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Market Update

European Markets in 2-Day Rally, Barclays Sells Unit to Bloomberg

Author: Lucy Stoeva
Last Update: 10:59 AM ET December 16 2015

4:00 PM Frankfurt European markets rally for the second day in a row. AstraZeneca agreed to acquire the respiratory business of Japan-based Takeda. Barclays agreed to sell its risk analytics and index solution business to Bloomberg for 520 million.

European stock markets extended gains for the second day following the market advance in New York and ahead of key interest rate decision later today.

The October trade surplus of the Euro zone rose to 24.1 billion from 22.4 billion a year ago, according to the first estimates of Eurostat.

In the wider EU28 region, the trade surplus dropped to 3.2 billion in October from 6 billion in a year ago period.

Separately, Eurostat reported that the annual inflation rate in the euro zone rose to 0.2% in November from 0.1% in October.

In the EU28 region, annual inflation grew 0.1% in November, compared to being flat in the previous month.

A year ago month, the inflation rate was 0.3% both in the euro zone and the European Union.

In London trading, FTSE 100 index jumped 67.29 or 1.1% to 6,084.40 and in Frankfurt the DAX index increased 110.42 or 1% to 10,558.37.

In Paris, CAC 40 index gained 38.87 or 0.8% to 4,654.53.

AstraZeneca Plc jumped 1.2% to 4,444 pence after the pharmaceutical maker announced the acquisition of the respiratory business of Japan-based Takeda Pharmaceutical Co. for 383 million.

The deal provides AstraZeneca with access a key drug for lung disease.

Additionally, the company will invest up to $100 million for the option to acquire the China-based biological drug manufacturer WuXi AppTec, and will spend $50 million to expand its manufacturing facilities in China.

Barclays Plc increased 0.7% to 216.25 pence after the financial services provider agreed to sell its risk analytics and index solution business to Bloomberg for 520 million.

The sale of the division will result in a pre-tax gain of about 480 million and the transaction is expected to close in the mid-2016.

Casino Guichard Perrachon SA soared 7.9% to 49.61 after the French convenience and discount stores operator announced plans to sell part of its real estate in Thailand and Colombia in an effort to reduce its the debt by more than 2 billion next year.

Dixons Carphone Plc gained 2.6% to 489 pence after the U.K.-based electronics retailer reported revenues in the first-half ending in October soared 44.4% from a year ago to 4.39 billion.

Net in the period swung to 46 million compared to a loss of 38 million a year ago. Diluted earnings per share soared to 3.9 pence from diluted loss per share of 4.7 pence.

Technip jumped 2.4% to 47.65 after the French engineering and construction services provider secured a contract to develop the Odd Job field in the Gulf of Mexico.

Zodiac Aerospace SA dropped 4.1% to 22.13 despite revenues in the first-quarter jumped 8.8% from a year ago to 1.24 billion.

Revenues in the systems activities business soared 6.9% to 479.1 million, while revenues in aircraft interiors activity segment surged 10.1% to 758.9 million from a year ago.

However, the French company said it may miss its target for 15 Airbus A350 this year, because of delays in receiving cabin fittings.

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