4:00 PM Frankfurt – Air France said 4-day domestic pilot strike has cost the airline more than €40 million. Areva plans to split in three companies and raise as much as €8 billion. EDF and DIF agreed to acquire Thyssengas for €700 million. Zodiac third-quarter revenues jumped 4% to €1.4 billion.
European markets rebounded led by a slight upturn in resource sector after the broader market dropped for five days in a row.
Broader European market indexes traded near 4-month low as the United Kingdom prepared for a referendum on European Union membership next week.
In addition, traders also scaled back positions ahead of rate decision later in the day from the U.S. Federal Reserve.
In London trading, FTSE 100 index jumped 43.27 or 0.7% to 5,966.80 and in Frankfurt the DAX index gained 87.51 or 0.9% to 9,606.71.
In Paris, CAC 40 index increased 41.25 or 1% to 4,171.58.
Air France KLM SA
rose 0.5% to €6.29 after the France-based airline company said domestic pilot strike of last four days has costed the airline more than €40 million or $45 million.
slipped 0.5% to €3.87 after the France-based technological solutions provider restructuring its roadmaps for 2016-2020 and its chief executive officer Philippe Knoche said that the company would be split into three.
He added a separate new entity, refocused on mining, front-end and back-end operations, Areva and New Co will each benefit from a capital increase in the combined amount of €5 billion.
The company said new company will have a diversified and competitive portfolio of mining assets and projects and plans to raise as much as €8 billion or $9 billion from shareholders and asset sales in a wide-ranging restructuring after years of losses.
Electricite de France SA
jumped 3.2% to €10.81 after the Reuters said France-based electricity producer and Netherland-based infrastructure fund DIF agreed to acquire Macquarie-owned Germany-based gas grid Thyssengas for about €700 million or $730 million.
Steinhoff International Holdings NV
gained 1.9% to €5.02 after the Netherlands-based household goods retailer confirmed that it is considering an offer for the budget chain Poundland Group Plc without the consent of the management
Poundland is due to report full-year results.
Zodiac Aerospace SA
surged 12.3% to €21.42 after the France-based aeronautical company reported revenues in the third-quarter jumped 3.7% from a year ago to €1.35 billion and the company reaffirmed financial targets for fiscal 2016 and the current year operating income will be nearly as in the previous year.
The stock soared as much as 25% on the media report that the Safran group is preparing an acquisition bid.