Bloomberg News

Bayer, Iberdrola, Royal DSM: Europe Equity Preview for Jan. 24

January 24, 2012

Jan. 24 (Bloomberg) -- The following companies’ shares may have unusual moves in European trading. All prices are from the previous close. Stock symbols are in parentheses.

The Stoxx Europe 600 Index rose 0.5 percent to 257.01. The Stoxx 50 Index gained 0.3 percent to 2,454.15. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, advanced 0.6 percent to 2,441.44.

Bayer AG (BAYN GY): Germany’s largest drugmaker was lowered to “add” from “buy” by Daniel Wendorff at Commerzbank AG, with a 6-month price estimate of 60 euros. The shares fell 0.5 percent to 53.25 euros.

Iberdrola SA (IBE SM): Spain’s largest utility offered about 6 billion reais ($3.42 billion) to boost its stake in Neoenergia SA, a Brazilian power company, to 75 percent from 39 percent, a person close to the deal said. Iberdrola fell 0.6 percent to 4.53 euros.

Royal DSM NV (DSM NA): The world’s largest maker of vitamins established a joint with Poet LLC, the largest U.S. corn-based ethanol producer by installed capacity, to produce cellulosic ethanol and license the technology to other plants in the U.S. and globally. The shares rose 0.8 percent to 38.55 euros.

--Editors: Stephen Kleege, Jeff Sutherland

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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