Bloomberg News

Air France, Daimler, Lufthansa, Porsche: Europe Equity Preview

February 07, 2012

Feb. 7 (Bloomberg) -- Shares of the following companies may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index retreated 0.1 percent to 264.27. The Stoxx 50 Index rose 0.1 percent to 2,501.96. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, declined 0.3 percent to 2,507.89.

Air France (AF FP): The airline said it expects more than 50 percent of its long-haul flights and 70 percent of its short- and medium-haul flights to be unaffected by a strike of its pilots and cabin crews today. The shares fell 4.1 percent to 5.12 euros.

Banca Monte dei Paschi di Siena SpA (BMPS IM): Italy’s third-biggest bank had its debt downgraded to BBB from BBB+ by Fitch Ratings after Italy was downgraded last month. Fitch also downgraded Banco Popolare SC’s (BP IM) debt to BBB from BBB+.

Banca Monte rallied 2.6 percent to 34 euro cents. Banco Popolare jumped 3.1 percent to 1.46 euros.

Daimler AG (DAI GY): The automaker cut the number of regulations to which employees must adhere to 1,000 from 1,800 to simplify its decision-making procedures and may cut them even further, the Financial Times Deutschland reported, citing Christine Hohmann-Dennhardt, the board member with responsibility for integration and rights. Daimler gained less than 0.1 percent to 45.47 euros.

Deutsche Lufthansa AG (LHA GY): Europe’s second-largest airline is being taken to court by its cabin staff over plans to use contract workers for flights operating out of Berlin’s new airport, Dow Jones reported, citing Alexander Behrens, the chairman of the staff committee. Lufthansa declined 1.2 percent to 11.18 euros.

Porsche Automobil Holding SE (PAH3 GY): The maker of the 911 sports car was lowered to “neutral” from “overweight” at HSBC, with a 12-month price estimate of 55.00 euros. The shares retreated 2.1 percent to 48.46 euros.

--Editors: Stephen Kleege, Jeff Sutherland

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

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net.


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