Europe Movers: BMW, Dexia, Elekta, ICON, Philips, Wolseley

Arthi Gupta
04 Dec, 2012
New York City

Elekta six month net sales rose 22% to SEK 4.18 billion. Wolseley first quarter revenue rose 2.1% to

[R]1:00 PM Frankfurt – Elekta six month net sales rose 22% to SEK 4.18 billion. Wolseley first quarter revenue rose 2.1% to £3.325 billion. Philips Electronics estimates fourth quarter restructuring costs to rise 27% to €380 million.[/R]

BMW AG rose 1.1% to €68.61 after the automobile maker said U.S. sales in November surged 38.8% to 36,461 vehicles from the 26,271 vehicles sold in the month a year ago.

Deutsche Post AG fell 0.7% to €15.97 after the logistics services provider plans funding of pension obligations through the issuance of up to €2 billion via a convertible bond and two conventional bonds.

Dexia SA soared 11.11% to €0.1 after the Belgium-based banking group is in exclusive negotiations with GCS Capital, a Hong Kong-based investment firm for the sale of its division, Dexia Asset Management, according to media reports.

Elekta AB dropped 0.6% to SEK 96.15 after the clinical solutions provider reported May-October net sales increased 22% to SEK 4.18 billion from the prior year. Net income for the period fell to SEK 273 million or 70 cents per diluted share compared to SEK 295 million or 77 cents per share last year.

E.ON AG gained 0.4% to €13.85 after the energy solutions provider would acquire Vienna-based Verbund AG share of EnerjiSA, giving it stakes in EnerjiSA''s power generation capacity and projects and power distribution business in Turkey. In exchange, E.ON would transfer its interests in certain hydroelectric stations in Bavaria to Verbund.

ICON plc plunged 5.2% to €21.10 after the development services provider estimated full year 2013 net revenue between $1.210 billion and $1.240 billion and earnings per between $1.40 and $1.55.

ITE Group plc soared 6.4% to 209.90 pence after the trade exhibitions organizer reported full year revenues rose 11% to £172 million and headline profits rose 3% to £53 million.

Koninklijke Philips Electronics NV climbed 0.8% to €20.1 after the Dutch consumer electronics manufacturer anticipated fourth quarter restructuring costs to rise 27% to €380 million from earlier projection of €300 million.

May Gurney Integrated Services PLC advanced 1.5% to 172 pence after the infrastructure support services provider reported first-half group revenues rose 4% to £338.9 million and underlying EBITA was £12.6 million.

Wolseley Plc dipped 0.1% to 2,860 pence after the British plumbing and heating products distributor reported first quarter revenue rose 2.1% to £3.325 billion.