Bloomberg News

Deutsche Telekom, Redes Energeticas: European Equity Preview

December 30, 2011

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

The Stoxx Europe 600 Index rose 0.9 percent to 242.46. The Stoxx 50 Index increased 1 percent to 2,352.19. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, climbed 1.7 percent to 2,292.28.

Deutsche Telekom AG (DTE GY): Europe’s biggest phone company and its Magyar Telekom unit in Budapest will pay $95 million to settle U.S. Justice Department’s allegations they violated the Foreign Corrupt Practices Act. Deutsche Telekom rose 1.5 percent to 8.83 euros.

Fomento de Construcciones & Contratas SA (FCC SM): The Spanish construction company sold real estate including the Picasso Tower in Madrid for 460 million euros ($595 million) as part of its plan to improve its finances. The shares climbed 2.3 percent to 20.10 euros.

Redes Energeticas Nacionais SA (RENE PL): The operator of Portugal’s electricity and natural-gas grids said its chief financial officer, Joao Nuno Palma, will leave the company to join state-owned bank Caixa Geral de Depositos SA as executive board member. Redes gained 3.3 percent to 2.11 euros.

--Editor: Jeff Sutherland

To contact the reporter on this story: Ksenia Galouchko in New York at kgalouchko1@bloomberg.net

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


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