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Market Update

Go-Ahead Profit Surges 37%, Rocket Internet Net Loss Widens

Author: Sarla Buch
Last Update: 12:10 PM ET September 02 2016

4:00 PM Frankfurt Go-Ahead net surged 37% on 5% increase in revenues. Rocket Internet said net loss in the first-half widened to 617 million on the rising losses in start losses. Segro plans to raise 340 million through a secondary offering.

In London trading, FTSE 100 index soared 165.27 or 2.5% to 6,911.58 and in Frankfurt the DAX index increased 134.36 or 1.3% to 10,667.25.

In Paris, CAC 40 index jumped 90.49 or 2% to 4,530.16.

For the week, FTSE 100 index gained 0.6%, the DAX index rose 0.8% and the CAC 40 index advanced 2%.

Go-Ahead Group Plc surged 11.8% to 2,233 pence after the U.K.-based public transport operator said revenues in the year ending on July 2 jumped 4.5% from a year ago to 3.4 billion.

Net profit in the period soared 37.1% from a year ago to 81.3 million compared to the 59.3 million and diluted earnings per share rose to 161.4 pence from 119.5 pence.

Rocket Internet SE plunged 10.2% to 17.27 after the Germany-based investment manager reported net loss in the first-half ending in June widened to 617 million compared to the 45.9 million a year ago period manly due to write-downs of its portfolio companies.

The losses and impairments were from its biggest start-ups and online retailer Global Fashion Group. On July 22, GFG contributed a loss of 383 million and wrote-off goodwill and intangible assets.

Segro Plc slumped 2% to 446 pence after the U.K.-based real estate developer plans to raise 340 million to fund development projects by placing 74.8 million of new shares.

Segro said it contracted 9.9 million of new rent since 30 June 2016, including 2.8 million of existing space and the company added it sees positive leasing trend the first half of 2016.

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