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Market Update

Air France June Traffic Jumps, TOTAL Acquires Stake in Direct Energie

Author: Sarla Buch
Last Update: 11:31 AM EDT July 09 2018

4:00 PM Frankfurt Air France KLM reported higher passenger traffic growth in June. Elior Group increased its stake in its North America unit. Total SA acquired 73% stake in Direct Energie for 1.4 billion. TGS-Nopec reported better-than-expected outlook.

In London trading, FTSE 100 index increased 72.22 or 0.9% to 7,690.17 and in Frankfurt the DAX index gained 50.22 or 0.4% to 12,546.92.

In Paris, CAC 40 index rose 21.99 or 0.4% to 5,397.63.

Air France KLM SA surged 6.7% to 7.37 after France-based airline operator said total passenger traffic in June jumped 3.7% to 9.3 million after available seat per kilometers increased 2.6% and load factor rose to 89.3% from 87.7% in the same month a year ago.

Elior Group SA increased 1.6% to 12.63 after France-based catering and foodservice provider offered to acquire a minority stake of about $115 million in the Elior North America.

After the transaction, stake of Elior Group in Elior North America will increase to 92% from 74% and non-executive chairman and founder of Elior North America, Mike Bailey and Brian Poplin, will remain as president and chief executive officer to drive growth in the U.S. up to 2022.

Total SA gained 1% to 53.86 after France-based oil and gas producer said it had completed the acquisition of 73.04% stake in Direct Energie SA an electricity and gas supplier with substantial renewable assets for 42 or $49.1 or about 1.4 billion or $1.6 billion.

Separately, Total plans to sell its stake in Laggan Tormore gas field and other oil and gas assets in Britain''s North Sea worth about $1.5 billion.

TGS-NOPEC Geophysical Company soared 6% to $38.84 after Norway-focused geophysical consulting and contracting services provider forecasted net revenues in the second-quarter to grow 47% to $158 million.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc