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Market Update

Europe Movers: AstraZeneca, ITE Group, Londonmetric, Tesco, Vallourec

Author: Sarla Buch
Last Update: 10:24 AM ET October 03 2016

4:00 PM Frankfurt – AstraZeneca entered into a worldwide licensing agreement with the U.S.-based Allergan for the medi2070. ITE Group said revenue in the year fell 2%.Londonmetric Property agreed to sell two retail parks for £55 million. Vallourec mergered its two Brazilian units.

In London trading, FTSE 100 index jumped 63.46 or 0.9% to 6,962.79 and in Frankfurt the DAX index advanced 105.48 or 1% to 10,511.02.

In Paris, CAC 40 index edged down 3.56 to 4,444.70.

AstraZeneca Plc increased 0.6% to 5,034 pence after the U.K.-based biopharmaceutical group entered into a worldwide licensing agreement with the U.S.-based Allergan for the medi2070 inflammatory disorder development program for about $1.27 billion.

ITE Group Plc slumped 3.1% to 157.50 pence after the U.K.-based international event’s organizer said revenue in the year ending in September fell 2.2% from a year ago to£133 million.

Londonmetric Property Plc rose 0.2% to 160.40 pence after the U.K.-based property developer today agreed to sell two retail parks for £55 million; Pierpoint Retail Park in Kings Lynn for £24 million and Damolly Retail Park in Newry, Northern Ireland for £30.7 million; to a local investor and contractor MJM Group.

Tesco Plc increased 0.3% to 183.55 pence on press reports that the U.K.-based supermarket operator may face legal action by the end of this month from its 60 major investors for the revised overstated profits of £326 million.

Vallourec SA jumped 3.3% to €3.86 after France-based industrial steel tube products maker confirmed that it had finalized the merger of its two Brazil-based subsidiaries into Vallourec Solucoes Tubulares do Brasil.

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