Bloomberg News

BP, Credit Suisse, Societe Generale: European Equity Preview

November 30, 2011

Nov. 30 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index rose 0.8 percent to 231.68. The Stoxx 50 Index increased 0.7 percent to 2,224.70. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, gained 0.6 percent to 2,234.17.

BP Plc (BP/ LN): Units of Europe’s second-biggest oil company agreed to pay a $426,500 penalty and ensure that more than $240 million is available to resolve future hazardous-waste violations, the U.S. Environmental Protection Agency said. The EPA said it found subsidiaries of BP America Inc. didn’t meet requirements from 2006 through 2010 for so-called financial assurance. The shares rose 0.2 percent to 438.80 pence.

Credit Suisse Group AG (CSGN VX): Switzerland’s second- biggest bank had its outlook cut to “negative” from “stable” at Standard & Poor’s. The shares slipped 0.4 percent to 20.98 Swiss francs.

Deutsche Bank AG (DBK GR): Germany’s biggest bank had its outlook cut to “negative” from “stable” at S&P. The shares climbed 0.5 percent to 26.63 euros.

John Wood Group Plc (WG/ LN): A U.K. oil services provider active in Africa and the Middle East was rated a new “neutral” at HSBC Holdings Plc. The shares increased 2.3 percent to 627 pence.

Piaggio & C. SpA (PIA IM): The moped maker had its outlook cut to “negative” from “stable” at S&P. The shares advanced 1.1 percent to 2.17 euros.

Royal Bank of Scotland Group Plc (RBS LN): The U.K.’s biggest government-controlled bank was assessed a $1.9 million penalty after submitting an offer in an auction for Dynegy Inc. bonds that was more than 39 percentage points below the average of the 12 other dealers. The shares lost 1.1 percent to 19.52 pence.

Societe Generale SA (GLE FP): France’s second-biggest bank is weighing whether to put its U.S. asset manager TCW Group up for sale, said people with knowledge of the situation. The shares declined 0.4 percent to 17.28 euros.

--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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