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Market Update

Europe Movers: Carrefour, Suedzucker, Vedanta

Author: Nigel Thomas
Last Update: 11:34 AM ET April 10 2015

4:00 PM Frankfurt Carrefour said first-quarter sales soared 6% to 21 billion. Majestic Wine plans to acquire Naked Wines International Ltd for 70 million. Suedzucker revenues declined 9% to 6.8 billion and operating profit tumbled 71% to 180 million. Vedanta said daily oil production declined 4%.

In London trading, FTSE 100 index jumped 0.8% or 57.67 to 7,073.03 and in Frankfurt the DAX index climbed 1.4% or 170.30 to 12,336.74.

In Paris, CAC 40 index increased 0.3% or 16.64 to 5,225.59.

Carrefour SA gained 1.8% to 32.67 after the France-based hyper and supermarkets operator reported sales in the first-quarter ending in March soared 6.2% to 21 billion from a year ago period.

The retailer said domestic sales in the quarter jumped 3.6% to 9.56 billion and sales in international region climbed 8.4% to 11.45 billion from a year ago period.

Majestic Wine Plc increased 1.9% to 323.50 pence after the U.K.-based alcoholic beverage retailer plans to acquire Naked Wines International Ltd for 70 million in a cash-and-stock deal.

Suedzucker AG plunged 7.8% to 32.67 after the Germany-based agricultural raw materials maker said revenues in the year ending in February declined 9.3% to 6.8 billion from 7.5 billion a year ago period.

Operating profit in the year tumbled 71.1% from a year ago to 180 million compared to 622 million.

The sugar maker forecasted fiscal 2015 revenues to decline to between 6 billion and 6.3 billion and operating profit to decrease in the range of 50 million to 150 million.

Despite the difficult business environment, the company confirmed operating profit for the first-half of about 550 million.

Vedanta Resources Plc declined 3.5% to 520 pence after the U.K.-based and India focused diversified natural resources company said fourth-quarter gross production of oil and gas decreased 4% to 215,553 barrels of oil equivalent per day from 224,429 in the previous year.

Average gross production for fiscal 2015 dropped 3% from a year ago to 211,670 boepd.

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