Ferragamo, UniCredit, Vivendi: 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 1.8 percent to 247.43. The Stoxx 50 Index (SX5P) decreased 1.6 percent to 2,324.55. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, lost 2.3 percent to 2,201.95.
Salvatore Ferragamo SpA (SFER) : The Italian clothing and accessories company said it expects “significant” revenue growth in 2012 after reporting first-quarter earnings that beat analysts’ estimates. The shares fell 1 percent to 17.10 euros.
UniCredit SpA (UCG) and Intesa Sanpaolo SpA (ISP) were among 26 Italian banks that had their credit ratings cut one to four levels by Moody’s Investors Service, which cited weakened earnings and the country’s economic outlook. UniCredit shares decreased 4.9 percent to 2.67 euros, while Intesa Sanpaolo shares fell 3.6 percent to 1.03 euros.
Vivendi SA (VIV) : The owner of the world’s largest music and video-game companies reported profit that topped analysts’ estimates as growth at the Brazilian phone unit helped offset losses of French wireless subscribers. The shares declined 2.7 percent to 12.43 euros.
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