European Stocks to Watch: Lloyds TSB
Shares in Lloyds TSB gained 0.8% as the British bank looked to auction off its Abbey Life insurance unit, according to a report in the Wall Street Journal, citing sources familiar with the matter Friday.
Abbey Life is thought to be worth about 1 billion pounds ($1.97 billion) and has attracted interest from Resolution and Swiss Reinsurance, according to the Journal's sources.
Lloyds Finance Chief Helen Weir declined to comment on the possible sale when speaking last week, the Journal reported.
Television Francaise 1 (Down 1.8%) Goldman Sachs downgraded the French broadcasting company to "sell" from "neutral" due to a slowdown in French TV advertising.
Speedy Hire (Up 3.5%) Shares in the U.K. tool-hire business rose as UBS raised the stock to "buy" from "neutral," citing growth in the sector and reduced competition following the company's recent acquisition of Hewden Tools.
Aquarius Platinum (Up 0.1%) Shares in metal producer fell as Morgan Stanley cut its stock to "equalweight" from "overweight," claiming that a period of consolidation in the share price will follow a recent surge.