3:20 PM Frankfurt – Balfour signed contract with Sydney Water valued £450 million for next five years. Invensys received takeover offer from France based Schneider Electric SA for £3.3 billion. Phoenix Group said Swiss Re may take minor stake in the company.
In London trading, FTSE 100 index edged up 0.2% or 11.12 to 6,554 and in Frankfurt the DAX index added 0.6% or 52.36 to 8,211.
In Paris, CAC 40 index slid 0.2% or 7.84 to 3,861.
Balfour Beatty Plc
gained 1.1% to 228.11 pence after the UK based infrastructure developer today signed with Australia''s largest water utility provider Sydney Water for approximately $150 million or £91 million in total over the next five years.
surged 15.8% to 509.50 pence after the UK based technology received takeover offer from France based electricity distributor Schneider Electric SA and agreed to pay 505 pence a share for total consideration of £3.3 billion. Schneider Electric plans to expand its key electro-intensive segments.
Under the terms, Schneider will pay 319 pence a share in cash and 186 pence in new Schneider shares.
Phoenix Group Holdings
soared 8.7% to 710 pence after the UK based life & health insurance company confirmed that the company is in preliminary discussions with Swiss Re Ltd may take minority stake in the company.