Europe Movers: ABB, AkzoNobel, ArcelorMittal, G4S, UBS, CVS

Arthi Gupta
14 Dec, 2012
New York City

UBS faces a fine of $1 billion in the Libor probe. ABB plans to restructure its power systems division to seek higher returns. G4S agreed to buy South Africa-based Deposita for

[R]12:40 PM Frankfurt – UBS faces a fine of $1 billion in the Libor probe. ABB plans to restructure its power systems division to seek higher returns. G4S agreed to buy South Africa-based Deposita for £8.2 million.[/R]

ABB Ltd. rose 0.1% to Sfr18.77 after the power and automation technologies provider said it plans to reposition its power systems division to drive higher returns. The company has raised the division’s 2011-2015 operational EBITDA margin target range between 9% and 12% from the current range of 7% to 11%.

AkzoNobel N.V. soared 5.5% to €47.96 after the U.S.-based PPG Industries Inc. agreed to acquire the North American architectural coatings business of the paints manufacturer in a deal valued at $1.05 billion.

Alcatel-Lucent SA surged 11.1% to €0.95 after the telecom equipment maker entered into commitments with Credit Suisse AG and Goldman Sachs Bank USA for €1.615 billion in senior secured credit facilities.

ArcelorMittal SA gained 0.2% to €12.68 after the steel producer and Nunavut Iron Ore became equal partners in Baffinland. Nunavut agreed to increase its interest in Baffinland from 30% to 50%.

bwin.party digital entertainment plc climbed 2% to 113.20 pence after the online gambling company inked an agreement with Belcasinos SA, a wholly-owned subsidiary of Groupe Partouche SA, the largest owner of land-based casinos in Belgium. Financial terms were not disclosed.

CVS Group PLC declined 1% to 166 pence after the veterinary service providers said that comparable sales for the five-month period ended November 30 rose 4.5% compared to the same period last year.

European Aeronautic Defence and Space Co., the military contractor dipped 0.1% to €29.20 after AirAsia, the largest low-cost airline in Asia placed a new order with Airbus for 100 more A320 Family aircraft. The order is estimated to be valued at $9.4 billion at list price.

G4S plc dropped 0.04% to 252.50 pence after the secure solutions provider agreed to acquire South Africa-based Deposita Systems Pty Ltd together with certain related intellectual property rights.

Upon completion, G4S will own 87% of the shares in Deposita and pay total consideration of £8.2 million post debt restructuring.

Rockhopper Exploration Plc edged lower 1.3% to 158 pence after the oil and gas explorer reported first-half loss narrowed to $6.38 million from $32.53 million a year ago.

UBS AG decreased 0.4% to Sfr15.02 after the Swiss bank is said to face a fine of as much as $1 billion from regulatory agencies in the U.S. and UK for the Libor rate manipulation. The bank has already fired 25 people connected with the rate scandal and at least 15 other banks are under investigation.