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Market Update

Europe Earnings: Dufry, Enel, Nokia, Wonga

Author: Nigel Thomas
Last Update: 11:14 AM ET September 03 2013

4:00 PM Frankfurt – Dufry secured long-term contracts with airports in Brazil. Enel plans to revive hybrid bond sale to raise €5 billion. Microsoft agreed to acquire Nokia’s handset business for €5.44 billion. UK based Wonga said net profit climbed 36% to £62.5 million.

In London trading, FTSE 100 index slid 0.3% or 20.05 to 6,486 and in Frankfurt the DAX index fell 0.4% or 30.04 to 8,214.

In Paris, CAC 40 index slipped 0.3% or 11.91 to 3,994.

Dufry AG gained 2.9% to 129.60 franc after the Switzerland-based duty-free stores operator secured long-term contracts with airports in Brazil and expected investment of $250 million to $275 million.

Enel SPA rose 0.3% to £2.56 after the Italy-based electric utility provider revived the hybrid bond sale that was delayed in June, earlier the company planned to raise nearly €5 billion from hybrid bonds before 2015.

Microsoft Corporation (MSFT), agreed to buy handset business of Finland based Nokia Oyj and license its patents for €5.44 billion or $7.2 billion.

Stock in the pre-market of NYSE surged 42.8% to $5.57.

After the deal, shares of European telecom surged as Alcatel Lucent SA soared 8.6% to £2.19, LM Ericsson Telefon AB climbed 5.6% to 83 kronor and STMicroelectronics NV jumped 2.4% to £6.42.

Wonga.com, the UK based private lender said revenue in the year soared 68% to £1.2 billion and net profit climbed 36% to £62.5 million from a year ago.

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