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Market Update

E.ON Completes Uniper Spin-off, Linde Terminates Merger Talk with Praxair

Author: Sarla Buch
Last Update: 3:07 AM ET September 12 2016

4:00 PM Frankfurt Associated British Foods said Primark annual sales are expected to increase 9%. E.ON completed the Uniper SE spin-off. Fraport passenger traffic in August fell 5%. Hannover Re forecasted profit in the year of 950 million. Linde terminated merger talks with the U.S.-based Praxair.

In London trading, FTSE 100 index declined 76.64 or 1.1% to 6,700.31 and in Frankfurt the DAX index slumped 147.61 or 1.4% to 10,425.29.

In Paris, CAC 40 index dropped 58.50 or 1.3% to 4,432.90.

Associated British Foods Plc declined 10.8% to 2,815 pence after the U.K.-based diversified international food, ingredients retailer said group''s U.K. pension scheme deficit in the year ending on September 17 of about 200 million compared to small surplus in the same period a year ago.

The group forecasted Primark annual sales to increase 9% from a year ago.

E.ON SE tumbled 14% to 7.01 after the Germany-based energy services provider today completed the Uniper SE spin-off as planned and began trading on the Frankfurt stock exchange for the first time.

Fraport Frankfurt Airport Services Worldwide AG slumped 2% to 49.96 after the Germany-based airport services provider said total passengers traffic in August declined 5% to 6 million from a year ago month.

Hannover Rueck SE fell 0.9% to 92.52 after the Germany-based reinsurance services provider forecasted net income in the year of about 950 million and gross premium volume to be stable or slightly decline in 2016.

Linde AG plunged 7.6% to 137.55 after Germany-based industrial gas maker said it has terminated preliminary merger talks with the U.S.-based Praxair Inc on possible merger that could create a company with the combined market cap of $60 billion.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc