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Market Update

Henderson Net Declines 8%, Sanpaolo Restructuring Focuses on Branch Network

Author: Sarla Buch
Last Update: 12:51 PM ET May 29 2017

4:00 PM Frankfurt Hornbach revenues jumped 5%. Henderson lifted its stake in the U.S.-based Empire State Realty Trust. Italy based Sanpaolo intends to close branches as a part of its restructuring plan and reduce operating costs.

In London trading, Frankfurt the DAX index rose 5.41 to 12,607.65 and in Paris, CAC 40 index slid 5.09 to 5,331.52.

In London markets are closed on Late May Bank Holiday.

Biocorp SA gained 3.9% to 9.40 after Reuters said France-based medical and drug delivery devices maker signed an industrialization contract with domestic veterinarian pharmaceutical products maker Virbac SA for manufacturing of a closure system compatible with vials.

Hornbach Holding AG & Co. KGaA, formerly Hornbach Holding AG slipped 1.4% to 68.73 after Germany-based real estate developer reported revenues in the year ending in February jumped 4.9% from a year ago to 3.94 billion.

Net income in the year declined 8% from a year ago to 89.9 million from 97.7 million and diluted earnings per share slumped 4.84 from 5.04.

The real estate developer said operating profit in the year advanced 5.7% to 159.8 million from 151.2 million in the same period a year ago.

Henderson Group Plc, the U.K.-based asset manager lifted its stake in the U.S.-based Empire State Realty Trust Inc by 4.4% during the first quarter according to a regulatory filing with the U.S. Securities and Exchange Commission.

The fund owned 422,483 shares after acquiring additional 17,970 shares during the period worth $8.7 million.

Sanpaolo SpA dropped 2.4% to 2.56 after Financial Times said Italy-based banking services provider intends to close branches and reduced operating costs.

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