European Stocks to Watch: Nordex
Shares of Germany's Nordex surged 14% at the European open on continued speculation its two main shareholders, Goldman Sachs and CMP Capital Management Partners, were planning to sell their stakes in the wind-turbine maker.
The stock dramatically reversed direction, however, falling 3% into the red, on possible profit taking. It eventually bounced back into positive territory with a 0.5% gain in midmorning trading.
Shareholders have received at least three attractive offers, according to Reuters, and the sale of the stake appears likely within the year.
Alstom (1.9% higher) Shares of the French engineering group gained on news it won two power plant contracts worth a combined 1.85 billion euros ($2.51 billion).
Unibail Rodamco (1.2% lower) The French-Dutch property group lost ground despite posting strong half-year results and higher-than-expected property valuations. But shares have risen recently on expectation of solid numbers.