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Market Update

Just Eat Founders Sold 8.7% Stake, Sage Group Profit Surges

Author: Nigel Thomas
Last Update: 10:55 AM ET December 03 2014

4:00 PM Frankfurt Deutsche Bank and retail property group ECE agreed to acquire PalaisQuartier for about 800 million. Just Eat raised around 139 million. Sage Group profit surged 295% to 188 million. Telenor and TeliaSonera agreed to merge Danish mobile businesses.

In London trading, FTSE 100 index fell 0.2% or 14.44 to 6,727.66 and in Frankfurt the DAX index gained 0.4% or 38.14 to 9,972.22.

In Paris, CAC 40 index rose 0.2% or 8.22 to 4,396.52.

Deutsche Bank AG gained 1.6% to 26.67 after the Germany-based financial service provider and retail property group ECE agreed to acquire PalaisQuartier shopping center and hotel complex in the center of Frankfurt for about 800 million.

Just Eat Plc plunged 8.8% to 309.30 pence after the U.K.-based online takeaway food platform operator founders sold their 8.7% stake or 44 million shares to raise around 139 million.

Nexity SA declined 3.2% to 30 after the France-based retail bank BPCE sold its stake of 4% in the real estate developer.

The Sage Group Plc climbed 5.2% to 424.60 pence after the U.K.-based enterprise software developer reported revenue in the year ending in September declined 5% to 1.31 billion from 1.38 billion a year ago period.

Net profit in the year surged 295.1% from a year ago to 187.7 million compared to 47.5 million and diluted earnings per share jumped to 17.04 pence from 3.96 pence.

Telenor ASA jumped 2.1% to 153.20 kronor after the Norway-based telecom company and Sweden-based TeliaSonera AB agreed to merge Denmark-based mobile businesses to new joint venture on an equal valuation. The company expects to generate revenue of about 9.1 billion kronor or $1.5 billion.

The transaction expected to close in next year.

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