Morgan Stanley earned €760,000 ($950,340) in a matter of minutes on Tuesday by placing a block of shares in Union Fenosa, a Spanish untility, owned by E.On, its Germany rival.

E.On confirmed in a statement that it sold its remaining 4.99% Union Fenosa stake for €217m or €14.25 per share. The shares were bought by Bayernwerk (now E.ON Energie) in 1993 and the company will book a gain of about €26m.