Nov. 1 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index fell 2.2 percent to 243.48. The Stoxx 50 Index lost 1.9 percent to 2,318. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, slipped 3.1 percent to 2,385.22.
Air France-KLM (AF FP): Europe’s biggest airline said it expects to operate more than 90 percent of its scheduled flights as a strike by cabin-crew unions enters its fourth day. The shares sank 6.9 percent to 5.51 euros.
Bayer AG (BAYN GY): The drugmaker is seeking to license experimental drugs in early stages of development to treat chronic kidney illnesses, eye conditions and cancer. Licensing drugs, rather than acquiring a company outright helps to keep the innovative spirit in drug development, said Helmut Haning, Bayer HealthCare’s senior vice president of global drug discovery, in an interview at the BIO-Europe conference in Dusseldorf, Germany. The shares fell 3.2 percent to 46.30 euros.
Bayerische Motoren Werke AG (BMW GY): The German carmaker was cut to “hold” from “buy” at Independent Research GmbH before third-quarter earnings. The firm cited valuation after the shares rallied 25 percent since Oct. 5. The shares fell 4.5 percent to 59.06 euros.
GDF Suez (GSZ FP): The utility’s Belgian unit, Electrabel SA, said negotiators in talks to form a new government agreed to phase out nuclear power starting in 2015. The decision is “surprising,” after the Belgian government decided in 2009 to extend the lifetime of the Doel 1 and 2 and Tihange 1 nuclear reactors by 10 years, Electrabel said in an e-mailed statement. GDF Suez dropped 5.7 percent to 20.52 euros.
Xstrata Plc (XTA LN): The world’s fourth-largest copper producer and the National Union of Mineworkers will continue talks in a bid to end a dispute over an employee share benefits proposal that prompted a strike earlier this month, the Johannesburg-based labor union said in an e-mailed statement. The shares dropped 7.7 percent to 1,045.50 pence.
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