Bloomberg News

Alstom, Rheinmetall, Shell, Technip: European Equity Preview

July 29, 2011

July 29 (Bloomberg) -- Shares of the following companies may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index increased less than 0.1 percent to 267.08. The Stoxx 50 Index gained 0.3 percent to 2,530.84. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, fell less than 0.1 percent to 2,692.76.

Alstom SA (ALO FP): The world’s third-largest power- equipment maker said it signed a service contract of about 330 million euros ($472 million) with Dalia Power Energies Ltd. for a gas-fired plant in Israel. The contract will be booked in the second half of the 2011/2012 fiscal year. The shares fell 0.8 percent 37.46 euros.

Credit Agricole SA (ACA FP): The bank said the Greek crisis will have an impact of no more than 850 million euros on its second-quarter net profit, and its Emporiki unit in Greece will lose 451 million euros in the period. On a group level, Credit Agricole said it expects to post a profit for the quarter. The shares rose 1.5 percent to 8.83 euros.

Cie. de Saint-Gobain SA (SGO FP): Europe’s biggest supplier of building materials had first-half net income of 768 million euros, compared with 501 million euros a year earlier. The company also said it’s confident of meeting full year forecasts. The shares fell 2.3 percent to 39.55 euros.

Eiffage (FGR FP): The construction company and French railroad operator RFF signed a contract representing more than 3.3 billion euros to build a high-speed rail line in Western France. The shares fell 1.1 percent to 38.98 euros.

Rheinmetall AG (RHM GY): The maker of defense equipment and car parts said it’s exploring an initial public offering of the Kolbenschmidt Pierburg AG automotive unit in a review of its “two-pillar strategy.” The shares fell 1.7 percent to 59.34 euros.

Royal Dutch Shell Plc (RDSA LN): Europe’s largest oil company is becoming more confident that it will be able to start drilling for oil off Alaska next year, Marvin Odum, the company’s U.S. president, told reporters in Washington following a speech at the U.S. Chamber of Commerce. The shares added 0.1 percent to 2,266.5 pence.

Technip SA (TEC FP): The oilfield-services provider obtained a 1 billion euro loan to refinance existing debt. The five-year revolving credit will be used to replace an unused 850 million euro facility due to mature next year that paid interest of 225 basis points more than the European interbank offered rate, according to a statement from the Paris-based company. The shares climbed 2.2 percent to 75.45 euros.

United Business Media Ltd. (UBM LN): The publisher of InformationWeek is scheduled to report first-half earnings. The stock declined 1.1 percent to 514 pence.

--With assistance Tony Czuczka in Berlin, Namitha Jagadeesh in London and Mark Deen and Gregory Viscusi in Paris; Editor: Stephen Kleege

To contact the reporter on this story: Victoria Taylor in New York at vtaylor6@bloomberg.net

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


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