Commerzbank, Daimler, Salzgitter: 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 dropped 2.1 percent to 258.76. The Stoxx 50 Index (SX5P) decreased 1.7 percent to 2,427.50. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, declined 2.5 percent to 2,398.46.
Commerzbank AG (CBK) (CBK GY): The German bank sued a unit of Credit Agricole SA (ACA) claiming it’s owed more than $73 million as a result of the termination of credit-linked notes transactions dating back to 2006. Commerzbank shares decreased 3.5 percent to 1.78 euros, while Credit Agricole dropped 5.2 percent to 4.24 euros.
Daimler AG (DAI) (DAI GY): Shareholders of the maker of Mercedes- Benz cars and trucks approved a 2011 dividend payout of 2.20 euros. The shares fell 2.3 percent to 44.71 euros.
Hamburger Hafen und Logistik AG (HHFA GY): The Hamburg- based company, which handles more than two-thirds of containers in Europe’s second-biggest port, was downgraded to hold from buy at DZ Bank. The shares decreased 0.8 percent to 26.23 euros.
Salzgitter AG (SZG) (SZG GY): The steelmaker was raised to buy from hold at DZ Bank. The shares fell 3.8 percent to 39.39 euros.
To contact the reporter on this story: Joseph Ciolli in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Baker at email@example.com