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Market Update

Dunelm, Next Profit Jump; Morrison Net Tumbles


Author: Nigel Thomas
ticker.com
Last Update: 10:56 AM ET September 10 2015

4:00 PM Frankfurt Bouygues secured contract worth 257 million to build cancer hospital in London. Dunelm net jumped. Deutsche Lufthansa passenger traffic and load factor rose in August. Next, the apparel retailer said profit soared 8%. Grocery retailer Morrison said net tumbled 42%.

In London trading, FTSE 100 index slumped 73.17 or 1.2% to 6,155.66 and in Frankfurt the DAX index decreased 102.93 or 1% to 10,200.19.

In Paris, CAC 40 index declined 56.50 or 1.2% to 4,608.09.

Bouygues SA rose 0.4% to 34.77 after the France-based building construction services provider secured a contract worth about 257 million from the University College London Hospitals NHS Foundation to build a new hospital dedicated to advanced cancer treatment and surgery services in central London.

Etablissementen Fr Colruyt NV fell 1.4% to 42.62 after the Belgium-based food products retailer agreed to acquire 40% stake in domestic online underwear store MyUnderwear24.

Dunelm Group Plc slipped 1.2% to 893.96 pence after the U.K.-based home furnishing company reported revenues in the year ending on June 27 soared 12.7% from a year ago to 835.8 million from 730.2 million.

Net profit in the quarter jumped 7.8% from a year ago to 96.1 million compared to 89.1 million and diluted earnings per share increased to 47.3 pence from 43.7 pence.

Darty Plc jumped 3.1% to 77.31 pence after the U.K.-based electrical appliances retailer said revenues in the first-quarter ending in July increased 2% from a year ago period.

The company said revenues in France jumped 2.4% and in Belgium and the Netherlands increased 0.5%.

The retailer forecasted to reduce average net debt by 50 million.

Deutsche Lufthansa AG rose 0.3% to 11.73 after the Germany-based airline reported passenger traffic in August jumped 3.6% to 10.85 million and load factor increased 1.2 percentage point to 87.6% but cargo load factor declined 5.2 percentage point to 61.1% from a year ago month.

Next Plc increased 0.5% to 7,715 pence after the U.K.-based clothing, footwear, accessories and home products retailer reported revenues in the first-half ending in July jumped 2.2% from a year ago to 1.89 billion from 1.85 billion.

Net profit in the quarter soared 7.5% from a year ago to 277 million compared to 257.7 million and diluted earnings per share advanced to 183.7 pence from 168.8 pence.

The retailer reaffirmed pre-tax profit for the year between 805 million and 845 million.

WM Morrison Supermarkets Plc slumped 3.3% to 170.10 pence after the U.K.-based supermarkets operator said revenues in the first-half ending on August declined 5.1% from a year ago to 8.1 billion from 8.5 billion.

Net profit in the quarter tumbled 41.5% from a year ago to 107 million compared to 183 million and diluted earnings per share dropped to 4.57 pence from 7.81 pence.

Separately, the supermarket operator agreed to sell 140 local convenience stores for about 25 million in cash to a team led by retailer Mike Greene and Greybull Capital LLP.

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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