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Market Update

Euro Disney Tumbles on 1 B Recap Plan


Author: Nigel Thomas
ticker.com
Last Update: 10:40 AM ET October 06 2014

4:00 PM Frankfurt BG Group received $350 million payment from Egyptian government. Euro Disney agreed to 1 billion recapitalization plan, proposed by parent Walt Disney. ICA Gruppen divested its Norway unit for 2.8 billion kronor.

In London trading, FTSE 100 index jumped 0.7% or 45.95 to 6,573.86 and in Frankfurt the DAX index climbed 0.9% or 81.34 to 9,277.02.

In Paris, CAC 40 index increased 0.6% or 24.59 to 4,306.33.

BG Group Plc climbed 3.6% to 1,104.50 pence after the U.K.-based oil and gas producer received a payment of $350 million from the Egyptian government.

Euro Disney SCA declined 10.1% to 3.11 after the France-based amusement park operator agreed to 1 billion or $1.25 billion recapitalization plan, offered by the Walt Disney Co.

ICA Gruppen AB surged 7.5% to 245.20 kronor after the Sweden-based food retailer divested its ICA Norway unit to Coop Norway for 2.8 billion kronor on a debt free basis.

The retailer also completed the sale of Forma Publishing Group to the Danish media group Egmont. The final purchase price is expected to be released in the first week of November.

Norwegian Air Shuttle ASA plunged 6.9% to 209.90 kronor after the Norway-based discount airline said passengers in September climbed 16% to 2.23 million compared to the same month a year ago. The load factor was 81.4%, an increase of 3.1% from a year ago month.

The airliner added total passenger traffic surged 43%, while capacity jumped by 37% from a year earlier.

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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