Bloomberg News

Bayer, Credit Suisse, Repsol: European Equity Preview

April 11, 2012

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

The Stoxx Europe 600 Index dropped 2.5 percent to 252.57. The Stoxx 50 Index (SX5P) decreased 2.3 percent to 2,370.88. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, declined 3 percent to 2,321.53.

Bayer AG (BAYN) (BAYN GY): The largest German drugmaker’s Yasmin and 10 other birth-control pills may pose a greater risk for blood clots in women using the drugs, and language on the labels must be strengthened to clarify those dangers, U.S. regulators said. The shares fell 2.5 percent to 50.69 euros.

Credit Suisse Group AG (CSGN) : The Zurich-based bank hired Chris Gaertner from Bank of America Corp. as head of global corporate finance for its technology group based in San Francisco. The shares decreased 3.6 percent to 23.79 Swiss francs.

Repsol YPF SA (REP) : Spain’s largest oil company said it plans to start a boiler and an energy recovery unit at its 220,000 barrel-a-day Petronor refinery in Bilbao. The shares dropped 0.9 percent to 17.92 euros.

SAP AG (SAP) (SAP GY): The largest maker of business-management software plans to spend almost $500 million to lure customers to its Hana data-processing product, stepping up competition with Oracle Corp. (ORCL US). The shares declined 1.4 percent to 50.05 euros.

Telefonica SA (TEF) : Spain’s largest telephone company plans to issue new shares to pay a scrip dividend instead of remunerating shareholders with treasury stock. The shares fell 2.9 percent to 11.55 euros.

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


Ebola Rising
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus