S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Aviva Jumps on 1 B Buy Back Plan, Pearson to Sell Spanish Unit

Author: Sarla Buch
Last Update: 10:28 AM EST November 27 2017

4:00 PM Frankfurt Aviva plans to launch share buyback of up to 1 billion. GK Software profit surged on 24% jump in revenues. JOST Werke lifted fiscal 2017 outlook. Pearson agreed to sell its Spain-based subsidiary Wall Street English for about 225 million.

In London trading, FTSE 100 index edged up 1.06 to 7,409.98 and in Frankfurt the DAX index decreased 35.04 or 0.3% to 13,025.79.

In Paris, CAC 40 index slipped 15.11 or 0.3% to 5,375.65.

Aviva Plc increased 1.4% to 506.50 pence after Sunday Times reported that the U.K.-based insurer plans to launch share buyback of up to 1 billion as an investor before the end of this week.

GK Software AG slid 0.2% to 114.50 after Germany-based information technology provider stated sales in the nine-month period ending in September jumped 24.2% from a year ago to 65.9 million.

Net income in the period surged to 2.3 million from 0.3 million in a year ago period and diluted earnings per share jumped to 1.15 from 0.14.

JOST Werke AG gained 1.3% to 44 after Germany-based truck and commercial vehicle maker said sales in the nine-month period ending in September soared 10% from a year ago to 533.3 million.

Net loss in the period widened to 75.6 million from 7.9 million in a year ago period.

Sales in Europe increased 2%, in North America jumped 6% and in Asia, Pacific and Africa surged 47.1%.

Operating profit in the period advanced 36.4% to 41.2 million from 30.2 million in the same period a year ago.

JOST lifted fiscal 2017 sales forecast to grow in high single-digit rate from the earlier estimate of mid-single-digit rate and operating profit to grow at double-digit rate from the previous estimate of single-digit growth rate.

Pearson Plc slipped 1.7% to 695.81 pence after the U.K.-based educational books publisher agreed to sell its Spain-based language teaching unit Wall Street English to Baring Private Equity Asia and CITIC Capital for about 225 million or $300 million.

The transaction is expected to close in the first-half of 2018.

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