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Market Update

Berkeley, Betfair, Remy Cointreau Profit Surge; Keysight to Buy Anite


Author: Nigel Thomas
ticker.com
Last Update: 11:16 AM ET June 17 2015

4:00 PM Frankfurt Berkeley profit surged 45% on 31% increase in revenues. Betfair net jumped 69% to 86 million. Remy Cointreau profit climbed 18%. Anite agreed to be acquire by the U.S.-based Keysight Technologies for about 388 million.

In London trading, FTSE 100 index slipped 0.6% or 39.24 to 6,683.58 and in Frankfurt the DAX index fell 0.5% or 49.57 to 10,996.78.

In Paris, CAC 40 index declined 0.8% or 39.82 to 4,800.47.

Anite Plc surged 23.6% to 127.30 pence after the U.K.-based handset testing device provider agreed to be acquired by the U.S.-based electronic measurement instruments maker Keysight Technologies Inc for about 388 million or $607 million, 22.3% premium to closing price of 103 pence on June 16.

Under the terms, Anite shareholders will receive 126 pence in cash a share.

Berkeley Group Holdings Plc soared 8.6% to 3,430 pence after the U.K.-based property developer reported revenues in the year ending in April soared 30.8% to 2.12 billion from 1.62 billion in a year ago period.

Net profit in the quarter surged 44.6% from a year ago to 423.5 million compared to 292.9 million and diluted earnings per share jumped to 276.9 pence form 188.5 pence.

Betfair Group Ltd declined 3.4% to 2,428 pence after the U.K.-based online betting and gaming said revenues in the year ending in April climbed 21% to 476.5 million from 393.6 million in a year ago period.

Net profit in the quarter jumped 69.4% from a year ago to 86.4 million compared to 51 million and diluted earnings per share increased to 83.7 pence form 41.1 pence.

Remy Cointreau gained 1.1% to 64.79 after the France-based wines and spirits distributor stated sales in the year ending in March declined 6.4% to 965.1 million from 1.03 billion in a year ago period.

Net profit in the year climbed 18% from a year ago to 94.6 million compared to 80.2 million and earnings per share jumped to 1.91 from 1.27.

Old Mutual Plc slipped 1.1% to 201 pence after the U.K.-based insurance and banking company said its U.S.-based unit Old Mutual Asset Management priced an underwritten public offering of 13.3 million of its ordinary shares at a public offering price of $17.50 per share and raise $268 million.

The company granted underwriters a 30-day option to purchase up to an additional 2 million shares.

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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