European Stocks to Watch
Here some of Thursday’s big movers on European stock markets: Bwin Interactive Entertainment, Sidenor, William Demant, Sacyr Vallehermoso, Pernod Ricard, Carrefour and TUI.
Bwin Interactive Entertainment (up 11.71%) The Austrian Internet bookmaker confirmed that is in "very preliminary talks" with Sportingbet about a possible acquisition.
Sidenor (up 9.16%) Morgan Stanley initiated coverage of Greece-based metals company Sidenor with an "overweight" rating and a price target of 14.80 euros, the news made shares rise.
William Demant (up 7.82%) The Danish hearing aid maker William Demant posted a 15% rise in 2006 operating profit on Thursday and forecast 9 to 12% revenue growth in 2007 on the back of a new wireless product, sending shares higher.
Sacyr Vallehermoso (up 6.01%) Sacyr Vallehermoso’s shares are up on speculation that Repsol, Gas Natural and Union Fenosa could merge, a trader told Reuters. Sacyr holds a 20% stake in Repsol.
Pernod Ricard (down 4.58%) The world's second largest spirits group on Thursday reported first-half net profit and operating profit below expectations, and gave a conservative outlook for the full year.
Carrefour (down 1.34%) Carrefour's full-year results were in line, Citigroup said, but the management needs to clarify its strategy, after intensive management changes and new stake holders Arnault and Colony Capital.
TUI (down 0.78%) TUI said Thursday that Swiss investment bank UBS had reduced its stake in the German shipping and tourism company to 1.69% from above 3% held previously, sending shares lower.