Fondiaria, Societe Generale, Trinity: European Equity Preview

January 05, 2012, 12:33 AM EST

By Ksenia Galouchko

Jan. 5 (Bloomberg) — The following companies’ shares may have unusual moves in European trading. Stock symbols are in parentheses.

The Stoxx Europe 600 Index fell 0.6 percent to 249.62. The Stoxx 50 Index declined 0.4 percent to 2,418.41. The Euro Stoxx 50 Index, a benchmark measure for nations using the euro, retreated 1.7 percent to 2,349.89.

Fondiaria-Sai SpA (FSA IM): Italy’s second-biggest insurer said it’s had no “contacts or displays of interest” with regard to a possible merger. Il Sole 24 Ore reported Dec. 31 that Fondiaria may merge with Unipol Gruppo Finanziario SpA, without saying where it obtained the information. Fondiaria rose 7.8 percent to 79 euro cents.

Societe Generale SA (GLE FP): France’s second-largest lender plans to cut about 1,580 jobs at its corporate and investment bank, about 10 percent of the unit’s total, as the sovereign debt crisis crimps revenue. The shares fell 3.4 percent to 17 euros.

Trinity Mirror Plc (TNI LN): The publisher of the U.K.’s Daily Mirror newspaper bought Communicator Corp. for 8 million pounds ($12.49 million) from its shareholders, including Managing Director Chris Wilds, who will remain at the company. The shares were unchanged at 48.75 pence.

–Editor: Jeff Sutherland

To contact the reporter on this story: Ksenia Galouchko in New York at kgalouchko1@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net

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