The following companies’ shares may have unusual price changes in European trading. Stock symbols are in parentheses, and prices are from the previous close.
The Dow Jones Stoxx 600 rose 0.3 percent to 191.27. The Dow Jones Stoxx 50 Index added 0.2 percent to 1,966.27. The Euro Stoxx 50 Index, a benchmark for the nations using the euro, advanced 0.6 percent to 2,228.29.
Acciona SA (ANA SM): Enel SpA is “close” to buying Acciona’s 25 percent stake in Spanish utility Endesa SA and securing financing for the deal, Il Sole 24 Ore reported. The shares retreated 1.40 euros, or 1.6 percent, to 87.15 euros.
Banco Bilbao Vizcaya Argentaria SA (BBVA SM): The country’s second-largest bank spent 1.66 billion euros ($2.14 billion) on its real estate fund to avoid selling assets after investors withdrew cash, Expansion said. The shares declined 8 cents, or 1.1 percent, to 6.90 euros.
BASF SE (BAS GY): The chemicals maker expects a further slump in demand in coming months as customers continue to deplete inventories, Focus said, citing an interview with Chief Executive Officer Juergen Hambrecht. The stock rose 53 cents, or 2.2 percent, to 24.58 euros.
Benetton Group SpA (BEN IM): Italy’s largest clothes maker will close its plant near Turin, Italy, affecting 147 jobs, la Repubblica said. Benetton told unions last month that after shutting down the Piobesi factory it will strengthen its Vicenza site and open a facility in Tunisia, the newspaper said. The stock fell 1.9 percent to 5.82 euros.
Belgacom SA (BELG BB): Belgium’s largest telephone company will have to pay about 100 million euros ($128.6 million) in back taxes after losing a dispute with Belgian authorities over the taxation of a Luxembourg unit, La Libre Belgique reported. Belgacom rose 27 cents, or 1 percent, to 27.47 euros.
BP Plc (BP/ LN): Europe’s second-largest oil company’s search for a new chairman will continue after Paul Skinner, the chairman of Rio Tinto Plc, withdrew his candidacy, the London Times reported. The shares fell 3.75 pence or 0.7 percent to 505.5 pence.
Brederode SA (BREB BB): The investment firm posted a full- year net loss of 449.3 million euros after selling most of its holdings in banks and insurers. The firm will raise its gross dividend 1.9 percent to 53 cents a share. The shares were unchanged at 12.75 euros.
Cofinimmo (COFB BB): Belgium’s biggest real estate investment fund reported an increase in rental income and stable earnings for 2008, enabling the company to raise its payout to shareholders. Cofinimmo fell 2.4 percent to 91.07 euros.
Continental AG (CON GY): Deputy Chairman Werner Bischoff still favors finding an investor for the auto supplier’s tire unit even after a rejection by Pirelli & C SpA, Focus magazine reported, citing the labor representative. The shares gained 94 cents, or 6.2 percent, to 16.17 euros.
Credit Suisse Group AG (CSGN VX): The firm must pay STMicroelectronics NV (STM FP) more than $400 million to resolve claims it misled the semiconductor maker into buying auction-rate securities, an arbitration panel said in a ruling that may spur similar complaints by companies. Credit Suisse rose 4.8 percent to 32.82 Swiss francs, and STMicroelectronics added 5 percent to 4.39 euros.
Daimler AG (DAI GY): The automaker will announce a 1.6 billion-euro ($2.1 billion) savings program to counter a slump in demand, Stuttgarter Zeitung said, without saying where it got the information.
Separately, Daimler and Bayerische Motoren Werke AG (BMW GY) are close to signing a cooperation aimed at saving costs and combating a slump in demand, Frankfurter Allgemeine Sonntagszeitung said, citing an unidentified manager taking part in the negotiations.
Daimler stock climbed 35 cents, or 1.5 percent, to 24.14 euros. Shares of BMW rose 1.02 euros, or 4.5 percent, to 23.72 euros.
