Europe Movers: Prada, Telecom Italia, Daimler, Deutsche Telekom, Publicis

Arthi Gupta
07 Dec, 2012
New York City

Daimler sold a 7.5%-stake in EADS for about

[R]9:30 AM Frankfurt – Daimler sold a 7.5%-stake in EADS for about €1.66 billion. Prada third quarter revenues grew 33% to €791.95 million. Publicis acquired two agencies in India.[/R]

Alcatel-Lucent S.A. dipped 0.1% to 88 euro cents after the French telecom equipment maker is considering mortgaging assets to buy time for a restructuring, the Wall Street Journal reported yesterday.

BG Group Plc fell 0.7% to 1,067.68 pence after the oil and gas explorer is considering the sale of non-strategic assets related to its $20 billion natural gas development in Australia, as the firm tries to unlock more capital to meet its spending commitments, the Financial Times reported.

Deutsche Telekom AG declined 0.5% to €8.58 after the German telecom operator planned to invest €6 billion in broadband roll-out in Germany using optical fiber and vectoring.

Daimler AG rose 1.2% to €38.65 after the automaker sold a 7.5%-stake in EADS for approximately €1.66 billion.

Prada S.p.A soared 8.6% to HKD 70.05 after the leather goods manufacturer reported third quarter net revenues grew 33% to €791.95 million from the same period last year. Net income for the quarter climbed 30% to €122.14 million from €93.63 million in the year-ago period.

Polar Capital Holdings PLC edged lower 0.5% to 210 pence after the investment manager reported first-half total revenue fell to £17.63 million compared with £18.73 million a year before. Profit in the period declined to £2.81 million or 3.17 pence per share from £2.88 million or 3.28 pence per share a year ago.

Publicis Groupe S.A. climbed 1.5% to €44.95 after the French communications firm announced the acquisition of two different agencies in India - iStrat as well as MarketGate.

Telecom Italia S.p.A., the telecommunications operator dropped 1.7% to €0.71 after its board of directors authorized the management to negotiate with Italian state fund Cassa Depositi e Prestiti S.p.A to investing in a new business that will manage the access network.