4:00 PM Frankfurt Fashion retailer Boohoo.Com acquired 66% stake in rival Pretty Little Thing and lifted operating profit forecast. Dixons Carphone profit surged but offered cautious outlook. Heinken is considering two proposals for Punch Taverns. Inditex profit jumped 9%.
In London trading, FTSE 100 index slid 8.65 to 6,959.34 and in Frankfurt the DAX index fell 32.97 or 0.3% to 11,251.50.
In Paris, CAC 40 index slipped 28.99 or 0.6% to 4,774.97.
surged 9.7% to 129.75 pence after the U.K.-based online fashion retailer acquired 66% stake in rival fashion website Pretty Little Thing for £3.3 million on cash free, debt free basis.
Boohoo said revenues of PrettyLittleThing in the fiscal year ending in February 2016, surged 400% to £17 million from £3.1 million from a year ago period and revenues in the first-half ending in August 2016 soared £19 million from £6.4 in the same period a year ago.
The fashion retailer lifted operating profit forecast in fiscal 2017 to between 11% and 12% compared to the previous estimate of about 11%.
Dixons Carphone Plc
declined 5.2% to 347.70 pence after the U.K.-based electrical and mobile phone retailer said group revenues in the first-half ending on October 29 soared 11% from a year ago to £4.87 billion.
Comparable sales in the period advanced 4% mainly driven by a 5 percent rise in the UK & Ireland.
Profit in the period more than double from a year ago to £93 million compared to the £46 million and diluted earnings per share jumped to 8 pence from 3.9 pence.
Dixons said pre-tax profit in the period of £144 million.
We plan for the possibility of more uncertain times ahead on consumer demand as a consequence of Brexit but remain optimistic to gain market share, chief executive officer Seb James said.
edged up 0.06% to 70.91 after the Netherlands-based brewing and beer seller today confirmed that it had received proposal from Patron Capital Advisers LLP for a possible cash offer for Punch Taverns Plc for 174 pence per share.
Today, company board also confirmed that Emerald Investment Partners Limited is considering a possible cash offer for Punch at 185 pence per share and the board is in discussions with Emerald.
Punch Taverns Plc stock in London Stock Exchange surged 37.7% to 177 pence.
Industria de Diseno Textil SA, known as Inditex SA
declined 2.6% to 32.12 after Spain-based apparel retailer reported net sales in the nine-month period ending in October soared 11% from a year ago to 16.4 billion.
Net profit in the period jumped 9% from a year ago to 2.21 billion compared to the 2.02 billion and earnings per share increased to 0.71 from 0.65.
Inditex said operating profit in the period increased 9% to 2.8 billion and gross profit advanced 9% to 9.5 billion and gross margin surged 57.9%.
Micro Focus International Plc
jumped 5.2% to 2,240 pence after the U.K.-based software solution provider reported revenues in the first-half ending in October surged 14.2% from a year ago to $684.7 million.
Net income in the period rose 3.5% from a year ago to $90.6 million compared to the $87.5 million and diluted earnings per share increased to 38.12 cents from 38.58 cents.
, the France-based industrial equipment supplier today reached an agreement to acquire the U.K.-based Lavendon Group Plc for £374 million or $473.5 million.
However, in November, the Belgium-based industrial equipment supplier TVH Group NV had also bid for the company at 205 pence per share or about £348 million.
""Directors of Lavendon unanimously intend to recommend Loxam''s offer,"" president of Loxam Gerard Deprez said.
Lavendon Group Plc stock in London Stock Exchange jumped 5.2% to 232 pence.