Deutsche Bank AG (DBK GY): The lender plans to stagger the payment of some 2008 bonuses over several years, Frankfurter Allgemeine Sonntagszeitung said, citing supervisory board chairman Clemens Boersig. The shares added 41 cents, or 1.8 percent, to 22.79 euros.
Deutsche Lufthansa AG (LHA GY): The airline’s air-freight division could be endangered if Frankfurt airport implements a ban on night flights, Frankfurter Allgemeine Zeitung said, citing an interview with Carsten Spohr, chief executive officer of Lufthansa Cargo AG. The shares gained 3 cents, or 0.3 percent, to 10.23 euros.
Deutsche Post AG (DPW GY): The mail carrier does not plan to make deliveries on Sundays or charge customers more for letters delivered on Mondays, Bild said, citing company spokesman Manfred Harnischfeger. The stock rose 5 cents, or 0.5 percent, to 10.27 euros.
Enel SpA (ENEL IM): Italy’s largest utility is “close” to buying Acciona SA’s 25 percent stake in Spanish utility Endesa SA and securing financing for the deal, Il Sole 24 Ore reported. Enel has almost reached an accord with 12 lenders, including Mediobanca SpA, Banco Santander SA and BNP Paribas SA, which would provide as much as 8 billion euros ($10.3 billion), Sole said. Enel fell 1 percent to 4.36 euros.
Eni SpA (ENI IM): Libya may raise its holding in Italy’s biggest energy company, Libyan Investment Authority Chairman Abdulhafid Zlitni told Corriere della Sera. The extent to which the fund may increase its stake in oil-and-gas producer Eni “will depend on prices and circumstances,” Zlitni told the newspaper. Eni rose 2.4 percent to 17.23 euros.
Zlitni also said Libya may buy stakes in other Italian lenders after UniCredit SpA (UCG IM) and that it’s ready to reopen talks with Telecom Italia SpA after negotiations with the phone company were put on hold. UniCredit shares fell 2.9 percent to 1.32 euros.
Fiat SpA (F IM): Italy’s largest carmaker will obtain credit lines from three banks for 1 billion euros, Il Messaggero reported. Intesa Sanpaolo SpA and UniCredit SpA will provide 400 million euros each and Credit Agricole SA’s Calyon investment- banking unit 200 million euros, the newspaper said. Fiat rose 0.8 percent to 4.38 euros.
Galp Energia SGPS SA (GALP PL): Portugal’s biggest oil company said refined-product sales rose 13 percent to 4.3 million tons in the fourth quarter after it purchased the Agip network of service stations in Spain and Portugal. The shares rose 4.7 cents, or 0.5 percent, to 9.15 euros.
Groupe Danone SA (BN FP): The world’s largest yogurt maker’s stake in Chinese partner Hagzhou Wahaha Group Co. is “not strategic any more,” Investir said, citing an interview with Chief Executive Officer Franck Riboud. The shares rose 85 cents, or 2.3 percent, to 38.54 euros.
Grupo Ferrovial SA (FER SM): The U.K.-based private equity company 3i Group Plc has withdrawn from bidding for the Spanish builder’s London Gatwick airport, the Sunday Times reported. The shares gained 49 cents, or 2.2 percent, to 22.32 euros.
Hennes & Mauritz AB (HMB SS): Europe’s second-biggest clothing retailer will report sales figures for January. Hennes & Mauritz lost 1.6 percent to 329 kronor.
Hypo Real Estate Holding AG (HRX GY): Hypo is the only German bank that could be nationalized as the government will narrow a planned law to exclude other lenders, Reuters said, citing unidentified people from the government. The shares dropped 5 cents, or 4.2 percent, to 1.13 euros.
