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Market Update

Europe Movers: BAE Systems, Lafargeholcim, Swiss Life, Vivendi, William Hill

Author: Sarla Buch
Last Update: 10:31 AM ET October 10 2016

4:00 PM Frankfurt – BAE Systems signed ten year extension contracts from Royal Navy. Lafargeholcim agreed to sell its 54.3% stake of Chile-based unit. Swiss Life agreed to buy Mayfair Capital. William Hill and Amaya agreed on merger terms.

In London trading, FTSE 100 index gained 50.63 or 0.7% to 7,095.32 and in Frankfurt the DAX index increased 128.97 or 1.2% to 10,619.45.

In Paris, CAC 40 index jumped 45.87 or 1% to 4,495.49.

BAE Systems Plc advanced 1.2% to 547 pence after the U.K.-based defense, aerospace and security products maker signed a ten-and-a-half-year contract extension to provide the Royal Navy with combat systems.

Separately, BAE Systems Information and Electronic Systems Integration Inc, a unit of BAE Systems Plc was awarded contract worth $618 million for Advanced Precision Kill Weapon System II rockets for the U.S. military and the governments of Iraq, Lebanon, the Netherlands, Jordan, and Australia, the Pentagon said on Friday.

Lafargeholcim Ltd rose 0.7% to 52.25 Swiss Francs after Switzerland-based cement producer agreed to sell its 54.3% stake of Chile-based Cemento Polpaico, to investment firm Inversiones Caburga Limitada for 220 million Swiss franc or $225 million through public tender offerings.

Swiss Life Holding AG gained 0.5% to 254.80 Swiss Francs after Switzerland-based insurance service provider’s subsidiary agreed to acquire London-based property investment and management group Mayfair Capital business for about £1 billion or $1.24 billion.

Vivendi SA increased 2.1% to €18.45 after France-based media conglomerate’s chairman of the board Vincent Bollore increased his stake to more than 20% in the company.

William Hill Plc jumped 3.1% to 303.80 pence after the U.K.-based online sports betting services provider and Canada-based online gambling services provider Amaya Inc said they were in preliminary talks to combine through all-stock merger of equals.

Amaya, said “we become a big player and that enables us to swallow smaller players as appropriate” and combination may generate cost savings of about £100 million.

In July, William Hill received offer but chief executive James Henderson refused the deal of consortium for 394 pence in cash and shares valued at about £3.4 billion from 888 Holdings Plc and Rank Group Plc after a profit warning.

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