Dexia, HSBC, Indra Sistemas, LVMH, Vinci: Europe Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index fell 0.4 percent to 235.35. The Stoxx 50 Index lost 0.4 percent to 2,244.91. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, gained 0.3 percent to 2,254.92.
Dexia SA (DEXB) : The Belgian bank’s Italian lending unit Dexia Crediop SpA had its long-term debt rating lowered to Ba3 from Baa3 by Moody’s Investors Service, which said Crediop’s ratings remain on review for a downgrade. The shares slipped 4.6 percent to 36 euro cents.
HSBC Holdings Plc (HSBA) : Europe’s biggest bank by market value and First Niagara Financial Group Inc. (FNFG) agreed to sell 26 HSBC branches in the Buffalo, New York, region to ease government antitrust concerns. The action will allow First Niagara to proceed with its $1 billion purchase of 195 of London-based HSBC’s New York and Connecticut branches, according to a Justice Department statement. HSBC shares dropped 2.7 percent to 5.77 euros.
Indra Sistemas SA (IDR) : Spain’s largest computer services company reported third-quarter sales grew 4.7 percent to 576 million euros, beating the average analyst estimate of 566.1 million euros. The shares dropped 0.9 percent to 11.60 euros.
LVMH Moet Hennessy Louis Vuitton SA (MC) : The world’s largest luxury goods company acquired Swiss watch-dial maker ArteCad SA, the company said in a statement without revealing the financial details of the deal. The shares fell less than 0.1 percent to 114.55 euros.
Vinci SA (DG) : Europe’s largest builder abandoned a bid to build and operate a direct rail link between Paris and the Roissy-Charles de Gaulle airport, La Vie du Rail reported, citing a person it did not name. The shares fell 1.8 percent to 32.05 euros.
To contact the editor responsible for this story: Nick Baker at firstname.lastname@example.org