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Market Update

CRH in 6.5 B Deal with Holcim and Lafarge, Ryanair Net Swings to Profit


Author: Nigel Thomas
ticker.com
Last Update: 11:31 AM ET February 02 2015

4:00 PM Frankfurt CRH agreed to acquire assets from cement maker Holcim and Lafarge worth about 6.5 billion. Gurit net sales surged 19%. Julius Baer profit soared 22% to 586 million francs. Ryanair net swung to profit to 49 million.

In London trading, FTSE 100 index slid 0.1% or 7.58 to 6,741.82 and in Frankfurt the DAX index rose 0.1% or 17.93 to 10,712.25.

In Paris, CAC 40 index fell 0.1% or 6.62 to 4,597.63.

CRH Plc soared 5.6% to 1,692 pence after the Ireland-based building material provider agreed to acquire assets from cement maker Holcim Ltd. and Lafarge SA worth about 6.5 billion or $7.34 billion.

Gurit Holding AG gained 1.6% to 335.25 Swiss francs after the Switzerland-based gel coats, adhesives and resin maker said net sales in the year ending in November surged 19.4% to 335.8 million francs from 281.1 million francs a year ago period.

The company forecasted operating profit for the year may between 4% and 4.5%.

Julius Baer Gruppe AG surged 8.9% to 40.96 Swiss francs after the Switzerland-based financial service provider reported revenues in the year ending in December soared 16% to 2.55 billion francs compared to 2.20 billion francs in the same period last year.

Net profit in the year soared 22% to 586 million francs or compared to 480 million francs and earnings per share jumped to 2.68 francs per share from 2.24 francs.

Ryanair Holdings plc plunged 3.8% to 10.1 pence after the Ireland-based airline company reported revenues in the third-quarter ending in December climbed 17% to 1.1 billion from 964 million a year ago period.

Net in the quarter swung to profit from a year ago to 49 million compared to a loss of 35 million and diluted earnings per share swung to 3.53 pence from a loss of 2.50 pence per share.

The airline lifted net profit forecast for the year for the fifth time in the range of 840 million to 850 million.

RM Plc rose 0.2% to 156.25 pence after the U.K.-based educational service provider said total revenues in the year ending in November plunged 22.6% to 202.5 million from 261.8 million a year ago period

Net profit in the year climbed 88% from a year ago to 11.6 million compared to 6.2 million and diluted earnings per share climbed to 13 pence from 6.6 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