The following companies’ shares may have unusual moves in European (SXXP) trading. Stock symbols are in parentheses.
The Stoxx Europe 600 Index (SXXP) rose 1.6 percent to 264.16. The Stoxx 50 Index (SX5P) gained 1.3 percent to 2,477.11. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, climbed 2.2 percent to 2,514.22.
Cofina SGPS SA (CFN) : The publisher of some of Portugal’s top-selling newspapers said annual profit fell 4.1 percent on lower advertising revenue. The shares were unchanged at 49 euro cents.
EDP-Energias de Portugal SA (EDP PL): Portugal’s biggest power company said annual profit rose 4.2 percent, helped by its wind energy unit and regulated networks division. The shares increased 0.5 percent to 2.26 euros.
Enel SpA (ENEL) : Italy’s biggest power company had its credit rating cut to BBB+ from A- by Standard & Poor’s. The ratings company also applied the same downgrade to Endesa SA (ELE) , a subsidary of Enel. Enel dropped 5.7 percent to 2.87 euros. Endesa declined 0.7 percent to 15.45 euros.
Red Electrica de Espana SA (REE SM): The manager of Spain’s power grid said its board of directors agreed to dismiss Luis Atienza as chairman and chief executive officer. The company named Jose Folgado as chairman. It didn’t specify how it would fill the CEO position. The shares rose 0.3 percent to 37.90 euros.
Smurfit Kappa Group Plc (SKG) : The packaging company had its credit rating raised to Ba2 from Ba3 by Moody’s Investors Service. The shares gained 6 percent to 7.25 euros.
TNT Express NV (TNTE) (TNTE NA): Europe’s second-largest express- delivery service is nearing an agreement to be acquired by United Parcel Service Inc. (UPS US) after rejecting an initial 4.9 billion euro ($6.5 billion) offer, according to people familiar with the discussions. Spokesmen for TNT and UPS declined to comment on the negotiations. The shares increased 0.7 percent to 9.32 euros.
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