Europe Movers: Credit Suisse, easyJet, Fiat, HomeServe, ING, Syngenta

Arthi Gupta
20 Nov, 2012
New York City

Credit Suisse announced organizational changes. easyJet annual revenue rose 11.6% to

[R]12:00 PM Frankfurt – Credit Suisse announced organizational changes. easyJet annual revenue rose 11.6% to £3.85 billion. Fiat Industrial sweetened bid offer for CNH Global. ING agreed to sell its investment management business in Thailand for €10 million.[/R]

Credit Suisse Group AG slumped 2.6% to Sfr21.01 after the financial services provider announced changes in its organizational structure and to its executive board from November 30.

easyJet plc soared 6% to 691.50 pence after the low-cost airline reported full-year total revenue rose 11.6% to £3.85 billion from the previous year. Pre-tax profit for the period soared 27.9% to £317 million compared with £248 million last year.

Fiat Industrial S.p.A. climbed 1.2% to €8.34 after the heavy machinery and vehicles equipment manufacturer sweetened its offer for CNH Global N.V. shares not held by it. The final offer contemplates adding a substantial cash dividend of $10 per CNH share to be paid to CNH shareholders prior to the merger.

Fiat Industrial already owns about 88% of CNH''s shares.

Fielmann AG gained 1.2% to €72.98 after the German optics company said its founder and Chief Executive Officer Guenther Fielmann would transfer 24.52% of the shares in the company to the Fielmann Family Foundation, as part of his succession plans.

GlaxoSmithKline plc, the healthcare group dipped 0.5% to 1,330 pence after the U.S. Food and Drug Administration approved Promacta for the treatment of thrombocytopenia in patients with chronic hepatitis C to allow them initiate and maintain interferon-based therapy.

HomeServe plc increased 2.2% to 227.90 pence after the home emergency repairs provider reported first-half revenue rose 8% annually to £229.6 million. Net profit for the period rose to £13.7 million or 4.2 pence per share from £13.5 million or 4.1 per share in 2011.

ING Groep NV surged 4% to $8.64 after the lender agreed to sell its investment management business in Thailand to UOB Asset Management Ltd for €10 million.

McKay Securities plc declined 1.2% to 138.38 pence after the investment company reported first-half pre-tax loss narrowed to £2.7 million compared with loss of £13.98 million in a year ago period.

Syngenta AG fell 0.6% to Sfr356.70 after the agri-business said that it will acquire Sunfield Seeds, a U.S.-based provider of sunflower seeds production and processing services.

The British Land Company plc rose 1.3% to 521.59 pence after the real estate investment trust reported first-half profit before tax fell to £109 million from £331 million in the previous year.