3:20 PM Frankfurt – Aveva estimated higher sales in the current fiscal year. Ferrexpo said first-half pellet production climbed 11.4%. LVMH Moet agreed to buy 80% stake in Italian cashmere maker Loro Piana for €2 billion. Marks and Spencer reported first quarter sales increased 3.3%.
In London trading, FTSE 100 index gained 0.9% or 60.95 to 6,511 and in Frankfurt the DAX index jumped 1.3% or 99.58 to 8,068.
In Paris, CAC 40 index rose 0.6% or 24.36 to 3,848.
Aveva Group Plc
soared 11.9% to 2,536 pence after the UK based engineering software developer expects good start to the financial year in both Engineering & Design Systems and Enterprise Solutions divisions.
The company reported £204 million in cash with no debt at the end of June.
climbed 4.2% to 274.38 pence after the UK based construction company won two contracts by Network Rail - Crossrail west inner track improvements and Crossrail old oak common and Paddington approaches and Intercity Express Program - which together are worth £122 million.
surged 13.6% to 157.57 pence after the UK based iron ore pellets maker reported group pellet production from its mined ore in the first-half climbed 11.4% from a year ago and total pellet production in the second quarter jumped to 5.2 million metric tons from 4.7 million tons a year earlier.
Group pellet production in the second quarter increased 4.6% from the first quarter of 2013.
LVMH Moet Hennessy Louis Vuitton SA
rose 1.6% to €130.80 after France based luxury goods maker agreed to buy 80% stake in Italian cashmere maker Loro Piana SpA in a deal valued about €2 billion. Loro Piana was valued at 22 times earnings before interest and depreciation.
The family will retain a 20% stake in the business. Loro Piana expected to achieve full year sales of €700 million with EBITDA representing more than 20% of sales.
Marks and Spencer Group Plc
slipped 1.4% to 453.30 pence after the UK based apparel retailer said group sales in the first quarter jumped 3.3% and total UK sales rose 2.7% and comparable UK sales grew 0.3%. Food sales jumped 4.5% and comparable UK food sales increased 1.8%.
The retailer added international sales in the quarter climbed 8.7% and M&S.com sales surged 29.9%.
gained 1.2% to €78.91 after the Germany based integrated technology subsidiary Osram Licht AG started trading from yesterday at a price of €24. Siemens issued 104.69 million shares of Osram to its shareholders at the time of spin-off.