Europe Movers: Deutsche Wohnen, Telecom Italia, Fraport, Manz, DSM

Arthi Gupta
12 Nov, 2012
New York City

Deutsche Wohnen nine months consolidated profit more than doubled. Telecom Italia soars on Egyptian investor offer of

[R]1:30 PM Frankfurt – Deutsche Wohnen nine months consolidated profit more than doubled. Telecom Italia soars on Egyptian investor offer of €5 billion. SBM Offshore agreed to sell GustoMSC to Parcom Capital for $185 million.[/R]

Deutsche Wohnen AG rose 2.3% to €14.26 after the real estate firm reported first nine months consolidated profit more than doubled to €50.8 million from €19.7 million the previous year period.

Fraport AG dropped 0.8% to €43.60 after the air transportation hub operator reported it served approximately 5.2 million passengers in October, up 1.4% annually. Cargo tonnage declined 7.3% from a year ago to about 180,000 metric tons in October.

Manz Automation AG fell 0.3% to €20.31 after the flat panel display products manufacturer reported first nine months revenues declined 23.1% to €147.7 million compared with €192 million in the prior-year period.

Koninklijke DSM N.V. advanced 3% to €41.60 after the science company reached an agreement with Borealis AG for the sale of DEXPlastomers V.o.F, a 50/50 joint venture of DSM with an affiliate of ExxonMobil Chemical.

Royal Dutch Shell Plc edged higher 0.4% to 2,146 pence after the oil and gas explorer was forced to shut its Imo River oil pipeline in Nigeria on October 31, after detecting crude theft points on the facility, the company said.

SAS AB gained 3.9% to SEK 6.70 after the airline operator launched a restructuring plan that would result in total annual savings of about SEK 3 billion and asset sale of nearly SEK 3 billion.

SBM Offshore N.V. gained 1.4% to €10 after the floating production and mooring systems provider agreed to the sale and transfer of GustoMSC to Parcom Capital, a private equity group, for about $185 million.

Taylor Wimpey plc dipped 0.2% to 58.85 pence after the homebuilder reported for the 19 weeks through November 12, the order book for future completions is £1.11 billion compared with £1.02 billion last year, with orders from private companies driving the growth.

Telecom Italia S.p.A. soared 5.7% to €0.7305 after reports suggested that the Egyptian billionaire investor Naguib Sawiris is planning to acquire a minority stake in the Italian telecommunications company for an investment of €5 billion.

UC RUSAL Plc climbed 0.2% to HKD 4:45 after the aluminum producer reported third quarter revenue declined to $2.56 billion from $3.16 billion last year. Net loss in the quarter swung to $118 million compared to a profit of $432 million last year.