4:00 PM Frankfurt Bayer agreed to acquire consumer care business from Merck for $14.2 billion. BMW profit surged 11% to 1.5 billion after sales jumped. Barclays profit climbed 15% to £1.2 billion but revenue dropped. Balfour Beatty tumbled after fiscal outlook. UBS net jumped 6% to 1.05 billion francs.
In London trading, FTSE 100 index fell 0.4% or 29.45 to 6,792.97 and in Frankfurt the DAX index dropped 0.7% or 71.13 to 9,458.37.
In Paris, CAC 40 index slipped 0.7% or 29.45 to 4,433.24.
rose 0.6% to 100.65 after Germany-based health care products maker agreed to acquire Mercks consumer care business from the U.S.-based Merck & Co., Inc for $14.2 billion, including the global trademark and prescription rights for Claritin and Afrin.
The deal is expected to close in second half of this year.
Bayerische Motoren Werke AG
fell 0.8% to 88 after Germany-based automobile company reported revenue in the first-quarter climbed 8.2% to 2.13 billion from 1.97 billion a year ago.
Net profit in the quarter surged 11.4% to 1.46 billion compared to 1.31 billion and earnings per share increased to 2.22 from 1.99 a year earlier.
BMW said total sales in the quarter jumped 8.7% to 487,024 units from 448,200 units and sales in the motorcycle segment soared 16.1% to 28,719 units compared to 24,732 units a year ago period.
declined 4.7% to 246.20 pence after the U.K.-based financial services provider said total revenue in the first-quarter ending in March dropped 10% to £6.77 billion from £7.48 billion a year ago period.
Profit in the quarter climbed 15% to £1.21 billion compared to £1.04 billion and earnings per share slipped to 5.9 pence from 6.3 pence a year earlier.
Balfour Beatty Plc
tumbled 19% to 231.50 pence after the U.K.-based infrastructure company lowered its pre-tax profits for the year and expects in the range of £145 million to £160 million.
The company said order book in the first quarter reduced to £12.9 billion compared to £13.4 billion a year ago and average net debt for the year to increase by £25 million to £375 million.
gained 1% to 18.46 francs after the Switzerland-based financial services provider reported total group revenue in the first-quarter ending in March declined 6.7% to 7.26 billion francs from 7.78 billion francs a year ago.
Net profit in the quarter jumped 6.7% to 1.05 billion francs compared to 988 million francs and diluted earnings per share rose to 0.27 francs from 0.26 francs a year ago period.