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Market Update

Europe Movers: EasyJet, Erste Group Bank, Gowex, Porsche, Serco

Author: Nigel Thomas
Last Update: 10:33 AM ET July 04 2014

4:00 PM Frankfurt – EasyJet June passenger count climbed 10%. Erste Group tumbled after bank forecasted net loss for the year of as much as €1.6 billion. Porsche to increase its stakes in Bertrandt. Serco lost its Docklands Light Railway service franchise.

In London trading, FTSE 100 index advanced 0.6% or 40.42 to 6,856.79 and in Frankfurt the DAX index climbed 1% or 102.33 to 10,013.60.

In Paris, CAC 40 index jumped 0.9% or 39.73 to 4,484.45.

EasyJet Plc gained 1.1% to 1,363 pence after the U.K.-based budget airline said the number of passengers in June climbed 10.1% to 6.1 million compared to a year 5.54 million in a year ago period.

The company said monthly number of seats available for passengers rose 2.1% to 92% from 89.9% from a year earlier.

Erste Group Bank AG tumbled 16.1% to €19.57 euros after the Austria-based bank forecasted net loss for the year between €1.4 billion and €1.6 billion.

Gowex SA was halted at €7.92 after the Gotham City Research LLC said it confident that revenue reported by the free public Wi-Fi provider “does not exist.”

Gowex said in a report issued today claims by Gotham City’s are “unfounded and defamatory” and said company is preparing a report of facts to clarify revenue status.

The company confirmed revenues of €182.6 million in 2013 which were verified by a chartered account auditor.

Porsche Automobile Holding SE rose 0.2% to €77.40 after the German automaker plans to increase its stake in Bertrandt AG by 0.4% to about 29%.

Serco Group Plc slid 0.7% to 360.30 pence after the U.K.-based outsourcing service provider lost its Docklands Light Railway in London renewal franchise.

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