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Market Update

Europe Earnings: Aviva, easyJet, FirstGroup, Intertek, Ted Baker


Author: Nigel Thomas
ticker.com
Last Update: 11:00 AM ET October 03 2013

4:00 PM Frankfurt Aviva sold its U.S. unit for 1.7 billion. easyJet lifted its fiscal outlook. FirstGroup plans to extend the U.K. rail contract up to 2015 and will pay 32.5 million. GlaxoSmithKline reached agreement to sell its thrombosis brands. Intertek to acquire Global X-Ray & Testing valued 45 million in cash.

In London trading, FTSE 100 index gained 0.3% or 21.58 to 6,459 and in Frankfurt the DAX index slid 0.2% or 16.27 to 8,613.

In Paris, CAC 40 index slipped 0.6% or 23.56 to 4,135.

Aviva Plc gained 1.6% to 413.90 pence after the UK based insurance company completed the sale of its US life and annuities business Aviva USA Corporation to Athene Holding Ltd. for 1.7 billion or $2.6 billion. The agreed final price is higher by $800 million announced in December.

easyJet Plc slid 0.7% to 1,304 pence after the UK based budget airline expects revenue in the first-half ending in September to grow nearly 6%.and raised its full-year pre-tax profit forecast between 470 million and 480 million compared to previous guidance of 450 million to 480 million.

FirstGroup Plc jumped 2.2% to 123.40 pence after the UK based transportation company said it plans to keep its Great Western Main Line franchise and agree to pay 32.5 million for additional two years and projected like-for-like passenger revenue to increase 1.6%.

In the first-half FirstGroup said comparable passenger revenue at its U.K. rail division is expected to jump 5.7% but in U.S. revenue from Greyhound buses are expected to drop 2.4%.

For the period, U.K. rail business accomplished solid performance with comparable passenger revenue likely to grow by 5.7%.

GlaxoSmithKline Plc increased 1.6% to 1,571 pence after the UK based healthcare group reached agreement to sell its thrombosis brands and Notre-Dame de Bondeville manufacturing site in France to The Aspen Group for $1.14 billion.

Intertek Group Plc slipped 1.9% to 3,204 pence after the U.K. based analytical product tester provider agreed to acquire Louisiana-based offshore mechanical testing products provider Global X-Ray & Testing Corporation for 45 million in cash.

Sports Direct International Plc slipped 1.9% to 694.50 pence after the sports goods retailer said Chief Executive Officer Dave Forsey and Group Finance Director Bob Mellors, granted to reduce their stake of 0.01% stakes or 950,000 shares worth 13 million at a price of 680 pence per share.

Ted Baker Plc decreased 0.8% to 1,904 pence after the U.K. based men and women wear retailer said group revenue in the first-half ending in August surged 30.9% to 155.2 million and pre-tax profit climbed 24.3% to 11.6 million.

Retail sales in the quarter soared 30.2% on 12.4% more space and wholesale sales in the period advanced 33.4%.

William Hill Plc fell 0.2% to 410.30 pence after the U.K. based gambling company said net revenue from mobile gaming surged 126%. Retail football staking in the quarter soared 27% and group net revenue grew 10%. Group operating profit declined 31% to 24 million.

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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