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Market Update

Axel Springer and ProSiebenSat.1 are in Merger Talk


Author: Nigel Thomas
ticker.com
Last Update: 11:32 AM ET July 07 2015

4:00 PM Frankfurt Axel Springer and ProSiebenSat.1 AG are in merger talks. 3i Infrastructure and AMP agreed to acquire 50% stake in the Denmark-based ESVAGT for 109 million. Air Berlin passengers traffic in June declined 7%. ASOS revenues soared 21% to 397 million.

In London trading, FTSE 100 index decreased 0.2% or 10.32 to 6,525.03 and in Frankfurt the DAX index slid 0.4% or 38.56 to 10,852.19.

In Paris, CAC 40 index fell 0.6% or 29.69 to 4,682.92.

3i Infrastructure Plc rose 0.5% to 166.99 pence after the U.K.-based investment company and Australia-based AMP Capital jointly agreed to acquire 50% stake in the Denmark-based ESVAGT for about 109 million from A.P. Moller-Maersk.

The transaction is expected to close in September.

Air Berlin Plc was halted at 1.13 after the Germany-based airline company said total passengers traffic in June declined 7% to 3,023,700, capacity declined 8.5% and revenue passenger kilometers plunged 10% to 4.360 billion from a year ago month.

Monthly available seat kilometers slumped 9.5% to 5.216 billion from June 2014 and the capacity utilization rate edged down 0.4 percentage points to 83.6%.

The total number of passengers for the year decreased 4.1% from a year ago to 14,035,619.

Axel Springer SE jumped 3.5% to 48.94 after Wall Street Journal said the Germany-based publishing company and broadcaster ProSiebenSat.1 AG are in talks to merge their businesses with a combined market capitalization of about 14.4 billion or $16 billion.

ASOS Plc slumped 3.6% to 3,714 pence after the U.K.-based online fashion retailer said total group revenues in the four-month ending in June soared 21% to 396.7 million from 329 million in a year ago period.

U.K. retail sales surged 27% to 158.4 million and international sales climbed 16% to 227.6 million from a year ago period. Sales in the U.S. jumped 43% to 44.5 million.

Eagle Eye Solutions Group Plc soared 5.8% to 210 pence after the U.K.-based information technology services provider secured a multi-year new contract with Sainsbury''s Stores Ltd for the deployment of its Eagle Eye AIR platform.

Marks and Spencer Group Plc slipped 1.1% to 541 pence after the specialty retailer said its full-year outlook remains unchanged as it reported group sales for the quarter ending on June 27 increased 1.8% and international sales increased 0.7%.

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