Europe Movers: Atari, Bankia, KBC, Vinci

Nigel Thomas
28 Dec, 2012
New York City

Atari, the struggling game maker declined after it estimated fiscal year loss. Bankia, troubled Spanish bank, plunged 22% after it was removed the Spanish benchmark IBEX 35. Belgium based KBC Groep NV agreed to sell its stake in a bank in Slovenia. Vinci SA acquired Portugal controlled ANA.

Atari declined 6% to 89 euro cents after the video game maker said it will report an operating loss in the second half of current fiscal year and estimated a “significant” loss in the year.

Royal Caribbean Cruise Ltd awarded a contract to build 361 meter “Oasis” class cruise ship to a shipyard controlled by STX France SA for more than €1 billion. The contract terms also includes an option for a second ship.

European banks were under pressure. Banco Santander declined 2% to €5.99 and BNP Paribas SA fell 2.1% to €42.59.

KBC Groep NV, the largest bank and insurance group of Belgium declined 1.3% to €25.90 after it agreed to sell its stake in Slovenia based Nova Ljubljanska Banka d.d. The bank is still behind in missing a deadline imposed by the European Union to dispose other asssets.

Bankia plunged 22% to 42.79 euro cents, a new low since it was listed in July 2011, and the stock will be dropped from the Spanish benchmark IBEX 35 from next year.

Porsche SE soared 6% to €61.56, the high not seen last January, after the company won a lawsuit on appeal that it planned to corner Volkswagen AG shares. The group of hedge funds based in the U.S. had sought more than $1 billion in damages.

Vinci SA declined 1.7% to €36.09 after it agreed to purchase Portugal based airport operator ANA controlled by the government for €3.08 billion.