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Market Update

Europe Earnings: Bouygues, Balfour Beatty, Havas, Intu Properties, Investec

Author: Nigel Thomas
Last Update: 11:46 AM ET March 21 2014

4:00 PM Frankfurt – Bouygues revised its SFR bid to €13.15 billion. Balfour Beatty won contract a contract of £214 million to expand Dubai Mall. Havas net rose 2% to €128 million. Intu acquired three UK based retail centers for £868 million. Investec climbed 5%.

In London trading, FTSE 100 index edged up 0.03% or 2.22 to 6,544.66 and in Frankfurt the DAX index gained 0.2% or 23.05 to 9,319.17.

In Paris, CAC 40 index rose 0.02% or 0.89 to 4,328.80.

Bouygues SA fell 0.9% to €30.38 after the France-based communication company revised its bid again for Vivendi SA’s SFR unit for offer of €13.15 billion from €11.3 billion earlier one.

Balfour Beatty Plc slipped 0.8% to 280.16 50 pence after the U.K.-based infrastructure developer won contract for expansion works in the world''s largest shopping center Dubai Mall for £214 million.

Havas SA slipped 1.7% to €5.70 after the France-based advertising and communications service provider reported revenue in the year ending in December fell 1.1% to €1.77 billion from €1.79 billion a year ago.

Net income in the year rose 1.6% to €128 million compared to €126 million and diluted earnings per share edged up to 32 cents from 31 cents a years earlier.

Havas said net financial debt at the end of the year in December was €90 million compared to €165 million a year ago period.

Intu Properties Plc slid 0.1% to 308 pence after the U.K.-based shopping-mall owner agreed to acquire three retail centers from Australia-based Westfield Group for £868 million or $1.4 billion.

Investec Plc climbed 4.7% to 468.50 pence after the U.K.-based bank and asset manager estimated record operating result for fiscal 2014. Wealth & Investment unit is estimated to report “substantial improvement” is results and Asset Management unit to report “moderate” improvement from last year.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc