Credit Suisse, EON, Lloyds, RBS, Vinci: 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 0.4 percent to 233.71. The Stoxx 50 Index declined 0.7 percent to 2,270.26. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, retreated 1 percent to 2,202.72.
Babcock International Group Plc (BAB) : The owner of U.K. naval dockyards is seeking to sell its business that manages U.S. military bases, the Sunday Times newspaper reported, citing unnamed sources. The shares rose 1.2 percent to 700.5 pence.
Credit Suisse Group AG (CSGN) : The Zurich-based bank will reduce bonuses for its employees by 40 percent this year, Der Sonntag reported, citing people familiar with the situation that it didn’t identify. The stock decreased 2.2 percent to 21.41 francs.
EasyJet Plc (EZJ) : The sovereign-debt crisis has had no effect on Europe’s second-largest low-cost airline, Welt am Sonntag said, citing Chief Executive Officer Carolyn McCall. The shares rose 0.9 percent to 379.6 pence.
EON AG (EOAN) : Germany’s biggest utility says its plan to cut as many as 11,000 jobs are necessary to save “thousands” of other positions, Chief Executive Officer Johannes Teyssen told the Frankfurter Allgemeine Sonntagszeitung newspaper. The stock fell 2.9 percent to 16.16 euros.
Lloyds Banking Group Plc (LLOY) : The U.K. lender has frozen pay for its top 1,000 executives, including Chief Executive Officer Antonio Horta-Osorio, the Sunday Times reported, citing investors it didn’t name.
The bank may appoint two new non-executive directors as soon as next month, the Sunday Telegraph reported, without citing anyone. The stock advanced 1.8 percent to 24.50 pence.
Raiffeisen Bank International AG (RBI AV): The Austrian lender’s parent company, Raiffeisen Zentralbank Oesterreich, may attract bids for minority stakes from Investor AB, Wiener Zeitung reported, citing market speculation. The shares increased 2.3 percent to 18.82 euros.
Royal Bank of Scotland Group Plc (RBS LN): Britain’s largest government-owned lender hired McKinsey & Co. as it considers closing more than half of its investment-banking unit, the Sunday Telegraph reported, without saying how it obtained the information. The shares climbed 1.8 percent to 20 pence.
3i Group Plc (III) : The international investor formed a group to bid for Edinburgh airport, the Sunday Times reported, citing people it didn’t identify. The stock fell 1.5 percent to 169.2 pence.
Vinci SA (DG) : The French builder’s Soletanche Freyssinet subsidiary has agreed to buy majority stakes in Turkey’s Zetas Zemin Teknolojisi AS and Canada’s Bermingham Construction Ltd. for an undisclosed amount. The shares declined 0.5 percent to 31.43 euros.
To contact the editor responsible for this story: Nick Baker at firstname.lastname@example.org