Europe Movers: Aegon, UBS, Ericsson, Symrise, TeliaSonera, Merck

Arthi Gupta
20 Dec, 2012
New York City

Aegon formed strategic partnership with Banco Santander. UBS to face Hong Kong rate manipulation probe. TeliaSonera agreed to divest NextGenTel to Telio for NOK 601 million.

[R]12:40 PM Frankfurt – Aegon formed strategic partnership with Banco Santander. UBS to face Hong Kong rate manipulation probe. TeliaSonera agreed to divest NextGenTel to Telio for NOK 601 million.[/R]

Aegon N.V. climbed 0.4% to €4.84 after the insurer formed an exclusive 25-year strategic partnership with Banco Santander to distribute both protection and general insurance products.

Under the terms of the agreement, Aegon will acquire a 51% stake in both a life insurance company as well as in a non-life insurance company for a consideration of €220 million.

James Fisher & Sons Plc gained 0.6% to 799.40 pence after the engineering services provider announced the sale of The Railway Engineering Company Limited to Hitachi Europe Ltd for £25.5 million in cash payable at completion.

Telefonaktiebolaget LM Ericsson slumped 3% to SEK 64.35 after the Swedish telecom company said that it will take a non-cash charge of approximately SEK 8 billion in the fourth quarter related to its 50% stake in ST-Ericsson.

Merck KgaA, the German drugmaker advanced 0.8% to €100.25 after a broker upgrade.

Rheinmetall AG, the car parts manufacturer declined 2.7% to €36.45 after negative broker comments.

Symrise AG rose 0.4% to €27.38 after the flavors manufacturer inked a research and development deal with Probi AB, the Swedish probiotics company to collaborate on health projects including oral health applications.

TeliaSonera AB fell 0.3% to SEK 44.26 after the telecommunications provider agreed to divest its Norwegian subsidiary NextGenTel to Telio Plc for NOK 601 million or approximately SEK 700 million on a cash and debt free basis.

UBS AG dropped 1.1% to Sfr15.04 after the Hong Kong Monetary Authority announced that it has commenced an investigation into possible misconduct by the Swiss lender involving submissions for the Hong Kong Interbank Offered Rate and other reference rates.