Market Updates
Europe Movers: Fresenius, Holcim, Novartis, Total
Arthi Gupta
03 Sep, 2012
New York City
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Fresenius decided to not make an offer to acquire Rhon-Klinikum AG. Holcim Ltd targeted higher return on invested capital and improve operating profit. Three former executives at UBS AG were convicted in municipal financing fraud contract.
Fresenius SE & Co. KGaA advanced 2.2% to €86.66 after the Germany based dialysis services provider decided not to submit a new takeover offer for RHÖN-KLINIKUM AG.
Holcim Ltd rose 0.3% to Sfr58.75 and the cement supplier targeted to improve the return on invested capital and increase operating profit by at least Sfr1.5 billion by the end of 2014 compared to 2011.
Novartis AG climbed 0.4% to Sfr56.50 after the healthcare solutions provider presented additional data showing the efficacy of once-daily COPD portfolio versus comparators.
Total SA gained 0.4% to €39.86 after the oil and gas explorer acquired a 40% interest in the offshore Block M-11 in Martaban basin.
UBS AG, the financial services provider advanced 0.3% to Sfr10.71 after three former executives of the company were convicted for participating in municipal finance contracts.
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