Europe Movers: Aurubis, Renault, BHP, Dexia, Sports Direct, Societe Generale

Arthi Gupta
13 Dec, 2012
New York City

Renault sells remaining 6.5% stake in Volvo for SEK 12.78 billion. Aurubis quarterly net slumped 35%. Dexia agreed to sell its asset management business to GCS Capital for

[R]2:00 PM Frankfurt – Renault sells remaining 6.5% stake in Volvo for SEK 12.78 billion. Aurubis quarterly net slumped 35%. Dexia agreed to sell its asset management business to GCS Capital for €380 million.[/R]

Aurubis Ag rose 0.4% to €51.33after the German copper producer reported fourth quarter revenues slid 1% to €3.55 billion. Consolidated net income in the quarter fell 35% to €34 million compared with €53 million last year.

Bayer AG dipped 0.2% to €72.10 after the pharmaceutical company''s unit Bayer HealthCare said it has submitted a marketing authorization application to the European Medicines Agency for radium-223 dichloride for the treatment of castration-resistant prostate cancer.

BHP Billiton plc declined 0.3% to 2,062.50 pence after the miner approved a $520 million investment in the Longford Gas Conditioning Plant project as part of the Gippsland Basin Joint Venture located in Victoria, Australia.

BG Group Plc declined 1.6% to 1,047.68 pence after the oil and gas explorer appointed Chris Finlayson as chief executive officer to succeed Frank Chapman from January 1.

Dexia SA soared 28.6% to €0.09 after the Belgian-French bank inked exclusive negotiations with GCS Capital for the sale of Dexia Asset Management for €380 million.

Renault SA gained 2.3% to €40.52 after the French car maker sold its remaining 6.5% stake in AB Volvo for SEK 12.78 billion or about $1.92 billion.

Sports Direct International plc slumped 5.8% to 385.60 pence after the sporting goods retailer reported first-half group revenue increased to £1.09 billion from £888.6 million last year. Profit for the period increased to £91.4 million from £71.3 million prior year.

Societe Generale SA edged lower 0.6% to €29.35 after the French lender agreed to sell the majority stake in National Société Générale Bank, its Egyptian subsidiary to Qatar National Bank Group for about $1.97 billion.