Bloomberg News

BP, Iberdrola, Veolia Environnement: European Equity Preview

November 23, 2011

Nov. 23 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index slipped 0.7 percent to 223.27. The Stoxx 50 Index lost 0.7 percent to 2,149.34. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, dropped 1.1 percent to 2,136.81.

BP Plc (BP/ LN): Europe’s second-biggest oil company is evaluating its first well in Brazil, which it started drilling in July near the Itaipu discovery in deep waters of the Campos Basin, the country’s oil regulator, known as the ANP, said on its website. BP hasn’t reported any signs of oil or natural gas to the country’s oil regulator. The shares fell 1 percent to 435.90 pence.

Iberdrola SA (IBE SM): Spain’s largest power company said it won a contract to build 124 megawatts of wind farms in the Spanish region of Extremadura. The shares slid 1 percent to 4.61 euros.

Veolia Environnement SA (VIE FP): The world’s biggest water utility was raised to “overweight” from “neutral” at HSBC Securities Inc. The shares slumped 3.4 percent to 8.15 euros.

--Editor: Stephen Kleege

To contact the reporter on this story: Whitney Kisling in New York at

To contact the editor responsible for this story: Nick Baker at

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