Casino, Rheinmetall, Telecom Italia: European Equity Preview

By Rita Nazareth

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 1.2 percent to 201.70. The Dow Jones Stoxx 50 Index declined 1.1 percent to 2,055.57. The Euro Stoxx 50 Index, a benchmark for the nations using the euro, retreated 1.4 percent to 2,343.88.

Casino Guichard-Perrachon SA (CO FP): A French tribunal threw out a lawsuit brought by the Baud family against the biggest supermarket owner in Paris over its purchase of stakes in the Franprix and Leader Price store chains. Casino acted “in a legitimate manner” when it removed Baud family members from management positions at the two companies, the tribunal said. The shares lost 49 cents, or 1 percent, to 46.51 euros.

Parmalat SpA (PLT IM): The dairy company that became insolvent in 2003 reached a settlement with Banca Popolare dell’Etruria e del Lazio Scrl (PEL IM). Popolare Etruria will pay Parmalat 4.2 million euros to settle the case. Parmalat retreated 2.8 cents, or 1.6 percent, to 1.70 euros. Popolare Etruria retreated 14 cents, or 3 percent, to 4.48 euros.

Rheinmetall AG (RHM GY): The maker of weapons for the U.S. Army’s Abrams tank will sell shares representing about 10 percent of current stock to finance debt reduction and its defense division’s expansion. Rheinmetall also expects other countries to buy its Puma tank after winning an order from the German army, the Handelsblatt newspaper reported. The shares fell 1.30 euros, or 4.1 percent, to 30.31 euros.

Telecom Italia SpA (TIT IM): Italy’s largest phone company said it hired Credit Suisse Group AG to analyze options including the sale of Telecom Argentina SA after tighter regulations harmed its ability to control the unit. The shares retreated 1.25 cents, or 1.3 percent, to 99.05 cents.

Vinci SA (DG FP): The world’s biggest construction company won a contract worth more than 100 million euros from France’s Defense Ministry to build a new campus for the Polytechnique school. The shares dropped 36 cents, or 1.1 percent, to 31.10 euros.

To contact the reporters on this story: Rita Nazareth in New York at rnazareth@bloomberg.net.