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Market Update

BMW Net Climbs; ITV in 1.1 B Deal with Talpa Media


Author: Nigel Thomas
ticker.com
Last Update: 11:54 AM ET March 12 2015

4:00 PM Frankfurt BMW profit jumped 9% to 5.8 billion. Home Retail Group sales dropped 4% to 505 million. ITV agreed to acquire Netherlands-based Talpa Media for 1.1 billion. Lufthansa net tumbled 82% to 55 million. Serco net swung to a loss to 1.4 billion. TSB received preliminary offer Sabadell for $2.6 billion.

In London trading, FTSE 100 index gained 0.8% or 53.89 to 6,775.40 and in Frankfurt the DAX index slid 0.03% or 3.91 to 11,802.08.

In Paris, CAC 40 index fell 0.09% or 4.58 to 4,993.17.

Bayerische Motoren Werke AG slipped 1.5% to 117.60 after the Germany-based automobile maker reported group revenues in the year ending in December climbed 5.7% to 80.40 billion from 76.06 billion a year ago period.

Net profit in the year soared 9.2% from a year ago to 5.82 billion compared to 5.33 billion and diluted earnings per share increased to 8.83 from 8.08.

Home Retail Group Plc plunged 10.7% to 174.50 pence after the U.K.-based home furnishing retailer reported agro sales in the eight-week trading period in the year ending on February 28 dropped 4% to 505 million and sales from the home-base segment declined 4.7% to 193 million.

The company forecasted pre-tax profit for the year ending in February between 120 million and 132 million.

ITV Plc gained 1.5% to 250.70 pence after the U.K.-based broadcasting company agreed to acquire Netherlands-based Talpa Media B.V., the entertainment show producer for about 1.1 billion or 781 million.

The transaction is expected to close during the second quarter of this year.

Deutsche Lufthansa AG declined 2.6% to 13.09 after the Germany-based airline company reported total group revenues in the year ending in December slid 0.1% to 30.01 billion from 30.03 billion a year ago period.

Net profit in the year tumbled 82.4% from a year ago to 55 million compared to 313 million and diluted earnings per share increased to 0.12 from 0.68.

Serco Group Plc plummeted 12.8% to 180 pence after the U.K.-based business support service provider said revenues in the year ending in December plunged 7.5% to 3.96 billion from 4.28 billion a year ago period.

Net in the year swung to a loss from a year ago to 1.35 billion compared to profit of 98.4 million and diluted loss per share swung to a 258.4 pence from diluted earnings per share of 20.1 pence.

TSB Banking Group Plc surged 26.1% to 333.06 pence after the retail bank received preliminary offer from the Spain-based lender Banco de Sabadell for $2.6 billion or 340 pence in cash per share.

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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