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Market Update

Europe Earnings: Shire, Generali, Kuehne & Nagel, SEB

Author: Nigel Thomas
Last Update: 4:05 AM ET July 14 2014

4:00 PM Frankfurt Shire received revised offer from the AbbVie of 53.20 per share or 31.4 billion. Generali sell its unprofitable non-core unit BSI to BTG Pactual for 1.5 billion Swiss francs. Kuehne & Nagel net climbed 8% to 313 million francs. SEB profit surged 10% to 4.17 billion kronor.

In London trading, FTSE 100 index climbed 1% or 67.25 to 6,757.42 and in Frankfurt the DAX index jumped 1% or 95.83 to 9,762.17.

In Paris, CAC 40 index increased 0.6% or 24.55 to 4,341.05.

AVEVA Group Plc fell 0.8% to 2,045 pence after the U.K.-based software services provider forecasted to maintain a strong balance sheet in the first quarter ending in June with solid net cash of 129 million.

Shire Plc gained 1.4% to 4,938 pence after the fifth attempt and four days of renewed talks between the two drug makers London-listed biopharmaceutical group received revised offer from the U.S.-based AbbVie of 53.20 or $91.07 per share that valued 31.4 billion or $53.62 billion in the weekend.

Assicurazioni Generali SpA edged up 0.06% to 15.40 after the Italy-based insurance company sell its Swiss private bank BSI, unprofitable non-core unit to Brazil-based BTG Pactual for 1.5 billion Swiss francs or $1.7 billion in cash and stock.

Kuehne & Nagel International AG climbed 3.1% to 120.20 francs after the Switzerland-based logistics service provider said net revenue in the first-half slid 0.6% to 8.50 billion francs from 8.55 billion francs a year ago period.

Net income in the period climbed 8.3% from a year ago to 313 million francs compared to 289 million francs and diluted earnings per share jumped to 2.57 francs from 2.38 francs a year earlier.

Skandinaviska Enskilda Banken AB increased 1.1% to 90.70 kronor after the Sweden-based bank reported total revenues in the second-quarter ending in June jumped 4% to 11.08 billion kronor from 10.65 billion kronor a year ago.

Net income in the quarter surged 10% from a year ago to 4.17 billion kronor compared to 3.79 billion kronor and increased to 1.89 kronor from 1.72 kronor a year earlier.

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