ARM, Bayer, BP, Eutelsat, Siemens, UBS: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index lost 1 percent to 239.76. The Stoxx 50 Index fell 1 percent to 2,281.32. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, slipped 2.4 percent to 2,291.47
ARM Holdings Plc (ARM) : The owner of chip technology used in Apple Inc. iPhones was selected by Nokia Ojy for its future Windows-based phones, according to a Merchant Securities Group Plc note. The shares jumped 7.1 percent to 645 pence.
Bayer AG (BAYN) : The German drugmaker’s blood thinner Xarelto won approval in the U.S., the Food and Drug Administration said in a statement. Bayer fell 3.7 percent to 44.90 euros.
Betfair Group Plc (BET) : The world’s biggest person-to- person online betting exchange will name Breon Corcoran as its new chief executive officer, Sky News reported, without saying where it got the information. The shares fell 0.1 percent to 769.5 pence.
BP Plc (BP/) : BP’s $7.1 billion deal to sell a stake in Argentine crude producer Pan American Energy LLC to China’s Cnooc Ltd. collapsed, 10 days after Argentina’s leader ordered oil companies to repatriate future export revenue. BP declined 1 percent to 452.6 pence
Eutelsat Communications (ETL) SA: The world’s third- largest satellite company has the financial means to make an acquisition and is open to opportunities, Investir said, citing an interview with Chief Executive Officer Michel de Rosen. The shares dropped 2.5 percent to 29.74 euros.
Groupe Bruxelles Lambert SA (GBLB) : The Belgian investment firm controlled by billionaires Albert Frere and Paul G. Desmarais said cash earnings in the nine months through September fell 16 percent to 464.4 million euros ($639.9 million). The shares rose 0.2 percent to 55.40 euros.
Siemens AG (SIE) : Europe’s largest engineering company and Mainstream Renewable Power Ltd. secured grid capacity for the second gigawatt of their Hornsea wind farm off the U.K.’s northeastern shore. The shares lost 2.2 percent to 74.05 euros.
ThyssenKrupp AG (TKA) : The German metal producer plans to quit cooperation with Ferrostaal AG for selling submarines, Der Spiegel said, citing a letter from the head of the steelmaker’s maritime unit to Ferrostaal board member Joachim Ludwig. The shares fell 1.9 percent to 20.88 euros.
TUI AG (TUI1) (TUI1 GY): The German owner of Europe’s largest travel company is calling for Greece hoteliers to sign new contracts under which the tour operator will be entitled to payment in the new currency if Greece leaves the euro zone, Bild Zeitung said. The shares declined 2.5 percent to 4.5 euros.
UBS AG (UBSN) : Switzerland’s largest bank plans to name Sergio Ermotti its permanent chief executive officer before the company’s investors’ day on Nov. 17, the Tages-Anzeiger said, citing unidentified people familiar with the matter. The shares fell 0.1 percent to 10.90 francs.
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