Europe Earnings: Monte Paschi, EADS, Outotec, Sanofi, Vedanta

Nigel Thomas
30 Dec, 2013
New York City

Monte Paschi investors postponed the rights offer to raise

[R]3:40 PM Frankfurt – Monte Paschi investors postponed the rights offer to raise €3 billion. Chinese carrier Zhejiang confirmed that it buy 20 Airbus from EADS. Outotec won contract with Russia-based Norilsk Nickel for €80 million.[/R]

In London trading, FTSE 100 index slipped 0.4% or 28.76 to 6,722 and in Frankfurt the DAX index fell 0.4% or 37.23 to 9,552.

In Paris, CAC 40 index slid 0.2% or 8.91 to 4,269.

Banca Monte dei Paschi di Siena SpA gained 1% to €0.175 but the Italian bank traded volatile after the investors postponed the rights offering of €3 billion after a meeting on Saturday.

EADS NV slipped 1.2% to €55.62 and the Chinese carrier Zhejiang Loong Airlines confirmed that it agreed to acquire 20 Airbus A320 passenger planes from the European aerospace and defense company.

Outotec Oyj climbed 3.6% to €7.65 after the Finland-based mining machinery provider signed a contract with Norilsk Nickel for minerals processing technology and equipment in Russia for approx €80 million.

On December 27, Outotec secured order to deliver technology and services worth above €100 million to Cengiz Group for operations in Turkey.

Sanofi SA slid 0.9% to €75.82 after the France-based diversified healthcare company failed to win U.S. regulatory approval for its multiple sclerosis drug Lemtrada.

Vedanta Resources Plc jumped 3.6% to 933.65 pence after the diversified metals and mining company’s India-based subsidiary Sesa Sterlite Ltd. won approval to restart its iron-ore mines in Karnataka, India, after receiving permission from the Supreme Court.