ABB, Bayer, Enel, Fiat, Fluxys: European Equity Preview
The following companies’ shares may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index (SXXP) rose 0.3 percent to 270.27. The Stoxx 50 Index (SX5P) increased 0.3 percent to 2,533.70. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, gained 0.7 percent to 2,574.79.
ABB Ltd. (ABBN) : The power technology company paid $10 million for convertible debt in Ecotality Inc. (ECTY US) and an agreement to use its electric vehicle charging network. The shares rose 1.2 percent to 19.17 Swiss francs.
Archos SA (JXR) : The maker of tablet computers reported 2011 net income excluding some items of 5.7 million euros ($7.4 million), falling short of the average analyst estimate of 9.1 million euros. The shares gained 0.3 percent to 9.37 euros.
Bayer AG (BAYN) (BAYN GY): The largest German drugmaker said that the U.S. Food and Drug Administration approved a new indication for oral contraceptive Natazia to treat heavy menstrual bleeding. The shares fell 0.7 percent to 55.26 euros.
Fiat SpA (F) : The Italian carmaker said a truckers’ strike that’s lasted 20 days has reduced production by 20,000 units and will reduce its market share by 10 percent in March. The shares increased 2.5 percent to 4.82 euros.
Fluxys SA (FLUX) : The manager of Belgium’s natural-gas grid reported 2011 sales of 709.9 million euros, beating the average estimate of 662.5 million euros by two analysts in a Bloomberg survey. The company also said it will distribute 623.9 million euros to shareholders following a planned 100-for-1 stock split. The shares fell 2.7 percent to 3,205 euros.
Groupe Bruxelles Lambert SA (GBLB) : The Belgian investment firm controlled by billionaires Albert Frere and Paul G. Desmarais is selling as many as 6.2 million shares of Pernod- Ricard SA (RI) in a private placement. Groupe Bruxelles gained 1 percent to 57.22 euros. Pernod-Ricard advanced 0.5 percent to 82.10 euros.
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