Markets & Finance

On the Move: DCX, Suez, Vodafone


Plus:Gamesa, Parmalat, ING Groep and other European companies making headlines Tuesday

From Standard & Poor's European MarketScope

United Kingdom

VODAFONE (VOD) was up £0.02 to £1.44. The company, Reliance Communications, Essar Group and Maxis Communications may bid jointly for Hutchison Telecommunications International's stake in its Indian unit, the Financial Express reported, citing bankers it didn't identify.

AMVESCAP was up £0.08 to £6.04. Shares continued to outperform the market, with many investors setting their hopes on a possible takeover of the company after Marsh & McLennan reportedly agreed to sell Putnam Investments to Power Corporation of Canada in a US$3.9 billion deal.

UNITED UTILITIES (UU) was up £0.08 to £7.89. The broker has increased its EPS estimates by between 1% and 4% to 2010 following the first half results.

BRITISH LAND was up £0.08 to £17.22. Shares outperformed the market in the last trading days of 2006 ahead of the company's conversion to REIT status on Jan. 1. The company 's shareholders approved the move in December.

France

SUEZ (SZE) was up €0.67 to €39.90. Francois Pinault said no decision has been taken on his bid for the company. Pinault's holding Artemis said all options remain open. The WSJ earlier wrote that Francois Pinault does not plan to bid for the company and will tell French regulators this week, citing a person familiar with the matter.

PSA was up €1.10 to €51.30. The company's Chinese joint venture sold 40% more cars in 2006 as it introduced more models in the Chinese market.

Germany

DAIMLERCHRYSLER (DCX) was up €0.80 to €47.60. The company has reached an agreement with eight insurance companies in a suit it had filed to recover costs for settling a US class-action lawsuit in 2003, according to the FTD.

KARSTADT was down €0.06 to €21.92. Thomas Cook has appointed Citigroup to advise it on a £500 million bid for the UK's First Choice Holiday, reported The Times.

Nordics

DNO was up NOK0.70 to NOK12.20. The company announced that its Tawke number 4 well in Northern Iraq produced 8,500 barrels of oil per day during a test. The company said that the well has turned out as the best oil producer in the field to date.

HENNES & MAURITZ was up SEK2.00 to SEK348.00. The German VAT hike is effective as of Tuesday. While the move has been widely discussed, there are still doubts on the way as German consumers will react. The company generates as much as 50% of its revenues from Germany.

Netherlands

ING GROEP (ING) was up €0.50 to €34.09. The company completed the sale of Degussa Bank. It said the transaction will result in a net accounting loss of about €15 million, but free up about €120 million in Tier-1 capital and result in an increase of 4 basis points in the Tier-1 ratio of the company.

KPN (KPN) was up €0.11 to €10.88. The company announced that it will restructure its organization to improve market share, turnover and profitability by serving clients based on a business and consumer approach. The company wants to merge its fixed line and mobile units.

Italy

PARMALAT was up €0.13 to €3.39. The company has reached an agreement with BNL on the €112 million settlement arising from complaints filed by the company following the 2003 bankruptcy scandal.

ALITALIA was up €0.04 to €1.08. Italian Transport Minister, Alessandro Bianchi, has asked for new rules governing the sector's powerful unions, reported Il Corriere della Sera. The Italian government's sale of at least 30.1% of the company will close on Jan. 29, reported Reuters.

Spain

MAPFRE was up €0.15 to €3.57. The company said it is completing its transformation after shareholders approved the new corporate name Mapfre SA. They also approved capital increases to integrate all lines of business and gave their go-ahead for the company's new corporate by-laws.

GAMESA was up €0.77 to €21.62. The company has completed the sale of four wind parks in the US to Babcock & Brown.

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