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

Balfour Beatty Rejected Carillion Bid, Bilfinger Net Drops 19%


Author: Nigel Thomas
ticker.com
Last Update: 10:56 AM ET August 11 2014

4:00 PM Frankfurt – Balfour Beatty net narrowed to £27 million and rejected a revised merger proposal from Carillion. Banco Popolare Societa net swung to profit €25 million. BMW said July Sales jumped 3.6% and worldwide sales soared 8%. Bilfinger profit plunged 19% to €55 million.

In London trading, FTSE 100 index increased 1% or 66.42 to 6,633.78 and in Frankfurt the DAX index climbed 1.9% or 167.51 to 9,176.83.

In Paris, CAC 40 index jumped 1.2% or 48.70 to 4,196.51.

Balfour Beatty Plc jumped 2.9% to 244.17 pence after the U.K.-based infrastructure developer reported revenue in the first-half ending on June 27dropped 2% to £4.85 billion from £4.96 billion a year ago period.

Net loss in the quarter narrowed from a year ago to £27 million compared to £59 million and diluted loss per share dropped to 3.9 pence from 8.6 pence.

The company today rejected a revised merger proposal from rival Carillion Plc and the board concluded that there are a number of significant “risks many of which cannot be mitigated.”

Banco Popolare Societa Cooperativa surged 7.9% to €10.87 after the Italy-based banking company said group sales in the second-quarter ending in June slipped 1.4% to €905.4 million from €892.6 million a year ago period.

Net in the quarter swung to a profit from a year ago to €25 million compared to a loss of €18.9 million.

Bayerische Motoren Werke AG climbed 3% to €88.96 after the vehicle maker said motorcycles and scooters sold in July jumped 3.6% to 11,661 units from 11,241 units and worldwide sales reached a new record and soared 8.5% to 82,639 units compared to 76,128 units in a year ago month.

Bilfinger SE soared 4.1% to €54.81 after the Germany-based engineering service provider said revenue in the first-half ending in June increased 1.9% to €3.65 billion from €3.58 billion a year ago period.

Net profit in the period plunged 19.1% from a year ago to €55 million compared to €68 million and earnings per share dropped to €1.25 from €1.54.

DKSH Holding AG surged 8% to 68.80 francs after the Switzerland-based market expansion services provider focused on Asia said net sales in thefirst-half ending in June declined 2.9% to 4.62 billion francs from 4.75 billion francs a year ago period.

Net profit in the period plummeted 12.6% from a year earlier to 91.7 million francs compared to 104.9 million francs and earnings per share slumped to 1.41 francs from 1.60 francs.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc