Europe Movers: Belgacom, Mediaset, TDC, Safran

Nigel Thomas
27 Mar, 2013
New York City

Belgian government plans to sell stakes in Belgacom and BNP Paribas to reduced budget deficit. Mediaset said loss for 2012 swung to

[R]3:00 PM Frankfurt – Belgian government plans to sell stakes in Belgacom and BNP Paribas to reduced budget deficit. Mediaset said loss for the year swung to €287.1 million. Private equity shareholder NTC Holding sold another 6.8% stake in TDC. Safran completed acquisition of Goodrich Electrical Power Systems for €300 million.[/R]

In London trading, FTSE 100 index fell 0.6% or 39.3 to 6,360 and in Frankfurt the DAX index dropped 1.3% to 104.5 to 7,775.

In Paris, CAC 40 index declined 1.4% or 54.1 to 3,695.

Belgacom SA fell 2% to €34.51 after the Belgium based mobile service provider as the government plans to sell its stake in the company to meet structural deficit target set by the European Union.

Mediaset SpA jumped 7.1% to €1.66 after the Italy based broadcasting company reported net revenue for the year ending in December dropped 12.4% to €3.72 billion. Loss for the year swung to €287.1 million compared to net profit of €225 million.

TDC A/S slipped 1.8% to 44.59 kroner on report that the private equity shareholder NTC Holding sold another 6.8% stake valued 2.49 billion kroner in the Danish telecom company.

Safran SA dropped 2.7% to €34.51 after the France based aviation technology completed acquisition of Goodrich Electrical Power Systems for €300 million.

The company expects to generate additional revenues of approximately €120 million for nine months in 2013.

TUI Travel Plc jumped 2.9% to 319.40 pence after the UK based leisure traveler expects to report operating profit growth for the year to upper end of guidance of 7% to 10%.