Bloomberg News

BAE Systems, GlaxoSmithKline: European Equity Preview

April 03, 2012

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

The Stoxx Europe 600 Index dropped 1.1 percent to 264.29. The Stoxx 50 Index (SX5P) decreased 1.2 percent to 2,468.16. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, declined 1.7 percent to 2,458.98.

BAE Systems Plc (BA/) : Europe’s largest defense company said it signed a contract to build 48 Typhoon aircraft for the Saudi Arabian air force, Reuters reported. The shares fell 0.7 percent to 300.80 pence.

Bayerische Motoren Werke AG (BMW) (BMW GY): The world’s largest maker of luxury vehicles’ BMW brand, helped by a redesigned 3 Series sedan and a March sales increase of 18 percent, finished the quarter with 36 more deliveries than Daimler AG (DAI)’s (DAI GY) Mercedes-Benz in the U.S. BMW fell 1.8 percent to 67.99 euros. Daimler slipped 0.8 percent to 45.77 euros.

GlaxoSmithKline Plc (GSK) : The U.K.’s largest drugmaker and Pfizer Inc. (PFE US) sued Hikma Pharmaceuticals Plc for planning to sell an injectable blood-clot treatment that the drugmakers say infringes a patent licensed by Glaxo for argatroban. The shares decreased less than 0.1 percent to 1,428.50 pence.

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


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