Havas Shares Lurch With Symrise on European Stock MarketsJonathan Morgan
Shares in Havas SA, Symrise AG, Kion Group AG and other companies swung wildly over a matter of minutes on European equity exchanges today, quickly recovering in trading episodes that in the past have been attributed to incorrect orders.
In Paris, Havas, which had been trading at about 5.99 euros, fell to an intraday low of 5.87 euros at 1:41 p.m., before recovering by 1:55 p.m. Imerys SA sank at 1:25 p.m. and regained its losses soon afterward. In Frankfurt, Kion dropped to 29.21 euros at 1:34 p.m. from about 31.08 euros, before rising close to its earlier level. Symrise declined at 1:24 p.m. before returning to its previous trading range within minutes.
Andreas von Brevern, a spokesman for Deutsche Boerse AG, operator of the Frankfurt stock exchange, said there was nothing irregular in today’s trading. A Paris-based spokeswoman for pan-European stock exchange operator Euronext NV declined to comment on the stock moves.
More than 100,000 Havas shares worth around 600,000 euros changed hands during the swing, data compiled by Bloomberg show. The value of Imerys stock traded was 2.2 million euros. It was 6.8 million euros for Kion and 2.5 million euros for Symrise.