Adidas, Daimler, Evraz, Novartis, 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 0.8 percent to 232.17. The Stoxx 50 Index fell 0.7 percent to 2,229.55. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, slipped 0.3 percent to 2,236.68.
Adidas AG (ADS) : The world’s second-largest sporting-goods maker will increase prices in 2012 because of higher raw material and wage costs, Welt am Sonntag said, citing Chief Executive Officer Herbert Hainer. The shares lost 0.5 percent to 50.36 euros.
Areva SA (AREVA) : The French company plans to cut 1,300 jobs in Germany after the country decided to exit nuclear power, Spiegel reported, without saying where it got the information. The shares gained 1.6 percent to 20.61 euros.
Daimler AG (DAI) : German auto manufacturers including Daimler and Porsche AG (PAH3 GR) expect rising competition from China in the coming years, Welt am Sonntag said, citing interviews with Daimler Chief Executive Officer Dieter Zetsche and Porsche CEO Matthias Mueller. Daimler’s shares fell 0.1 percent to 31.62 euros. Porsche rose 0.5 percent to 42.24 euros.
Evraz Plc (EVR) : OAO Russian Railways plans to sign a contract with Russia’s largest steelmaker by output for the supply of rails, RIA Novosti said, citing Chief Executive Officer Vladimir Yakunin. The shares fell 2.8 percent to 346 pence.
Henkel AG (HEN3 GR): The German maker of industrial adhesives and Soft Scrub cleaners expects record earnings and sales for 2011, reiterating its forecasts, Frankfurter Allgemeine Sonntagszeitung said, citing Chief Executive Officer Kasper Rorsted. The shares fell 0.1 percent to 41.18 euros.
Nordea Bank AB (NDA) : Scandinavia’s biggest bank said restructuring is the best option for General Maritime Corp., after the U.S. oil tanker owner’s request to borrow funds from lenders including Nordea was approved in a Manhattan court. Nordea slipped 0.6 percent to 52.85 kronor.
Novartis AG (NOVN) : Europe’s second-biggest pharmaceutical company sees a further decline in economic conditions which will require decisions on cost cuts, Le Temps said, citing Chief Executive Officer Joe Jimenez. The shares fell 0.5 percent to 50.15 francs.
Pernod-Ricard SA (RI) : Chief Executive Officer Pierre Pringuet said he’s “confident” about the final quarter, Investir said, citing an interview. The firm is not considering acquisitions at this time, he said. The shares fell 0.2 percent to 66.08 euros.
PSA Peugeot Citroen (UG) : Europe’s second-biggest carmaker will develop alternative energy vehicles in a venture with China’s Changan Automobile Group Co., Chief Executive Officer Philippe Varin said. The shares slipped 0.9 percent to 12.70 euros.
Resolution Ltd. (RSL LN): The U.K. financial services buyout firm said talks about a possible acquisition of Phoenix Group Holding Plc have been terminated. The Sunday Times reported Resolution was in advanced talks to make a 1.2 billion pound ($1.9 billion) bid for Phoenix. The shares fell 1.2 percent to 248.9 pence.
Telecom Italia SpA (TIT) : Italy’s biggest phone company plans to invest 100 million euros in cloud computing, Chief Operating Officer Marco Patuano told La Stampa. The cuts in so-called mobile termination rates in the country will have “very modest” impact on profit, he said. The shares lost 1.6 percent to 84.8 euro cents.
Thomas Cook Group Plc (TCG) : Europe’s second-largest tour operator, will close about 200 of its travel agencies and cut aircraft fleet by six planes, the Sunday Times reported. The shares rose 2 percent to 41.62 pence.
UBS AG (UBSN) : Switzerland’s biggest bank may see outflows of as much as 30 billion Swiss francs ($33 billion) from its wealth business in a “worst case scenario,” Chief Executive Officer Sergio Ermotti told NZZ am Sonntag.
The bank may cut more costs if markets worsen, Chairman Kaspar Villiger told SonntagsZeitung. UBS gained 0.5 percent to 10.54 francs.
Zurich Financial Services AG (ZURN) : Switzerland’s biggest insurer may appoint Deutsche Bank AG Chief Executive Officer Josef Ackermann as chairman, Finanz und Wirtschaft said, citing unidentified people in the Swiss insurance industry. The shares declined 0.4 percent to 199.20 francs.
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