Market Updates

Europe Movers: Infineon, Banco Santander, ICAP, LSE

Arthi Gupta
26 Sep, 2012
New York City

    Infineon revised fourth quarter revenue guidance. Banco Santander priced initial public offering of its Mexican subsidiary. ICAP estimated first-half group revenue to be lower than the previous year.

[R]1:00 PM Frankfurt – Infineon revised fourth quarter revenue guidance. Banco Santander priced initial public offering of its Mexican subsidiary. ICAP estimated first-half group revenue to be lower than the previous year.[/R]

ArcelorMittal SA slumped 3.1% to €11.71 after the steel producer successfully priced an offering of $650 million subordinated perpetual capital securities.

Banco Santander SA fell 2.5% to €6.05 after the financial institution priced the offering of shares of Grupo Financiero Santander Mexico at 31.25 Mexican pesos a share valuing Santander Mexico at €12.78 billion or $16.54 billion.

ICAP plc plunged 4.2% to 329.50 pence after the interdealer broker said first-half group revenue is estimated to be around 14% lower than the previous year.

Infineon Technologies AG declined 3.1% to €4.95 after the semiconductor maker estimates fourth quarter revenue to be slightly down compared to the third quarter.

London Stock Exchange Group Plc slid 1.2% to 1,047 pence after the stock exchange said for the five-month period ended August 31 that new issue levels and trading remained subdued compared with the prior year.

Koninklijke Philips Electronics NV fell 1.4% to €18.73 after the electronics company and Jones Lang LaSalle inked an agreement to deliver lighting and energy management solutions to all Jones Lang LaSalle clients.

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