Bloomberg News

Air France-KLM, Deutsche Bank, GSK, PPR: European Equity Preview

July 08, 2011

July 8 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index rose 0.4 percent to 275.93. The Stoxx 50 Index climbed 0.3 percent to 2,588.99. The Euro Stoxx 50 Index, a benchmark for nations using the euro, gained 0.4 percent to 2,844.51.

Air France-KLM Group (AF FP): Investors in Europe’s largest airline voted to extend Chief Executive Officer Pierre-Henri Gourgeon’s mandate for another four years, Agence France-Presse reported. The shares fell 2.5 percent to 10.53 euros.

Banco Bilbao Vizcaya Argentaria SA (BBVA SM): Shares of Spain’s second-biggest bank trade without the right to collect an interim dividend of 10 euro cents per share. BBVA fell 0.3 percent to 7.91 euros.

Carrefour SA (CA FP): Brazil’s state development bank shouldn’t intervene in a political capacity in the French retailer’s efforts to merge its Brazilian business with Cia. Brasileira de Distribuicao Grupo Pao de Acucar, Finance Minister Guido Mantega said. The shares rose 2.1 percent to 23.72 euros.

Deutsche Bank AG (DBK GY): Germany’s biggest bank may name investment-banking head Anshu Jain co-chief executive officer alongside a German-speaking board member to succeed Josef Ackermann, people familiar with the matter said. The shares rose less than 0.1 percent to 40.75 euros.

GlaxoSmithKline Plc (GSK LN): The U.K.’s biggest drugmaker said proposals to cut costs and transfer part of its Panadol production from Ireland to Spain will result in a loss of 130 jobs at its south-east Ireland plant. The stock gained 0.5 percent to 1,366.5 pence.

ICAP Plc (IAP LN): Principal Global Investors LLC agreed to pay $66 million for Origin Asset Management LLP, a money manager backed by ICAP Plc founder Michael Spencer. The stock advanced 2.1 percent to 490.6 pence.

PPR SA (PP FP): The owner of Gucci and Puma’s online fashion retailer Redcats may draw acquisition bids from buyout firms including TPG Capital, Bain Capital LLC and Permira Advisers LLP, according to people with knowledge of the matter. The shares rose 1.1 percent to 125.75 euros.

RWE AG (RWE GY): The supervisory board of Germany’s second- largest utility may discuss a possible share sale at an extraordinary meeting at the beginning of August, Financial Times Deutschland reported, citing Chief Executive Officer Juergen Grossmann. The stock rose 0.8 percent to 38.58 euros.

Telefonica SA (TEF SM): Spain’s largest telephone company said it reached an agreement with workers’ unions to cut 6,500 jobs in Spain. The shares rose 0.1 percent to 16.55 euros.

Vossloh AG (VOS GY): The German maker of railroad equipment cut its sales and operating earnings forecast for fiscal 2011, citing “significantly delayed call-offs of products to be installed in Chinese high-speed railway lines.” The stock rose 0.1 percent to 95.37 euros.

--Editor: Stephen Kleege

To contact the reporter on this story: Cecile Vannucci in New York at cvannucci1@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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