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Market Update

Europe Movers: Air France KLM, Carl Zeiss Meditec, Grenkeleasing, Paragon

Author: Nigel Thomas
Last Update: 12:28 PM ET October 02 2015

4:00 PM Frankfurt – Air France KLM board agreed on a restructuring plan for next two years. Carl Zeiss Meditec estimated revenues for the year to jump 14% to €1 billion. Grenkeleasing said new business in the nine-months jumped 23% to €1.2 billion. Paragon agreed to acquire privately held Five Arrows Leasing for £117 million.

In London trading, FTSE 100 index jumped 93.32 or 1.5% to 6,057.71 and in Frankfurt the DAX index slipped 75.11 or 0.8% to 9,436.18.

In Paris, CAC 40 index fell 29.56 or 0.7% to 4,396.44.

For the week, FTSE 100 index rose 0.3% and the DAX index dropped 1.4% and the CAC 40 index slipped 0.6%.

Air France KLM SA gained 1.4% to €6.07 after the France-based airline’s board approved a restructuring plan for two years after the company failed to win an approval from the pilot’s union.

Carl Zeiss Meditec AG soared 4.5% to €25.60 after the Germany-based surgical equipments maker lifted revenues forecast for the year to jump 14% to €1.04 billion compared to previous guidance of about €960 million.

Grenkeleasing AG rose 0.2% to €141.30 after the Germany-based leasing company said new business in the nine-months jumped 23.2% to €1.21 billion or $1.35 billion compared to €978.8 million in a year ago period.

Kloeckner & Co SE jumped 2.7% to €7.63 after the Germany-based steel and metal distributor agreed to acquire the U.S.-based privately held American Fabricators Inc of Nashville, TN to expand the business.

Legal & General Group Plc increased 1.5% to 240.10 pence after the U.K.-based life insurer and investment manager secured an agreement with the U.S.-based subsidiary of electronics company Royal Philips to provide retirement payments under a group annuity contract to 14,000 U.S. retirees and other former employees.

Paragon Group of Co Plc surged 9.3% to 431.60 pence after the U.K.-based mortgage lender agreed to acquire privately held Five Arrows Leasing Group Limited, an asset-based leasing services provider from Rothschild & Co for about £117 million.

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