Bloomberg News

Glaxo, Siemens, Telefonica, Volkswagen: European Equity Preview

November 17, 2011

Nov. 17 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index rose less than 0.1 percent to 237.04. The Stoxx 50 Index gained 0.2 percent to 2,267.31. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, advanced 0.6 percent to 2,267.96.

GlaxoSmithKline Plc (GSK LN): The U.K.’s largest drugmaker’s experimental medicine albiglutide failed to help diabetics control their blood-sugar levels as well as Novo Nordisk A/S’s Victoza in an advanced clinical study. The shares fell 0.1 percent to 1,404.50 pence.

Publicis Groupe SA (PUB FP): The world’s third-largest advertising company has let business units freeze hiring to avert layoffs and has seen a “leakage” of spending from worried clients, Chief Executive Officer Maurice Levy said. The shares rose 1 percent to 34.68 euros.

Siemens AG (SIE GY): Europe’s largest engineering company’s joint venture with Voith GmbH to develop equipment that harnesseses the ocean’s energy to generate electricity, Voith Hydro Wavegen Ltd., sold the world’s first commercial wave-power plant for 1.2 million euros ($1.6 million). Siemens shares lost less than 0.1 percent to 73.11 euros.

Telefonica SA (TEF SM): Europe’s largest phone company by market value may sell “underperforming assets” to reduce debt and regain investors’ trust after third-quarter sales in Spain slumped and growth in Brazil slowed. The shares rose 1 percent to 13.79 euros.

Separately, Royal KPN NV’s (KPN NA) chief executive officer said the largest Dutch phone company might generate 3 billion euros of “synergies” if it could merge its E-Plus division in Germany with Telefonica SA’s O2 unit. KPN’s shares dropped 0.3 percent to 9.54 euros.

Volkswagen AG (VOW GY): The German car maker’s revamped Passat was selected by Motor Trend as the “Car of the Year.” The trade magazine cited the vehicle’s roomy interior, range of powertrain options and “well-tuned chassis.” The shares lost 0.1 percent to 115.85 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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus