Bloomberg News

Belgacom, Commerzbank, Dexia, Rhodia: European Equity Preview

June 15, 2011

June 15 (Bloomberg) -- The following companies’ shares may be active in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index rose 0.8 to 270.82. The Stoxx 50 Index climbed 0.8 percent to 2,535.97. The Euro Stoxx 50 Index, a benchmark for nations using the euro, advanced 1.7 percent to 2,779.94.

Abertis Infraestructuras SA (ABE SM): Salvador Alemany, chairman of the Spanish highway operator, is scheduled to speak at a conference in Barcelona. Abertis shares gained 1.1 percent to 15.69 euros.

Actividades de Construccion y Servicios SA (ACS SM): Analysts at UniCredit initiated coverage of the Spanish builder with a “buy” rating. The shares rose 1.8 percent to 31.92 euros.

Banco Popolare dell’Emilia Romagna Scrl (BPE IM): The regional bank said it intends to buy out minority investors of subsidiaries, excluding Banco di Sardegna, as part of a plan to boost capital ratios. The bank said in a stock-exchange statement that it plans to offer new shares in exchange for the stock in the units. The shares gained 3.7 percent to 7.79 euros.

Belgacom SA (BELG BB): The largest telephone company in Belgium said it won’t charge Belgacom TV customers for watching live broadcasts of Belgian soccer games next season. The shares increased 0.3 percent to 24.36 euros.

BNP Paribas SA (BNP FP): B*Capital, an investment management unit of the French bank, was fined by France’s financial markets regulator over what the regular said was inadequate internal controls and record-keeping and missed client notifications. Sandrine Ferre, a spokeswoman for B*Capital, said the group hadn’t decided whether to appeal the decision. BNP shares rose 2.3 percent to 52.61 euros.

Commerzbank AG (CBK GY): Germany’s second-largest bank plans to sell almost 75 percent of RWE AG’s (RWE GY) Amprion German power grid unit to investors such as insurance companies via a closed fund structure, Dow Jones said, citing unidentified people familiar with the matter. Commerzbank shares increased 1.6 percent to 3.10 euros, while RWE, the country’s second- largest utility, gained 1.8 percent to 38.86 euros.

Dexia SA (DEXB BB): The largest lender to local governments in Belgium said its share count increased by 5.56 percent after investors who owned the stock on May 29 received one bonus share for every 18 held. The shares advanced 1.6 percent to 2.33 euros.

Fiat SpA (F IM): Fiat and Chrysler Group LLC Chief Executive Officer Sergio Marchionne told reporters in Gavi, Italy, that it would be easier to do an initial public offering for Chrysler shares held by the union’s health-care fund, known as the UAW’s VEBA trust, rather than Fiat buying the stake. Fiat shares increased 2.9 percent to 7.33 euros.

Inditex SA (ITX SM): The owner of the Zara fashion chain is scheduled to report first-quarter earnings before the market open. The shares added 1.1 percent to 61.75 euros.

Rhodia SA (RHA FP): A takeover offer for the French specialty chemicals maker by Solvay SA will start on June 15 and end July 20, according to an “indicative” calendar, Brussels- based Solvay said. Rhodia shares rose 0.1 percent to 31.27 euros.

Solvay SA (SOLB BB): The world’s largest soda-ash maker said its 31.60 euros-a-share takeover offer for Rhodia SA starts on June 15 and will end on July 20 at the earliest. Solvay shares rose 1.5 percent to 106.65 euros.

--Editor: John Simpson

To contact the reporter on this story: Inyoung Hwang in New York at

To contact the editor responsible for this story: Nick Baker at

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