Europe Movers: adidas, Richemont, Saint-Gobain, Syngenta

Arthi Gupta
21 Sep, 2012
New York City

adidas reduced Reebok 2015 sales target to

[R]2:00 PM Frankfurt – adidas reduced Reebok 2015 sales target to €2 billion from €3 billion. Barry Callebaut intends to sell its factory and related business in Dijon. Richemont agreed to acquire Peter Millar.[/R]

adidas AG fell 1.7% to €64.50 after the sports footwear maker estimates full year earnings a share to increase 15% to 17% or between €770 million and €785 million.

Barry Callebaut AG declined 0.6% to Sfr888.50 and the cocoa and chocolate producer intends to sell its factory and the related business in Dijon, France to ""Chocolaterie de Bourgogne.""

Compagnie de Saint-Gobain SA climbed 0.1% to €29.89 after the construction materials producer acquired a 25.1% stake in Zao Isoroc to grow its Insulation Activity in Russia.

Compagnie Financière Richemont SA dropped 0.5% to Sfr59.90 and the luxury goods company agreed to acquire Peter Millar LLC, a U.S.-based, international luxury apparel business, in a private transaction.

DCC plc rose 1.8% to €22.14 and the business support services group signed a conditional agreement with BP Plc to buy Benegas for €24.5 million.

Kuoni Reisen Holding AG soared 2.8% to Sfr267.25 and the Swiss tourist travel operator plans to explore exit options from different small loss-making tour operating businesses that are not strategic for the group.

Syngenta AG slid 0.03% to Sfr344.40 and the agribusiness announced a bid for the Belgian company Devgen for €16 per share or around €403 million.

Technip SA gained 1.6% to €88.93 after the oilfield services provider was awarded by Statoil a contract for the fabrication, installation and tie-ins of flowlines for the Gullfaks South field development.