U.S. News

European Stocks to Watch: Air France-KLM


Shares in Air France-KLM increased on Friday after Deutsche Bank upgraded the stock to “buy” from “hold”.

The European airline’s shares rose 2.93% at 36.17 euros on the Paris 250 Index.

La Repubblica reported late Thursday that Aeroflot and UniCredit could include Air France-KML in their consortium bidding to acquire part of Italian airline Alitalia (down 2.82%) if the government would allow them to do so.

     Also active in European trading:

Infogrames (up 23.81%) Shares soared after the French entertainment group announced late Wednesday that its Board had appointed Patrick Leleu Chairman and CEO following the departure of Bruno Bonnell, founder and Chairman of the company.

Puma (up 6.65%) Share rose on market talk of a possible bid for the German sports equipment maker.

Safran (up 5.73%) The French technology group’s shares increased on Thursday after French newspaper Le Figaro suggested that the group is in moves to merge with state-controlled defense electronics firm Thales.

Old Mutual (up 2.28%) The insurer lead the FTSE 100 Index’s gainers after Citigroup upgraded it from “hold” to “buy”.

Pirelli (up 1.88%) and Telecom Italia (up 0.81%) Shares in Telecom Italia and its biggest investor were up after Pirelli’s Chairman Marco Tronchetti Provera said he’s seeking to replace Telecom Italia Chairman Guidio Rossi in order to improve the telecoms future strategy. U.S. AT&T is currently considering bidding for the Italian telecommunications company.

Electrolux (down 1.70%) Electrolux’s shares fell after The Nation reported that the Swedish company will be investing $19 million to double the annual capacity of its Rayong plant to 300,000 washing machines by the fourth quarter.