Bloomberg News

Barclays, Gagfah, UBS: European Equity Market Preview

May 06, 2012

The following companies’ shares may have unusual moves in European (SXXP) trading. U.K. markets are closed for a holiday. Stock symbols are in parentheses.

The Stoxx Europe 600 Index fell 1.8 percent to 253. The Stoxx 50 Index (SX5P) decreased 1.5 percent to 2,370.10. The Euro Stoxx 50 Index (SX5E), a benchmark measure for nations using the euro, declined 1.7 percent to 2,248.34.

Gagfah SA (GFJ) : Germany’s largest publicly traded residential landlord was cut to hold from buy at Deutsche Bank AG. The shares increased 0.9 percent to 7.07 euros.

Iberdrola SA (IBE) : The Spanish utility is considering selling its 39 percent stake in Brazilian power utility Neoenergia SA after talks to buy an additional 12 percent from Banco do Brasil SA stalled, Veja magazine said in its Radar column. The shares rose 1 percent to 3.48 euros.

Statoil ASA (STL) : Norway’s biggest oil and gas company signed a partnership agreement with OAO Rosneft help develop Russian offshore fields in exchange for stakes in its projects. The shares fell 2.5 percent to 149 kroner.

UBS AG (UBSN) : Switzerland’s biggest bank must face claims by the U.S. federal agency that oversees Fannie Mae and Freddie Mac over $6.4 billion in mortgage bonds purchased by the mortgage-finance companies, a U.S. judge ruled. The shares declined 0.7 percent to 11.36 Swiss francs.

Volkswagen AG (VOW) : Europe’s biggest carmaker may limit executive pay after CEO Martin Winterkorn received a record 18.3 million euros ($24 million) for 2011, Der Spiegel said. The shares fell 2.9 percent to 128.65 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


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