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Market Update

Europe Movers: Gerresheimer, Halfords, Telefonica, Wacker Chemie

Author: Nigel Thomas
Last Update: 10:22 AM ET April 10 2013

3:00 PM Frankfurt – Diageo’s bid for a majority stake in India based United Spirits collapsed. Gerresheimer first quarter revenue climbed 10% and net surged 42%. Halfords total revenue for the quarter grew 1.7%. Telefonica sell stake in its Colombian unit to cut €4.3 billion debt.

In London trading, FTSE 100 index rose 0.9% or 55 to 6,368 and in Frankfurt the DAX index climbed 1.3% to 102.5 to 7,740.

In Paris, CAC 40 index jumped 1.4% or 51.8 to 3,723.

Diageo Plc rose 0.05% to 1,966.39 pence after the UK based wine and alcoholic beverage maker’s bid collapsed for 53% stake of India based United Spirits Limited.

Gerresheimer AG gained 1.9% to €44.48 after the Germany based holding company reported first quarter revenue climbed 10.4% to €296.7 million. Net income for the quarter surged 41.7% to €10.2 million compared to €7.2 million and earnings per share increased to €0.27 from €0.18.

For financial year 2013, Gerresheimer continues to anticipate revenue growth of 5% to 6% and generate adjusted EBITDA margin of nearly 19.4%.

Halfords Group Plc climbed 4.6% to 330.79 pence after the UK based automotive retailer said total revenue for the quarter ended March 29 grew 1.7%, retail revenue rose 0.5% and Autocentres revenue climbed 7.8% and surged 13.5% for the fiscal year.

The retailer said prolonged winter period lifted 3Bs parts sales up 26.3% and fitting penetration up 10.6 percentage points to 39.4%. Online retail sales jumped to 13.4%.

The company anticipates group profit before tax within the range of £68 million to £72 million.

Telefonica SA after the Spain based telecommunication said it plans to sell stake in its Colombian division and canceled its initial public offer to cut €4.3 billion or $5.6 billion debt of 2013.

Wacker Chemie AG soared 4.8% to €58.59 after the Germany based silicon wafers maker introduced innovative silicone products for the electronics, optoelectronics and medical-technology sectors.

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