Bloomberg News

Colruyt, Deufol, EFG Eurobank, RBS: European Equity Preview

November 29, 2011

Nov. 29 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index rose 3.8 percent to 229.85. The Stoxx 50 Index increased 3.6 percent to 2,208.89. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, gained 5.2 percent to 2,221.76.

Colruyt NV (COLR BB): Belgium’s biggest discount food retailer reported a steeper-than-estimated drop in fiscal first- half profit as its expansion in France turned unprofitable on price cuts and accelerated store openings. The company said its forecast for full-year profit close to last year’s 338 million euros “remains a challenge.” The shares rose 4.3 percent to 29.58 euros.

Deufol AG (LOI GY): Chief Executive Officer Andreas Bargende stepped down with immediate effect, the provider of logistics services said. His responsibilities will be taken over by management-board members Detlef Huebner and Tillmann Blaschke. The shares fell 0.8 percent to 1.10 euros.

EFG Eurobank Ergasias SA (EUROB GA): The second-biggest bank in Greece is in “due diligence phase with multiple bidders” for its Turkish unit Eurobank Tekfen AS and expects a final bidder “no later than January,” executives said on a conference call with analysts. The shares gained 1.6 percent to 0.52 euros.

Royal Bank of Scotland Group Plc (RBS LN): The bank’s RBS Financial Products unit will pay $52 million to settle claims it financed, purchased and bundled unfair residential loans, Massachusetts Attorney General Martha Coakley said. The shares rose 5.3 percent to 19.74 pence.

--Editor: Jeff Sutherland

To contact the reporter on this story: Whitney Kisling in New York at wkisling@bloomberg.net

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


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