By Jeff Kearns
March 12 (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 climbed 0.2 percent to 166.24. The Dow Jones Stoxx 50 Index increased 0.1 point to 1,702.60. The Euro Stoxx 50 Index, a benchmark for the nations using the euro, added 0.7 percent to 1,932.79.
Banco Popular SA (POP SM): Spain’s third-largest bank has rejected merger proposals in “recent times” as it strived to remain independent, Chairman Angel Ron said in a letter to branch managers. The Madrid-based lender had 73.5 million euros ($92.6 million) in profit in January, excluding one-time gains, Ron said in the letter. Popular shares rose 7 cents, or 1.9 percent, to 3.75 euros.
Enel SpA (ENEL IM): Italy’s biggest utility is scheduled to report 2008 earnings and present its strategy. Morgan Stanley analysts say the company may reduce its dividend, raise cash through a share sale, and eventually sell assets. The company is likely to post a 33 percent increase in 2008 net income to 5.3 billion euros, according to the median estimate of analysts surveyed by Bloomberg. Enel fell 3 percent to 3.37 euros.
GEA Group AG (G1A GY): The engineer whose machines milk about one third of the world’s cows may report fourth-quarter net income of 28.5 million euros, the average of four analyst estimates compiled by Bloomberg. The stock fell 3.5 percent to 7.44 euros.
Nordea Bank AB (NDA SS): The Nordic region’s largest bank is holding an extraordinary general shareholders meeting. The stock climbed 9.6 percent to 52.7 kronor.
Telefonica SA (TEF SM): Spain’s largest telephone operator may be active as rival Grupo Corporativo Ono SA presents 2008 results. Telefonica shares rose 5 cents, or 0.4 percent, to 14.25 euros.
To contact the reporters on this story: Jeff Kearns in New York at jkearns3@bloomberg.net
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