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Market Update

Fraport June Traffic Jumps, Ryanair Agrees to Aer Lingus Deal

Author: Nigel Thomas
Last Update: 10:02 AM ET July 10 2015

4:00 PM Frankfurt – Fraport passenger’s traffic in June jumped 3%. InterContinental Hotels sell its Hong Kong unit to a consortium for $938 million. Ryanair agreed to vote in favor of IAG offer for its 29.8% stake in Aer Lingus.

In London trading, FTSE 100 index jumped 1.5% or 96.83 to 6,678.41 and in Frankfurt the DAX index advanced 2.6% or 281.81 to 11,278.82.

In Paris, CAC 40 index soared 3.4% or 162.03 to 4,919.25.

For the week, FTSE 100 index increased 1.4% and the DAX index jumped 2% and the CAC 40 index gained 2.3%.

Fraport AG Frankfurt Airport gained 1.7% to €58.28 after the Germany-based airport services provider reported passenger traffic in June jumped 2.8% from a year ago month to 5.7 million.

The average number of passengers per flight rose to a record of 135.4 and June traffic was record for that month as well.

The airport added total passenger’s traffic in the first-half ending in June climbed 4.1% to 28.9 million. However cargo maximum takeoff weights dropped 2.5% to 173,984 metric tons.

InterContinental Hotels Group Plc increased 3% to 2,685 pence after the U.K.-based hotel, motels and cruise operator agreed to sell InterContinental Hong Kong to a consortium of buyers for about $938 million but will retain a 37-years management contract.

Ryanair Holdings Plc jumped 3.3% to €12.51 after the Ireland-based low-cost airline company agreed to British Airways-parent International Consolidated Airlines Group SA’s offer for its 29.8% stake worth about €1.3 billion in Aer Lingus Group Plc.

Ryanair said it will now vote in favor of the motion at the Aer Lingus shareholders extraordinary general meeting scheduled on July 16 to vote on the IAG officer.

ReNeuron Group Plc surged 15.4% to 5.62 pence after the U.K.-based clinical-stage stem cell company said net loss for the year ending in March widened to £8.91 million from £7.07 million in a year ago period.

The company added its plans to place new shares of up to 1.37 billion to raise a total of as much as £68.4 million.

Smith & Nephew Plc increased 1.3% to 1,128 pence after the U.K.-based artificial hip and knee maker agreed to acquire trauma and orthopedics business of DeOst LLC and DC LLC, owned by Russia-based DeOst group for undisclosed financial terms.

DeOst distributes Smith & Nephew’s products in Russia since 2009.

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