3:20 PM Frankfurt – BG Group sold 65.1% stake in India based Gujarat Gas for about $422 million. Centrica buy 25% stake license for total of £100 million. Elan rejected third attempt of revised takeover bid worth $7.9 billion. Mulberry revenue and profit in the year declined.
In London trading, FTSE 100 index edged up 0.03% or 1.73 to 6,301 and in Frankfurt the DAX index fell 0.8% or 61.23 to 8,082.
In Paris, CAC 40 index inched up 0.06% or 2.13 to 3,796.
BG Group Plc
gained rose 0.7% to 1,181.50 pence after the UK based natural gas explorer sold of the group\\\''s 65.12% stake in India\\\''s largest private natural gas distributor Gujarat Gas Company Limited for about $422 million.
gained rose 0.4% to 369.50 pence after the UK based energy utility provider bought 25% stake in the license for Bowland area in Lancashire from Cuadrilla Resources Ltd. and AJ Lucas for £40 million in cash it will also pay exploration and appraisal costs of approx £60 million,
Elan Corporation, Plc
, Irish biotechnology rejected the revised third attempt of takeover revised bid for $7.9 billion from the US based Royalty Pharma, a privately held investment firm.
Mulberry Group Plc
fell 0.8% to 941 pence after the luxury accessory maker total revenue in the year ending in March slid 2% to £165.1 million from £168.5 million a year earlier. Profit before tax for the year of dropped 27.8% to £26 million compared to £36 million and basic earnings per share slumped 32.2 pence from 43.9 pence a year ago.
Retail revenue in the year climbed 8% to £107.2 million and revenue from the like-for-like jumped 6%. Wholesale revenue declined 16% to £57.9 million.
The Royal Bank of Scotland Group plc
dropped 4.2% to 311.80 pence after CEO Stephen Hester will step down by the end of the year and the company plans to eliminate 2,000 positions.
Zara España, S.A.
, the Spanish textile giant said sales in the first quarter ending in April jumped 5.2% to €3.59 billion. Net profit in the quarter climbed 1.4% to €438 million.
The quarterly profit rose as the retailer pursued global expansion and opened new stores in Japan, China and Russia.