European Stocks to Watch
Here are some of Wednesday’s big movers on European stock markets:
Bauer (up 5.45%) Deutsche Bank raised the German machinery firm’s target to 57 euros from 37 euros, saying the company’s equipment earnings momentum and full construction profitability should lead to a great financial performance in future.
Vallourec (up 4.80%) The French seamless steel tubes specialist climbed despite Arcelor Mittal denying plans to bid for the company.
Aberdeen Asset Management (up 3.95%) The British financial company reported on Wednesday that its assets under management stood at 78.4 billion pounds ($153.8 billion) at the end of February, up 3.75% from the end of December, confirming that its investment performance remains healthy.
Next (up 2.52%) Britain’s second-largest retailer rose on Wednesday as talk of a 2,500-pence-per-share bid continues to surround the stock.
Total (up 1.38%) The French oil and gas company followed other energy companies higher as oil prices marched higher. Also gaining were BP, Royal Dutch Shell, ENI and Neste Oil.
Beneteau (up 2.21%) French boat-to-car builder reported on Tuesday first-half like-to-like sales climbed 9.3% to 348.7 million euros ($462.8 million).
Lufthansa (down 0.35%) British Airways is considering a 1 billion pound ($2 billion) bid for bmi. The German airline holds a 30% stake in bmi worth around 500 million pounds ($1 billion).
TNT (up 1.08%) The Dutch mail company will buy the remaining 49% stake of call center Cendris BSC Customer Contract it does not own. The amount of the deal was not disclosed.
Technical Olympic (down 4.58%) The homebuilder’s shares fell lower after bonds of its subsidiary Technical Olympic USA plunged more than six points, due to the U.S. housing market woes.
Siemens (down 2.30%) Siemens executive board member, Johannes Feldmayer, was taken into custody on Tuesday in connection with the bribery affair at Germans workers’ association AUB.