Europe Movers: Air France, BMW, Deutsche Post, Xstrata

Arthi Gupta
07 Sep, 2012
New York City

Glencore sweetened bid for Xstrata Plc. KfW Bankengruppe sold 5% stake in Deutsche Post. BMW registered record August sales. Air France-KLM climbed 2.7% after growth in August passenger traffic.

[R]3:00 PM Frankfurt – Glencore sweetened bid for Xstrata Plc. KfW Bankengruppe sold 5% stake in Deutsche Post. BMW registered record August sales. Air France-KLM climbed 2.7% after growth in August passenger traffic.[/R]

Air France-KLM SA climbed 2.7% to €4.26 after the Franco-Dutch airline reported a 0.6% growth in August passenger traffic to 20.925 billion revenues pax-kilometers, from 20.805 billion last year. Available seat-kilometers capacity climbed 0.6% to 24.42 billion from 24.26 billion a year ago.

Total group''s load factor dipped to 85.7% in August compared with 85.8% in August 2011.

BMW AG rose 2.2% to €58.5 after the automobile manufacturer said total sales for August increased 9.7% to a record 121,615 units from 110,903 units in the same month last year.

Since the beginning of the year, the company delivered 1,157,777 vehicles worldwide, an increase of 7.9% compared with the first eight months of the previous year when it delivered 1,073,395 vehicles.

Deutsche Post AG declined 3.7% to €15.4 after KfW Bankengruppe cut its holding in the logistics services provider by 5%.

Glencore International plc slumped 3.9% to 377 pence after the commodities trader lifted its offer for Xstrata Plc. Glencore is now offering 3.05 of its own shares for each Xstrata share in comparison to the 2.8 shares on offer.

In addition, Glencore''s CEO Ivan Glasenberg will take the helm at the combined company.