Europe Movers: Roche, LVMH, Renault, Telefonica

Arthi Gupta
16 Oct, 2012
New York City

Casino Guichard Perrachon sales soared 35.2% to

[R]1:30 PM Frankfurt – Casino Guichard Perrachon sales soared 35.2% to €11.8 billion and Roche sales rose to Sfr11.27 billion in the third quarter. Telefonica plans to raise €1.68 billion from the initial public offering of its German unit.[/R]

Casino Guichard Perrachon SA fell 2.2% to €68.02 after the retailer reported third quarter sales soared 35.2% to €11.8 billion from the comparable quarter last year.

LVMH Moët Hennessy Louis Vuitton SA declined 0.9% to €122.70 after the French luxury goods company said revenue for the first nine months of 2012 rose 22% to €19.87 billion on the comparable period in 2011.

MorphoSys AG dropped 0.9% to €25.91 after the biotechnology company said that DiaSorin S.p.A., a specialty assays provider has taken a license for two recombinant HuCAL antibodies.

Renault SA slid 2.1% to €35.07 after the French automaker and its Japanese partner Nissan Motor Co. Ltd. plan to double the annual cost savings from their alliance to €4 billion or $5.2 billion by 2016, according to media reports on Monday.

Roche Holding AG rose 0.1% to Sfr184 after the Swiss pharmaceuticals company reported third quarter sales rose to Sfr11.27 billion from Sfr9.82 billion a year ago. For the nine-month period, sales grew to Sfr33.69 billion from Sfr31.49 billion in the previous year.

Telefonica S.A. climbed 1.1% to €10.29 after the Spanish telecom operator plans to raise €1.68 billion from the initial public offering of its German unit. Telefonica Deutschland Holding AG by selling 225 million registered shares at €5.25 to €6.50 per share and overallotments option of up to 33.75 million shares.