Markets & Finance

On the Move: ABN Amro, Deutsche Boerse, Lagardere


Plus:Novo Nordisk, Lonmin, Continental and other European companies making headlines Wednesday

From Standard & Poor's European MarketScope

United Kingdom

BSKYB was up £0.32 to £6.17. Third quarter new customer additions are up 25%. It posted nine months revenues of £3.376 billion, +10%; EBITDA £750 million; operating profit £613 million.

LONMIN was up £1.76 to £34.96. The company posted first half pretax profit up 63%, but kept its fiscal platinum ests.

France

LAGARDERE was up €1.28 to €59.20. The Wall Street Journal's controlling shareholder, rebuffed an unsolicited US$5 billion bid from Rupert Murdoch's News Corp., (NWS) spurring speculation that News Corp would increase its offer, the FT reported.

GFI INFORMATIQUE was up €1.23 to €8.83. Fujitsu offered to buy the company for €419 million. Fujitsu will offer €8.5 for each of the company's shares.

Germany

DEUTSCHE BOERSE was down €4.55 to €168.00. The company is buying the US options exchange ISE for US$2.8 billion. Cheuvreux said that although expensive (32x 2008 earnings), it is a very good fit and opens up the world's largest derivatives market for the company.

ALLIANZ (AZ) was up €1.32 to €168.02. First quarter prelims topped expectations - with operating profit rising to some €2.9 billion from €2.7 billion a year ago. Quarterly net income was €3.2 billion, up from €1.8 billion last time, helped by gains from capital investments of about €2 billion in the quarter when the company sold stakes in Munich Re, BMW and Karstadt, amongst others.

HENKEL was up €3.33 to €118.93. First quarter EBIT topped expectations coming in 9.2% higher year-over-year at €323 million, with quarterly sales up 6.2% year-over-year to €3.24 billion.

CONTINENTAL was up €3.81 to €106.29. The company reported first quarter net profit up 22% year-over-year to €270.5 million after minorities on quarterly sales 9.8% higher at €3.96 billion.

Italy

TELECOM ITALIA (TI) was down €0.02 to €2.19. JP Morgan cut its target to neutral from overweight and raised its target to €2.2 from €2.1.

Netherlands

ABN AMRO (ABN) was up €0.14 to €36.07. Keefe, Bruyette & Woods thinks that the company may attract a third bid, possibly led by Bank of America (BAC), that would be the most likely winner of the battle for the biggest-ever banking takeover, Bloomberg reports.

NUMICO was down €0.94 to €39.62. The company reported total first quarter sales of €674 million, below analysts expectations. Net profit was at €74 million, at the lower end of analysts' forecasts.

Nordics

NOVO NORDISK (NVO) was up DKK34.00 to DKK572.00. First quarter sales came in at DKK9.82 billion, up 10% year-over-year, while sales for Novoseven rose 12% year-over-year and sales for insulin analogues rose 32%.

KEMIRA was down €1.03 to €16.91. First quarter sales came in at €673 million vs. €702 million seen in a Reuters poll and operating profit came in at €48.9 million vs. €53 million forecast.

Spain

TELECINCO was up €0.14 to €22.38. The company once more topped monthly TV audience share figures, with a 20.1% share in April.

Switzerland

SYNGENTA was down CHF7.80 to CHF233.60. Reuters reported the company's CFO as saying US corn acreage growth may not be as high in 2007 as US forecasts.

CS GROUP was down CHF2.00 to CHF93.45. The company posted better-than-expected first quarter net income of CHF2.7 billion, generating net new assets of CHF15.2 billion in Wealth Management and CHF29 billion in Asset Management.

Claudia Perotti, Lydia Carroll, Sara Oscarsson, Isabell Witt, Michael Sanderson, Gaurav Panchal, Julien Manrique, John West, Ben Marino, Emma Stevenson, Pawan Girglani.

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