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Market Update

Hammerson Positive on Leases; Sophos and Ubisoft Surge

Author: Sarla Buch
Last Update: 12:20 PM EDT April 05 2018

4:00 PM Frankfurt Electrocomponents beats annual revenue expectations. Hammerson said signed leases jumped 59%. Sophos forecasted fiscal 2020 annual billings of $1 billion. Ubisoft soared on the popularity of the latest version of its computer game.

In London trading, FTSE 100 index jumped 130.84 or 1.7% to 7,164.85 and in Frankfurt the DAX index surged 312.09 or 2.6% to 12,263.59.

In Paris, CAC 40 index soared 121.12 or 2.4% to 5,262.91.

Electrocomponents Plc jumped 2.9% to 595.80 pence after the U.K.-based engineering and consumables distributor said revenues in the year ending in March soared 13% and in Asia Pacific regions surged 18% and gross margin performed better-than-expected.

In the fourth-quarter, comparable revenue jumped 10% and in Asia Pacific regions advanced 15% despite fewer trading days from a year ago period.

Hammerson Plc gained 1.1% to 544.40 pence after the U.K.-based shopping centers owner said it did not plans to finalize shareholder documents on the proposed acquisition of Intu Properties.

The property developer said it had a strong start in the first-quarter ending in March with signed leases surged 59% from year ago quarter and traffic at domestic centers increased 0.5% and in France jumped 3.5%.

Sophos Group Plc surged 15.3% to 479.80 pence after the U.K.-based cloud-based security software and hardware provider said billings growth in the year ending in March jumped from the earlier estimated growth of 20% to 22%.

Sophos said billings surged in the fourth-quarter by 23%.

In fiscal 2020, the cyber security solutions provider forecasted annual billings of about $1 billion.

Sophos said preliminary results will be released on May 17, 2018.

Ubisoft Entertainment SA soared 8.1% to 72.10 after France-based video game publisher said first week sales of Far Cry 5 shooting game which was released on March 27 more than doubled to $310 million from Far Cry 4.

People streamed more than 55,000 hours and Twitch and YouTube videos earned more than 117 million viewers.

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