Bloomberg News

Areva, Saint-Gobain, E.ON, Rio Tinto: European Equity Preview

October 26, 2011

Oct. 26 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index lost 0.7 percent to 240.29. The Stoxx 50 Index fell 0.7 percent to 2,283.09. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, slid 1.1 percent to 2,343.96.

Areva SA (AREVA FP): The world’s largest builder of nuclear plants said its FBFC International subsidiary may progressively close its nuclear fuel fabrication site in Dessel, Belgium, citing overcapacities on Western European markets. The Paris- based company lost 1.8 percent to 22.09 euros.

Cie. de Saint-Gobain SA (SGO FP): Europe’s biggest supplier of building materials reported third-quarter sales of 10.75 billion euros ($14.95 billion), beating the average analyst estimate of 10.68 billion euros. The shares dropped 3.8 percent to 32.92 euros.

E.ON AG (EOAN GY): Germany’s largest utility made an offer for a 21.5 percent stake in Portugal’s EDP Energias de Portugal SA (EDP PL) utility that is being sold by the country’s government, Handelsblatt reported, without saying where it got the information. E.ON fell 0.3 percent to 17.33 euros in Frankfurt. EDP lost 1.2 percent to 2.38 euros in Lisbon.

Rio Tinto Plc (RIO LN): The world’s second-largest mining company lost a bid to throw out genocide and war crimes claims in a U.S. lawsuit filed by Papua New Guinea landowners accusing the company of human rights abuses and environmental damage. The London-based company fell 2.1 percent to 3,302.50 pence.

RWE AG (RWE GY): Germany’s second-largest utility is working with Deutsche Bank AG to explore the sale of all or part of its oil and natural gas exploration unit, said three people with knowledge of the process. The shares erased 1.8 percent to 30.61 euros.

--Editor: Stephen Kleege

To contact the reporter on this story: Kaitlyn Kiernan in New York at kkiernan2@bloomberg.net

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


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