Legal & General Group Plc (LGEN LN): (The U.K.’s third- largest insurer is in talks with the U.K. Financial Services Authority over the amount of money it should set aside for defaults in its bond portfolio, the Financial Times reported, citing unidentified people familiar with the company. The stock fell 5.2 percent, or 9.5 percent, to 49.5 pence.
Lloyds Banking Group Plc (LLOY LN): The U.K. bank formed by Lloyds TSB Group Plc’s takeover of HBOS Plc will pay 120 million pounds ($172.3 million) in staff bonuses, the Sunday Telegraph said, citing unidentified people close to the bank. The shares dropped 29.5 pence, or 32.5 percent, to 61.4 pence.
Repsol YPF SA (REP SM): Ecuador’s President Rafael Correa said he has given the order to begin a lawsuit against Spain’s largest oil company and Perenco SA, a French oil company, over their failure to pay taxes. The shares advanced 9 cents, or 0.7 percent, to 13.93 euros.
Rexel SA (RXL FP): The world’s largest distributor of electrical equipment plans to cut staff numbers by 5 percent to 6 percent this year, as it did in 2008, Le Journal des Finances said, citing an interview with Chairman Jean-Charles Pauze. The shares declined 3 cents, or 0.7 percent, to 4.47 euros.
Rio Tinto Plc (RIO LN): Institutional investors in Rio Tinto Plc have encouraged BHP Billiton Ltd. to restart a takeover bid for its rival, the Sunday Telegraph said. Separately the miner is in talks with investors about possible concessions to its financing deal with Chinalco, the Financial Times reported without attribution. The stock rose 50 pence, or 2.6 percent, to 1989 pence.
Royal Bank of Scotland Group Plc (RBS LN): The biggest U.K. government-controlled bank plans to cut as many as 20,000 jobs and pull out of several emerging markets as it announces losses of 30 billion pounds ($43.1 billion) next week, the Sunday Times reported, without saying where it got the information. The shares dropped 2.2 pence, or 9.2 percent, to 21.8 pence.
RWE AG (RWE GY): Chief Executive Officer Juergen Grossmann aims to reorganize the German utility’s units to simplify its structure and cut costs, Sueddeutsche Zeitung said, citing unidentified people at the company. The stock dropped 1.46 euros, or 2.5 percent, to 57 euros.
Saab AB (SAABB SS): The Linkoeping, Sweden-based company is proposing to sell 85 Gripen fighter planes for 4.8 billion euros to the Netherlands, which plans to replace current F-16 planes, NRC Handelsblad reported Feb. 14, citing several unidentified people in Sweden. Saab retreated 16 percent to 67.5 kronor.
Securitas AB (SECUB SS): The world’s largest security company may say it had net income of 630.7 million kronor for the fourth quarter on sales of 16 billion kronor, according to analysts. The share climbed 1.1 percent to 69.5 kronor.
Telecom Italia SpA (TIT IM): Italy’s biggest phone company may have hired Morgan Stanley to manage the sale of its German business Hansenet, Il Sole 24 Ore said. It also hired Merrill Lynch & Co. to advise on its television business Telecom Italia Media SpA (TME IM), the newspaper said. Telecom Italia rose 4.5 percent to 1.05 euros and Telecom Italia Media gained 0.1 percent to 7.89 euro cents.
TNT NV (TNT NA): Europe’s No. 2 express-delivery company will report fourth-quarter earnings before the start of trading. TNT may say profit for the period rose 26 percent after the company completed spending on eliminating jobs at its mail unit. The shares rose 16 cents, or 1.1 percent, to 14.60 euros.
William Hill Plc (WMH LN): The U.K.’s second-biggest bookmaker will announce plans later this month for a 200 million- pound ($287 million) rights offer, the Sunday Telegraph said, without saying where it got the information. The shares rose 8.75 pence, or 3.6 percent, to 250 pence.
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Sunday, February 22, 2009
Credit Suisse BBVA, Credit Suisse, Eni, STMicro: European Equity Preview
Posted by SIGMAFOREX at 10:41 AM
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