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Market Update

EasyJet September Traffic Jumps, Siemens Sell 17% Stake in Osram Licht

Author: Sarla Buch
Last Update: 10:10 AM EDT October 05 2017

4:00 PM Frankfurt Accor agreed to acquire 50% stake in the Orient Express. DFS Furniture net plummeted. Deutz acquired Italy-based dealer IML Motori. EasyJet passenger traffic in September jumped 11%. Siemens completed the sale of 17% stake in Osram Licht for 1.2 billion.

In London trading, FTSE 100 index increased 28.10 or 0.4% to 7,495.35 and in Frankfurt the DAX index decreased 17.94 to 12,952.42.

In Paris, CAC 40 index edged up 2.47 to 5,365.69.

Accor SA gained 0.6% to 42.24 after France-based hotels operator agreed to acquire 50% stake in the Orient Express the brand of luxury travel services provider owned by the passenger and freight transport operator SNCF Group.

DFS Furniture Plc declined 4.1% to 215.86 pence after the U.K.-based furniture and upholstery retailer reported revenues in the year ending on July 29 increased 0.9% from a year ago to 762.7 million.

Net profit in the year plummeted 34.5% to 39.5 million from 60.3 million in a year ago period and diluted earnings per share dropped to 18.6 pence from 28.1 pence.

Pretax profit in the year plunged 22.3% to 50.1 million and operating profit slumped 12.7% to 82.4 million while gross sales rose 1.1% to 990.8 million from a year ago.

Deutz AG edged up 0.1% to 6.81 after Germany-based diesel engines maker acquired its long-standing Italy-based dealer IML Motori, including subsidiary IML Service and the Romanian sales and service company IML Motoare as part of the acquisition.

EasyJet Plc slipped 0.6% to 1,270 pence after the U.K.-based low-cost airline operator said passenger traffic in September jumped 11% to 7.7 million and load factor increased 2.5 percentage points from a year ago month to 93.6%.

Merlin Entertainments Plc jumped 2.8% to 460.80 pence after the U.K.-based theme park operator is in preliminary talk with the U.S.-based troubled marine park operator SeaWorld Entertainment Inc for a possible acquisition.

Siemens AG dropped 1.6% to 119.10 after Germany-based industrial conglomerate completed the sale of 18.155 million shares or stake of 17% in Osram Licht AG and raise gross proceeds of about 1.2 billion.

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