Comdirect, JCDecaux, L’Oreal, Repsol YPF May Move: 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 0.6 percent to 238.44. The Stoxx 50 Index fell 0.7 percent to 2,265.32. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, slipped 0.7 percent to 2,275.92.
Comdirect Bank AG (COM) : The German online broker controlled by Commerzbank AG (CBK) raised its 2011 pretax profit forecast to “significantly more than” 100 million euros from at least 95 million euros previously. The shares lost 2.2 percent to 7.10 euros.
JCDecaux SA (DEC) : The world’s largest outdoor advertising company reported third-quarter sales of 577.1 million euros, beating the average analyst estimate of 573.8 million euros. The shares rose 1.5 percent to 19.53 euros.
L’Oreal SA (OR) : The world’s largest cosmetics maker is losing share in mass-market makeup in western Europe. Portugal, Italy, Greece and Spain cost the company one point of growth in the third quarter, leaving it “cautious” for the rest of 2011, Chief Executive Officer Jean-Paul Agon said on a conference call. The shares dropped 0.5 percent to 77.41 euros.
REN-Redes Energeticas Nacionais SA (RENE PL): The operator of Portugal’s electricity and gas networks said it’s “very difficult” for the sale of all of the state’s 51 percent stake in the company to be completed this year as planned. The shares fell 0.6 percent to 2.06 euros.
Repsol YPF SA (REP) : YPF SA (YPF), Argentina’s largest energy company that is controlled by Spain’s Repsol YPF, discovered the equivalent of about 927 million barrels of shale oil resources, six times more than previously estimated, at its Loma la Lata field in Neuquen province. The shares gained 1.2 percent to 20.91 euros.
Transgene SA (TNG) : The French company’s drug to treat chronic hepatitis C has attracted the attention of about a dozen companies interested in helping to develop the product, Chief Financial Officer Stephane Boissel said. The company has begun talks with potential partners on the compound. The shares advanced 2 percent to 8.83 euros.
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