Bloomberg News

Barclays Plc, BMW, Merck KGaA: European Equity Preview

November 24, 2011

Nov. 24 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index slipped 1.3 percent to 220.31. The Stoxx 50 Index lost 1.2 percent to 2,123.86. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, dropped 1.9 percent to 2,096.79.

Barclays Plc (BARC LN): The U.K.’s second-biggest bank will spin off its capital arbitrage team, led by Philip Rosenstrach, as a hedge fund on Jan. 1, with the London-based bank and other investors providing about $150 million in funding, according to two people familiar with the matter. The shares fell 3.1 percent to 147.90 pence.

Bayerische Motoren Werke AG (BMW GY): The China Academy of Launch Vehicle Technology accused the German carmaker of using the image of one of its rockets in an advertisement without authorization, Shanghai Daily reported, citing a China Network Television report. Separately, BMW announced it will make “modest” inflationary price increases in North America next year. The shares fell 3 percent to 49.30 euros.

Merck KGaA (MRK GY): The German drugmaker asked a New York judge to force Facebook Inc. to produce information about an alleged takeover of its page on the social networking site by its U.S.-based competitor Merck & Co. The Darmstadt-based company wants the information from Facebook as it considers a possible lawsuit for breach of contract or interference with business. E-mails to Palo Alto, California-based Facebook’s press department didn’t receive a response. Merck KGaA shares rose less than 0.1 percent to 69.80 euros.

--Editor: Jeff Sutherland

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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