TNK-BP, B&B, Deutsche Bank, Heineken: European Equity Preview

By Nadja Brandt

July 7 (Bloomberg) -- The following companies may have unusual price changes in European trading. Stock symbols are in parentheses, and share prices are from the previous close.

The Dow Jones Stoxx 600 fell 1.3 percent to 279.53.. The Dow Jones Stoxx 50 Index dropped 1.3 percent to 2,837.58. The Euro Stoxx 50 Index, a benchmark for the nations using the euro, declined 1.7 percent to 3,275.20.

Air Berlin Plc (AB1 GY): Europe's third-biggest low-cost carrier plans to release monthly passenger numbers. The shares increased 26 cents, or 6.3 percent, to 4.41 euros.

Alstom SA (ALO FP): The world's largest train maker is seeking acquisitions in Russia as the country's rail monopoly pursues its biggest modernization since the Soviet era. The stock fell 4.01 euros, or 2.63 percent, to 148.33.

Bradford & Bingley Plc (BB/ LN): Resolution Ltd.'s Clive Cowdery turned down approaches from four of Bradford & Bingley Plc's investors to return to the mortgage lender once its rights offer is underwritten, the Independent on Sunday reported. Bradford & Bingley fell 11 pence, or 18 percent, to 50 pence.

British Airways Plc (BAY LN): Europe's third-biggest carrier will likely announce a trans-Atlantic alliance with American Airlines and Spain's Iberia Lineas Aereas de Espana SA at its annual general meeting on July 15, the Observer reported, citing no-one. British Airways lost 12 pence, or 5.7 percent, to 197 pence.

Commerzbank AG (CBK GY): Germany's second-largest bank plans to cut jobs and abolish the brand name of Allianz SE's Dresdner Bank unit in a possible combination, Euro am Sonntag reported, citing an unidentified executive. The shares fell 85 cents, or 4.3 percent, to 18.74 euros.

Deutsche Bank AG (DBK GY): Josef Ackermann, chief executive officer of Germany's largest bank, said he doesn't want to speculate on full-year earnings, according to an interview with Die Welt. The Frankfurt-based company expects a profit in the current quarter, he said, reiterating a statement the bank made July 2. The shares dropped 1.58 euros, or 2.8 percent, to 54.23 euros.

Fastweb SpA (FWB IM): Italy's second-biggest fixed-line phone company will increase profit by almost 30 percent this year as sales rise 14 percent, Italian newspaper Il Sole 24 Ore said, citing company executives.

Earnings before interest, taxes, depreciation and amortization are expected to rise to 530 million euros ($832 million) from 410 million euros, Sole said. Sales are expected to rise to 1.64 billion euros.

The shares fell 22 percent or 1.07 percent to 20.37 euros.

Heineken NV (HEIA NA): The largest Dutch brewer will restate the accounts of newly acquired Scottish & Newcastle Plc to adopt a more conservative accounting policy, spokeswoman Veronique Schyns said by telephone. Heineken fell 66 cents, or 2 percent, to 31.91 euros.

Merck KGaA (MRK GY): The maker of the Erbitux cancer medicine is ``intensively'' thinking about possible purchases for its pharmaceuticals and chemicals divisions, Chief Executive Officer Karl-Ludwig Kley told Germany's Handelsblatt newspaper. The shares fell 1.56 euros, or 1.9 percent, to 80.63 euros.

Renault SA (RNO FP): Chief Executive Officer Carlos Ghosn said he expects mergers among automakers because car companies' stocks are ``undervalued.'' The stock fell 15 cents, or 0.29 percent, to 52.23 euros.

RWE AG (RWE GY): Germany's second-largest utility plans to double cost cuts in the next four years to shore up earnings hurt by rising commodity costs. RWE aims to cut costs by 1.2 billion euros ($1.9 billion) through 2012, instead of a previously announced 600 million, spokeswoman Annett Urbaczka said. The shares fell 1.28 euros, or 1.6 percent, to 79.71 euros.

SAS Group (SAS SS): The owner of Scandinavian Airlines is scheduled to release June traffic figures. The shares added 2 percent to 30.9 kronor.

TNK BP Holding (TNBP RU): The company will hold an extraordinary meeting of the board of directors to discuss dismissing Chief Executive Officer Robert Dudley as head of one of its subsidiaries.

AAR, the Russian partner in the TNK-BP oil venture in which BP Plc holds 50 percent, said it is being sued for 8.5 billion rubles ($362 million) by BP. TNK-BP rose 0.2 percent to $2.21.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net