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Market Update

BBVA in €4 B Real Estate Deal with Cerberus, Brewin Dolphin Lifts Dividend


Author: Sarla Buch
ticker.com
Last Update: 10:24 AM EST November 29 2017

4:00 PM Frankfurt – Britivic soared on less-than-expected decline in profit. Brewin Dolphin lifted dividend after profit surged. BBVA agreed to sell 80% of its real-estate business for €4 billion. Nomad Foods lifted fiscal 2017 profit forecast. RPC Group profit surged after seven acquisitions.

In London trading, FTSE 100 index dropped 34.46 or 0.5% to 7,426 and in Frankfurt the DAX index advanced 121.66 or 0.9% to 13,180.77.

In Paris, CAC 40 index jumped 43.04 or 0.8% to 5,433.88.

Air France KLM SA gained 2.1% to €11.73 after France-based airline services provider today signed an agreement with India-based Jet Airways for ‘Enhanced Cooperation Agreement’ to build traffic between Europe and India.

Britvic Plc soared 6.5% to 807.50 pence after the U.K.-based soft drinks maker reported revenues in the year ending on October 1 jumped 7.7% from a year ago to £1.5 billion.

Net income in the year fell 2.5% to £111.6 million from £114.5 million in a year ago and diluted earnings per share slid to 42.2 pence from 43.5 pence.

The soft drinks maker said profit was mainly impacted by planned costs related to business capability program.

Brewin Dolphin Holdings Plc jumped 2.2% to 351.80 pence after the U.K.-based investment services provider stated revenues in the year ending in September soared 7.8% from a year ago to £304.5 million.

Net income in the year surged 15.6% to £45.1 million from £39 million in a year ago period and diluted earnings per share increased to 16 pence from 13.9 pence.

Banco Bilbao Vizcaya Argentaria S.A increased 1.7% to €7.26 after Spain-based diversified financial services provider said that it sold 80% of its Spain real-estate business to a subsidiary of Cerberus Capital Management LP for about €4 billion or $4.74 billion.

The transaction is expected to close by the second-half of 2018.

Nomad Foods Limited (NOMD), the British Virgin Islands-based packaged foods provider said revenues in the third-quarter ending in September advanced 4.4% from a year ago to €459 million.

Net income in the quarter declined 53.7% to €41.9 million or 24 cents per diluted share from €3.6 million or 2 cents in the same quarter last year.

The packaged foods provider lifted fiscal 2017 operating profit forecast to between €325 million and €327 million from the earlier estimate of €320 million to €325 million.

RPC Group Plc declined 5.9% to 907.50 pence after the U.K.-based plastic packaging products maker reported revenues in the first-half ending in September surged 53% from a year ago to £1.9 billion.

Net profit in the period jumped 139% to £122.1 million from £51 million in a year ago period and diluted earnings per share advanced to 29.3 pence from 15.1 pence.

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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