Bloomberg News

Air France, BNP Paribas, Roche: European Equity Preview

April 03, 2012

The following companies’ shares may have unusual moves in European (SXXP) (SXXP) trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index (SXXP) rose 1.5 percent to 267.16. The Stoxx 50 Index (SX5P) increased 1.6 percent to 2,496.78. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, gained 1 percent to 2,501.18.

Air France-KLM (AF) : Europe’s biggest airline said it will extend a cost-cutting program introduced at bases in southern France to flights from Paris Orly airport in a push to return short-haul services to profit. The shares fell 1.2 percent to 4.21 euros.

BNP Paribas SA (BNP) : Joachim von Schorlemer, country head for Germany, left France’s largest bank after differences over strategy, Handelsblatt said, citing a BNP spokesman. The shares increased 0.4 percent to 35.70 euros.

Roche Holding AG (ROG) : The world’s biggest maker of cancer drugs’ $6.7 billion hostile takeover offer for Illumina Inc. (ILMN:US) was rejected by the San Diego-based company’s board, which said that the bid “dramatically undervalues” the company. The shares gained 2.5 percent to 161 Swiss francs.

To contact the reporter on this story: Joseph Ciolli in New York at jciolli@bloomberg.net

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


Too Cool for Crisis Management
LIMITED-TIME OFFER SUBSCRIBE NOW

Companies Mentioned

  • ILMN
    (Illumina Inc)
    • $189.12 USD
    • 3.28
    • 1.73%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus