Europe Movers: AstraZeneca, HSBC, Nokia, Rio Tinto, Tesco

Arthi Gupta
05 Dec, 2012
New York City

HSBC to sell its entire stake in Ping An Insurance for $9.4 billion. Nokia launched Lumia 920T in China. Tesco third quarter group sales increased 2.4%.

[R]1:00 PM Frankfurt – HSBC to sell its entire stake in Ping An Insurance for $9.4 billion. Nokia launched Lumia 920T in China. Tesco third quarter group sales increased 2.4%.[/R]

AstraZeneca PLC rose 0.1% to 2,980 pence after the biopharmaceutical company announced a new program with more than 26,000 national, regional and independent pharmacies to broaden stocking of Brilinta (ticagrelor) tablets, enhancing its retail availability in the United States.

HSBC Holdings Plc gained 0.9% to 641.70 pence after the lender agreed to sell its entire 15.57% stake in Ping An Insurance (Group) Co. of China to a conglomerate Charoen Pokphand Group Co. for HK$72.74 billion or $9.39 billion.

Merck KGaA climbed 0.6% to €103.05 after the German drug maker estimated its Merck Millipore division to deliver net cost savings of approximately €40 million by 2017 and will result in one-time costs of approximately €160 million between 2013 and 2015.

Nokia Oyj soared 7.3% to €2.71 after the Finnish mobile phone maker announced the launch of Lumia 920T, the first TD-SCDMA Windows Phone in China.

Rio Tinto Plc advanced 2.5% to 3,208.50 pence after the miner said it has priced €1.25 billion and £500 million of fixed rate notes under its European Debt Issuance Program.

Tesco Plc increased 2.9% to 336.15 pence after the retailer reported third quarter group sales increased 2.4% including petrol at constant exchange rates and 2.9% excluding petrol at constant exchange rates. Total sales including VAT and petrol grew 1.7% and 2.3% excluding petrol. Comparable sales, excluding both VAT and petrol, fell 0.6% in the quarter.

The Monks Investment Trust PLC gained 0.3% to 307.39 pence after the investment company reported first-half pre-tax return on ordinary activities fell to £6.73 million compared to £9.21 million pounds a year ago.