Europe Movers: BASF, Intermediate Capital, Novartis, Suedzucker

Arthi Gupta
21 Nov, 2012
New York City

BASF plans to acquire Pronova BioPharma. Nokia completed the acquisition of earthmine. Intermediate Capital said first-half pre-tax profit fell 64% to

[R]12:00 PM Frankfurt – BASF plans to acquire Pronova BioPharma. Nokia completed the acquisition of earthmine. Intermediate Capital said first-half pre-tax profit fell 64% to £39.6 million.[/R]

BASF SE dipped 0.1% to €65.74 after the Germany-based chemical company plans to acquire Pronova BioPharma ASA, Lysaker, Norway, a developer and maker of omega-3 fatty acids.

French Connection Group plunged 6.9% to 23.27 pence after the clothing retailer said on a comparable basis, revenue during the third quarter was flat on last year compared to the decline of 9.5% in the first half of the year.

Intermediate Capital Group plc fell 0.4% to 293.09 pence after the mezzanine provider said first-half profit before tax fell 64% to £39.6 million compared to £108.8 million in the first half of last year.

Glanbia Plc soared 3.3% to €7.98 after the dairy food company’s shareholders approved the proposal to enter into a dairy processing joint venture with the majority shareholder, Glanbia Co-operative Society Limited.

Nokia Oyj climbed 1% to €2.37 and the mobile communications provider completed the acquisition of earthmine.

Novartis AG gained 0.1% to Sfr55.50 after the healthcare solutions provider received FDA approval for Flucelvax, the first cell-culture vaccine in US to help protect against seasonal influenza.

Suedzucker AG declined 0.5% to €30.75 after the sugar producer resolved to offer to all holders of the outstanding 2.5% 2016 convertible bonds to buy back the convertible bonds at € 91,250 per bond, equivalent to 182.5% of par value.

Telefonaktiebolaget LM Ericsson climbed 0.2% to SEK 58.30 after the communications technology and services provider said in its Mobility Report that approximately 40% of all phones sold in the third quarter were smartphones and data traffic doubled in the third quarter from a year ago.