Alcatel-Lucent, Antena, Credit Agricole: European Equity Preview
The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index fell 2.1 percent to 232.44. The Stoxx 50 Index retreated 1.7 percent to 2,263.49. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, slumped 2.4 percent to 2,205.91.
Alcatel-Lucent (ALU FP): France’s largest telecommunications equipment supplier estimates that 360 jobs may be under threat next year at its Alcatel Lucent France unit, Le Figaro reported, citing company management and labor union officials. Alcatel dropped 4.1 percent to 1.19 euros.
Antena 3 de Television SA (A3TV) (A3TV SM): Spain’s second-biggest commercial television station, and smaller rival Gestora de Inversiones Audiovisuales La Sexta SA agreed to merge as they struggle to compete in a tumbling advertising market. Antena declined 1.6 percent to 4.33 euros.
Credit Agricole SA (ACA) : France’s second-largest bank by assets, said it expects to report a loss for 2011 and will eliminate 2,350 jobs at its investment-banking and consumer finance units. The company scrapped its dividend for 2011 and said it can’t confirm its 2014 goals because of “the lack of visibility on the economic and financial climate.” The shares declined 6.7 percent to 4.23 euros.
Telefonica SA (TEF) : Spain’s largest telephone company, cut its 2012 dividend forecast by 14 percent, citing market conditions that have changed “significantly.” Telefonica fell 1.8 percent to 13.18 euros.
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