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Market Update

Halfords Sales Rises, Mothercare Sales Falls; Software AG Net Soars

Author: Sarla Buch
Last Update: 9:12 AM ET July 14 2016

4:00 PM Frankfurt Fielmann forecasted sales in the first-half to jump 5% and unit sales to advance 6% to 2 million. Halfords revenues 2.1% and retail sales rose 1.5%. Sainsbury won 69 million judgement against Mastercard. Mothercare sales fell 2.1%. Software AG net soared.

European markets powered ahead after two weeks of doldrums and banking and resource sector stocks led the advance.

Regional worries persisted in trading, but traders focused on the corporate news in Germany, U.K. and France.

In London trading, FTSE 100 index slid 5.81 to 6,676.15 and in Frankfurt the DAX index increased 127.92 or 1.3% to 9,961.71.

In Paris, CAC 40 index jumped 68.64 or 1.6% to 4,333.17.

Fielmann AG slumped 2.9% to 68.33 after the Germany-based optical products maker estimated preliminary sales in the first-half ending in June to increase 5% from a year ago to 343 million.

Pre-tax profit in the period jumped 15% from a year ago to 62 million compared to 53.5 million.

Fielmann said unit sales in the second-quarter of 2016 advanced 6% to 2 million pairs of glasses while external sales grew by nearly 5% to 399 million.

Halfords Group Plc dropped 2% to 328.10 pence after the U.K.-based automobile and cycling products retailer reported total group revenues advanced 2.1% and retail sales rose 1.5% while sales in Autocentres jumped 5.9% but comparable store sales fell 0.6%.

J Sainsbury Plc gained 0.7% to 231.90 pence after the Bloomberg said U.K.-based supermarkets and convenience stores operator was awarded 69 million or $91 million by a London judge following long-running dispute over fees charged on card transactions with Mastercard Inc.

Mastercard charges on U.K. credit and debit card transactions ""restricted competition by object and effect, after the Competition and Appeal Tribunal judgment published today.

Mothercare Plc slid 0.2% to 135 pence after the U.K.-based specialist multi-channel retailer said total U.K. sales in the fifteen-week ending on July 9 dropped 2.1% while comparable store sales increased 1.2% and online sales soared 6.4% compared to the same period a year ago.

The retailer said total group sales in the period slipped 1.7% while worldwide sales jumped 2.7% from a year ago period.

Software AG soared 6.1% to 33.09 after the Germany-based infrastructure software provider reported total revenues in the first-half ending in June jumped 5% from a year ago to 409.6 million.

Net income in the period surged 49% from a year ago to 57.7 million compared to 38.6 million.

Software lifted operating profit margin forecast for the full-year to between 30.5% and 31.5% from the earlier estimated range between 30% and 31%.

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