Jazztel, Repsol, UBS, Volkswagen: 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 fell 0.7 percent to 257.71. The Stoxx 50 Index (SX5P) decreased 0.4 percent to 2,417.80. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, declined 1.7 percent to 2,327.84.
Alpiq Holding AG (ALPH) : Switzerland’s largest utility company is said to be close to selling its German power engineering unit, Reuters reported, citing people close to the matter. The shares fell 0.4 percent to 159.90 Swiss francs.
Jazztel Plc (JAZ) : The Spanish phone company said first- quarter profit climbed as it continued to take broadband customers and market share from competitors. The shares gained 2 percent to 5.16 euros.
Repsol YPF SA (REP) : Argentina’s government said it will seize the Spanish oil company’s natural gas-producing subsidiary YPF Gas SA as part of plans to boost control of its natural resources. The move comes two days after Argentina seized oil producer YPF SA. The shares sank 6.2 percent to 15.40 euros.
UBS AG (UBSN) : Ehren Stenzler, the co-head of U.S. mergers and acquisitions, is leaving Switzerland’s biggest bank, one day after the resignation of Aryeh Bourkoff, the head of investment banking for the Americas. The shares dropped 2.6 percent to 11.51 Swiss francs.
Volkswagen AG (VOW) (VOW3 GY): Audi AG’s (NSU GR) parent said the luxury car maker will build a new sport-utility vehicle factory in Mexico beginning in 2016. Volkswagen also said it will set up a new assembly plant in western China. Volkswagen declined 1.2 percent to 131.50 euros.
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