Bloomberg News

Allianz, Deutsche Telekom, Petroplus: Europe Equity Preview

January 12, 2012

Jan. 12 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index fell 0.4 percent to 249.93. The Stoxx 50 Index fell 0.5 percent to 2,412.60. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, dropped 0.3 percent to 2,339.51.

Allianz SE (ALV GY): Europe’s biggest insurer may convert its holding in Commerzbank AG (CBK GY) in order to help the country’s second-largest lender meet capital goals set by the European Banking Authority, said two people with knowledge of the matter. Allianz rose 1.4 percent to 77.05 euros. Commerzbank rose 5.1 percent to 1.30 euros.

Deutsche Bank AG (DBK GY): Executives of Germany’s biggest bank decided to pursue a sale of asset-management units after they were satisfied with early interest in the business, according to two people with knowledge of the matter. Some bidders valued all of the assets between 1.5 billion euros ($1.9 billion) and 2.5 billion euros, the people said. A selected group of potential buyers will be asked to submit second-round bids in February, one person said. Deutsche Bank gained 1.7 percent to 27.94 euros.

Deutsche Telekom AG (DTE GY): Europe’s biggest telephone company is close to an agreement to make its fiber-optic network available to Spanish rival Telefonica SA’s (TEF SM) German unit, the Financial Times Deutschland reported, without saying where it got the information. Deutsche Telekom fell 0.2 percent to 8.94 euros. Telefonica rose 0.2 percent to 13.39 euros.

Fiat SpA (F IM): Chrysler Group LLC, owned by the Italian carmaker, said it increased annual North American production by 27 percent to almost 2 million last year. Output of cars and trucks in the U.S., Canada and Mexico was 1.57 million in 2010, according to the statement on the company’s website. Fiat fell 2.6 percent to 3.83 euros.

Petroplus Holdings AG (PPHN SW): The refiner reached a temporary agreement with its lenders which will allow it to meet certain expenses and maintain operations at its Coryton and Ingolstadt refineries. Petroplus rose 0.8 percent to 1.2 francs.

--Editors: Stephen Kleege, Joanna Ossinger

To contact the reporters on this story: Katia Porzecanski in New York at kporzecansk1@bloomberg.net;

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


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