Bloomberg News

BMW, Daimler, Lloyds, Novartis: European Equity Preview

May 02, 2012

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

The Stoxx Europe 600 Index rose 0.4 percent to 258.37. The Stoxx 50 Index (SX5P) increased 0.5 percent to 2,415.83. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, increased less than 0.1 percent to 2,306.69.

Daimler AG (DAI) : The German carmaker’s Mercedes-Benz unit regained the U.S. luxury-vehicle sales lead for the year over Bayerische Motoren Werke AG (BMW)’s BMW brand with April deliveries rising 24 percent, the biggest gain of any premium brand. Daimler shares dropped 0.7 percent to 41.77 euros, while BMW shares fell 0.4 percent to 71.81 euros.

Lloyds Banking Group Plc (LLOY) : The U.K. lender was raised to hold from sell at Standard & Poor’s. The shares climbed 8.3 percent to 33.60 pence.

Novartis AG (NOVN) : The Swiss drugmaker’s Sandoz unit infringes a U.S. patent licensed by Hospira Inc. for the sedative Precedex, a federal judge in New Jersey decided. The shares rose 0.1 percent to 50.05 Swiss francs.

Red Electrica Corp. (REE) : Bolivia is nationalizing the local assets of the Spanish utility, giving the government control of the Andean nation’s power grid. The shares gained 1.1 percent to 32.89 euros.

Xstrata Plc (XTA) : The Swiss coal and copper producer’s director remuneration report was opposed by 36.5 percent of shareholders voting at the annual general meeting. The shares rose 2.3 percent to 1,205 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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