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Market Update

Europe Movers: Associated British Foods, Fuller, Smith, Game Digital, KCOM

Author: Nigel Thomas
Last Update: 11:23 AM ET June 06 2014

4:00 PM Frankfurt Associated British Foods agreed to acquire Dorset Cereals brand from Wellness Foods. Fuller, Smith profit jumped 4% to 29 million. Game Digital to raise 130 million through initial public offering. KCOM net soared 8% to 39 million.

In London trading, FTSE 100 index jumped 0.6% or 39.51 to 6,853 and in Frankfurt the DAX index increased 0.4% or 39.38 to 9,987.21.

In Paris, CAC 40 index climbed 0.7% or 30.73 to 4,579.46.

Associated British Foods Plc slid 0.1% to 3,032.30 pence after the U.K.-based food conglomerate agreed to acquire the Dorset Cereals brand from Wellness Foods for 50 million.

Fuller, Smith & Turner Plc jumped 2.9% to 975 pence after the U.K.-based brewery maker said group revenue in the year ending on March 29jumped 6% to 288 million from 271.5 million a year ago.

Profit in the year jumped 3.5% to 29.1 million compared to 28.1 million and diluted earnings per share increased to 51.39 pence from 49.95 pence a year earlier.

The company said adjusted pretax profit for the year ended March 29 rose 10% to 34.1 million in 2014, which was ahead of the consensus expectation of 33 million.

The company added food and accommodation sales climbed 10% and pubs and hotels jumped 8.3% from a year earlier.

Game Digital Plc, the U.K.-based video game retailer said it expected to receive gross proceeds of 20 million from the IPO while selling shareholders will receive 101 million.

KCOM Group gained 1.7% to 92.40 pence after the U.K.-based communication services provider reported revenue in the year ending in March slid 0.6% to 370.7 million from 372.87 million a year ago period.

Profit in the year soared 8.4% to 38.8 million compared to 35.8 million and diluted earnings per share rose to 7.55 pence from 6.99 pence a year earlier.

Paternoster Resources Plc plunged 11.7% to 28.7 pence after the U.K.-based natural resources investment group said revenue in the year ending in December plunged 66.7% to 230,214 from 692,015 a year ago.

Net in the year swung to a loss of 33,148 compared to profit of 449,833 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