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Market Update

Bouygues Net Surges; Hunting, Playtec, Xaar Net Plunge


Author: Nigel Thomas
ticker.com
Last Update: 10:35 AM ET August 28 2014

4:00 PM Frankfurt – Bouygues net more than doubled to €410 million. CSR surged 37% and the company rejected an offer from the U.S.-based Microchip Technology. Hunting Plc, an oil explorer said profit declined 6% but revenue jumped 5%. Playtec net tumbled 82%. Xaar profit plummeted 33%.

In London trading, FTSE 100 index fell 0.4% or 25.36 to 6,805.30 and in Frankfurt the DAX index declined 1.4% or 133.46 to 9,436.25.

In Paris, CAC 40 index dropped 0.6% or 27.84 to 4,367.42.

Bouygues SA slid 0.5% to €28.33 after the France-based communications, media and construction company reported sales in the first-half ending in June rose 0.6% to €15.2 million from €15.1 million a year ago period.

Net profit in the period surged 118% from a year ago to €410 million compared to €188 million and diluted earnings per share climbed to €1.26 from€0.59.

CSR Plc surged 37.3% to 789.50 pence after the U.K.-based silicon chips maker confirmed an approach from the U.S.-based Microchip Technology Inc for a possible takeover.

Hunting Plc gained 2.5% to 916.50 pence after the U.K.-based oil and gas explorer stated revenue in the first-half ending in June jumped 4.8% to $687.5 million from $655.7 million a year ago period.

Profit in the period declined 6.3% to $53.4 million compared to $57 million and diluted earnings per share slipped to 34.7 cents from 36.8 cents.

Playtec Plc climbed 7.1% to 710 pence after the U.K.-based online gaming software supplier reported total revenue in the first-half ending in June soared 21.2% to €214.4 million from €176.8 million a year ago period.

Net profit in the period tumbled 81.7% from a year ago to €75.6 million compared to €413.8 million and diluted earnings per share jumped to 25.9 pence from 33.1 pence.

Xaar Plc plunged 23.2% to 430 pence after the U.K.-based industrial inkjet print-heads supplier said revenue in the first-half ending in June declined to £60.4 million from £70.2 million a year ago period.

Profit in the period plummeted 33.1% from a year ago to £12.5 million compared to £18.7 million and diluted earnings per share declined to 16.2 pence from 24.6 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