Europe Movers: Banco Santander, Telenor, Novartis, KPN, H & M

Arthi Gupta
17 Dec, 2012
New York City

Zurich Insurance estimated aggregate claims net of reinsurance of about $700 million relating to storm Sandy. H & M November group total sales increased 7%. Linde agreed to acquire Calea France.

[R]12:50 PM Frankfurt – Zurich Insurance estimated aggregate claims net of reinsurance of about $700 million relating to storm Sandy. H & M November group total sales increased 7%. Linde agreed to acquire Calea France.[/R]

Banco Santander, S.A. declined 1% to €5.84 after Spanish bank decided to absorb Banesto and Banif, combining its brands in Spain. Banco Santander currently holds 89.74% of Banesto’s share capital.

The integration of Santander, Banesto and Banif will allow the rationalization of the branch network, with the closure of about 700 of the three banks’ 4,664 offices.

Evotec AG rose 1.1% to €2.74 after the small molecule drugs developer entered into a license agreement with Janssen Pharmaceuticals, Inc. regarding its NR2B subtype selective NMDA-antagonist portfolio for development of depression.

H & M Hennes & Mauritz AB gained 2.8% to SEK 223 after the Swedish apparel retailer reported November group total sales including VAT in local currencies increased 7% compared to the same month the previous year. Sales in comparable units decreased 1%.

Sales in the fourth quarter amounted to SEK 37,928 million including VAT and excluding VAT was SEK 32,497 million.

Holcim Ltd dropped 1.2% to Sfr64.90 after the cement supplier anticipated cash costs of Sfr200 million for restructuring costs in 2012.

Linde AG dipped 0.1% to €133.85 after the gases and engineering company agreed to acquire Calea France SAS, the homecare company.

Novartis AG decreased 0.4% to Sfr57.90 after the healthcare solutions provider said that the US Food and Drug Administration approved Signifor (pasireotide) injection for the treatment of adult patients with Cushing''s disease.

Koninklijke KPN NV plunged 13.7% to €3.99 after the telecommunications provider said it would not pay a final dividend over 2012 and the dividend for 2013 would be adjusted to 3 cents per share.

Telenor ASA edged lower 1.8% to NOK 112.30 after the telecommunications provider and Microsoft Corp. inked a global syndication agreement so that collaboration and office solutions for companies will merge into one in the cloud.

The agreement gives Telenor the right to sell licenses for Office 365 as well as the company''s other services.

Zurich Insurance Group Ltd. declined 0.1% to Sfr239.30 after the insurance provider estimated aggregate claims net of reinsurance of about $700 million relating to storm Sandy.