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Market Update

Europe Movers: Betfair, EADS, Henkel, KT Corp, Ladbrokes, Saras

Author: Nigel Thomas
Last Update: 11:45 AM ET April 15 2013

3:00 PM Frankfurt – Betfair ignored press speculation of CVC buy out offer. EADS buy back 1.56% stake from French state. Henkel said large acquisitions are not ruled out. KT Corp dropped bid for Vivendi’s Maroc Telecom. Rosneft sold 13.7% stake in Saras.

In London trading, FTSE 100 index slipped 0.9% or 57.3 to 6,327 and in Frankfurt the DAX index fell 0.5% to 42.2 to 7,703.

In Paris, CAC 40 index slid 0.7% or 25.9 to 3,703.

Betfair Group Plc surged 10.1% to 770.50 pence after the UK based online betting operator commented on press speculation that CVC Capital Partners is considering an offer.

The company said there is no certainty that an offer will be made and with what terms and conditions.

EADS NV rose 0.1% to €37.69 after the Netherlands based aerospace and defense sector said under the buyback program the company is in talk with the French State for acquisition of 1.56% for €37.35 per share.

Henkel AG & Co KGaA slid 0.08% to €73.02 after the Germany based consumer goods maker said organic sales in fiscal 2013 to grow 3% to 5% with adjusted return on sales to increase around 14.5% and adjusted earnings per preferred share to increase approx 10%.

The chief executive officer Kasper Rorsted said ""Large acquisitions are not ruled out,"" the company has approx €3.5 billion to €4 billion.

KT Corporation gained 1.3% to 34,450 won after the Korea based telecommunication maker dropped its initial bid to buy Vivendi SA''s controlling stake in Marocco based Maroc Telecom. Stake was valued at about €5.5 billion.

Ladbrokes Plc plunged 7.8% to 190.70 pence after the UK based gaming company reported first quarter group net revenue from continuing operation grew 3.3% and for like-for-like group net revenue slid 0.9%.

The Ladbrokes said weaker-than-expected trading led to operating profit decline of £13 million to £37.4 million in the quarter and the UK gross-win-per-shop-per-week-per machine rose 0.3% to £3.56. UK gross win-per-terminal-week slipped to £916 compared to £923.

The company added net revenue in Ireland declined 8.4% but Net revenue from Belgium increased 3.3%. Net debt narrowed to £341.1 million as on March 31 from £386.9 million as on December 31.

Saras SpA jumped 6.6% to €1.04 after the Italy based energy sector reported Russia based NK Rosneft OAO owned by Moratti family will sales 13.7% stake in the company for a total consideration of €178.5 million.

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