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Market Update

Europe Earnings: Aggreko, BP, Carrefour, Glaxo, Renault, Telecom Italia


Author: Nigel Thomas
ticker.com
Last Update: 10:35 AM ET December 16 2013

3:40 PM Frankfurt Aggreko forecasted net debt to reduce about 200 million. BP signed 30-year deal with Oman-based Khazzan for $16 billion. Carrefour will buy shopping malls for 2 billion from Klepierre. Glaxo will invest $1 billion to raise its stake in Indian Unit.

In London trading, FTSE 100 index climbed 1.3% or 82 to 6,522 and in Frankfurt the DAX index jumped 1.9% or 169.37 to 9,176.

In Paris, CAC 40 index increased 1.5% or 61.53 to 4,121.

Aggreko Plc surged 7.7% to 1,633 after the U.K.-based power and temperature control solution provider reported group revenues for the year is expected to be flat at 1.57 billion and profit-before-tax and amortization is expected at 335 million. Net debt is expected to reduce by about 200 million from a year earlier.

The company was also selected as the supplier of temporary power for 2014 FIFA World Cup and the Glasgow 2014 Commonwealth Games.

BP Plc rose 1.5% to 472.45 pence after the oil and gas explorer signed 30-year gas production and sales sharing deals to develop Oman-based Khazzan gas project at an investment of about $16 billion.

Carrefour SA increased 1.4% to 27.55 after the France-based hypermarket operator said it will buy a portfolio of European shopping malls for 2 billion or $2.76 billion from Klepierre SA, France-based real estate developer.

Deutsche Telekom AG climbed 4.6% to 11.88 after the report Sprint Corp. could bid for its U.S.-based T-Mobile unit.

Separately, the Germany-based mobile company received 200 million loan from the European Investment Bank to finance broadband investment.

GlaxoSmithKline Plc gained 1.1% to 1,588.50 pence after the healthcare group plans to invest $1 billion to raise its stake from 50.7% to up to 75% in its Indian pharmaceutical unit.

Gottex Fund Management Holdings Limited soared 8% to 2.43 francs after the Switzerland-based investment company agreed to acquire EIM Group to grow its asset base to $10 billion by first-half 2014.

Renault SA rose 0.02% to 57.05 and France-based carmaker signed an equal ownership agreement with China-based Dongfeng Motor Group Co in Wuhan to build sport utility vehicles and invest $1.3 billion.

Telecom Italia SpA climbed 5.4% to 0.698 and the company confirmed it had not received any information from the U.S.-based BlackRock related to its increase in stake to 10.14% as shown by the U.S. regulatory filings.

Italian regulator Consob may fine BlackRock Inc. for not informing the company about the stake increase.

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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