Europe Movers: Anglo American, Philips, RBS, William Hill

Barry Randall
29 Jan, 2013
New York City

Anglo American, the iron ore miner, gained after it reported lower than expected write down of $4 billion at its mining operation in Brazil. Royal Bank of Scotland faces criminal probe linked to rate rigging and may pay as much as 500 million pounds in fines.

3i Group Plc increased 3% to 266 pence after the company confirmed that activist investor Edward Bramson has increased his stake in the venture capital fund operator.

Anglo American Plc added 3% to 1,929 pence after the iron ore miner said it has written down $4 billion from the value of its Minas-Rio project in Brazil and raised its capital spending estimate.

BT Group Plc decreased 2% to 246 pence after negative comments from Merrill Lynch indicated efforts to increase sales are increasing cost and lowering earnings growth.

Royal Philips gained 2% to 22.40 euros after the world’s largest lighting systems maker said fourth quarter operating earnings increased 50% to 875 million euros.

Royal Bank of Scotland declined 6% to 345 pence after the U.S. authorities brought criminal charges that the lender attempted to rig interest rates. People familiar with the talks with the U.S. Justice Department suggested that the bank may agree as early as this Friday to settle charges and pay 500 million pounds.

Software AG plunged 17% to 28.50 euros after Germany based infrastructure software developer reported lower than expected revenues of 276 million euros and net income of 50.7 million euros.

Saipem SpA declined 3% to 30.40 euros after Merrill Lynch sold 9.97 million shares in the largest Europe based oil platform service contractor at 30.65 euros, according to Bloomberg News.

William Hill advanced 2% to 374 pence after the U.K. based gambling bookmaker said full-year revenues rose 12% on stronger than expected fourth quarter results. The full-year data are scheduled to be released on March 1.