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Market Update

Indexes in U.K. and Europe Surge in Final Quarter and in 2016

Author: Sarla Buch
Last Update: 11:25 AM ET December 30 2016

4:00 PM Frankfurt Despite Brexit fears, indexes in the U.K. and Europe surged in the quarter and extended the halted rally in the year. Hammerson agreed to sell 50% stake in Watermark to its Singapore-based partner GIC. ICAP completed the sale of its global hybrid broking business to Tullett Prebon for 1.3 billion.

In London trading, FTSE 100 index gained 22.57 or 0.3% to 7,142.83 and in Frankfurt the DAX index edged up 30.01 or 0.3% to 11,481.06.

In Paris, CAC 40 index rose 12.43 or 0.3% to 4,850.90.

For the week, FTSE 100 index increased 1.5%, the DAX index rose 0.5% and the CAC 40 index edged up 0.4%.

For the month, FTSE 100 index soared 4.9%, the DAX index advanced 7.7% and the CAC 40 index jumped 5.9%.

For the quarter, FTSE 100 index jumped 3.2%, the DAX index surged 9.1% and the CAC 40 index soared 9.1%.

For the year, FTSE 100 index surged 13.4%, the DAX index jumped 6.7% and the CAC 40 index advanced 3.7%.

Hammerson Plc increased 1.8% to 573 pence after the U.K.-based real estate developer agreed to sell 50% stake in its newly-opened leisure and dining assets Watermark in Southampton to its Singapore-based partner GIC for 48.5 million or $59.55 million.

TP ICAP Plc, formerly ICAP Group jumped 4.8% to 433.30 pence after the U.K.-based brokerage services provider today completed the sale of its global hybrid broking business to Tullett Prebon for about 1.28 billion.

TP ICAP Plc starts trading with a new name called NEX Group Plc from today.

""Today we complete our transformation as we officially launch NEX Group, a technology services company,"" chief executive officer of NEX Group Plc Michael Spencer said.

NEX Group Plc stock soared 4.2% to 464.50 pence.

KUKA AG gained 1.7% to 88.55 after the Committee on Foreign Investment in the United States and Directorate of Defense Trade Controls approved takeover of Germany-based robotics and automation solution provider by China-based Midea Group Co., Ltd.

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