4:00 PM Frankfurt – Ashtead Group net surged 15%. Barratt Develop profit jumped 23% after average selling price soared 10%. Petroleo Brasileiro agreed to sell 90% of its natural gas pipeline unit to Brookfield Asset Management for $5.2 billion. Sports Direct plunged after weak forecast.
European markets advanced after commodities continued to extend yearly gains in the region.
In London trading, FTSE 100 index rose 11.95 or 0.2% to 6,837.60 and in Frankfurt the DAX index increased 75.77 or 0.7% to 10,762.74.
In Paris, CAC 40 index gained 26.97 or 0.6% to 4,557.30.
Ashtead Group Plc
jumped 4.3% to 1,312 pence after the U.K.-based industrial equipment provider reported revenues in the first-quarter ending in July advanced 4% from a year ago to £707.1 million.
Net profit in the quarter surged 15.1% from a year ago to £117.2 million compared to the £101.8 million and diluted earnings per share increased to 23.3 pence from 20.2 pence.
Barratt Developments Plc
slipped 1.1% to 501.50 pence after the U.K.-based home builder reported revenues in the year ending in June soared 12.7% from a year ago to £4.2 billion.
Net profit in the quarter jumped 22.5% from a year ago to £550.3 million compared to the £449.4 million and diluted earnings per share gained to 54.3 pence from 44.6 pence.
Barratt reported a record pre-tax profit surged 20.7% to £682.3 million after the average selling price increased 10.4% to £289,800 from a year ago period.
Petroleo Brasileiro SA Petrobras
, after Reuters said Brazil-based energy explorer agreed to sell 90% of its natural gas pipeline subsidiary to a consortium led by Canada-based Brookfield Asset Management Inc for about $5.2 billion.
gained 0.4% to €106.10 after the France-based on-site services provider agreed to acquire the U.S.-based privately held Inspirus for undisclosed financial terms.
Sports Direct International Plc
tumbled 9.6% to 316 pence after the U.K.-based sporting goods retailer lowered fiscal 2017 profit forecast to about £300 million compared to £381.4 million in fiscal 2016.
Separately, Chairman Keith Hellawell offered to step down.