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Market Update

Kensington Agreed to £180 M Deal, Whitbread Sales Jumps


Author: Nigel Thomas
ticker.com
Last Update: 1:48 PM ET September 09 2014

4:00 PM Frankfurt – Balfour Beatty secured contract worth £70 million to construct the new Crossrail station. Dixons Carphone sales jumped 3%. Kensington Group acquired for £180 million. Whitbread sales surged 13%. Quindell wins a court ruling against Gotham City.

In London trading, FTSE 100 index fell 0.2% or 13.25 to 6,821.52 and in Frankfurt the DAX index dropped 0.6% or 58.02 to 9,700.01.

In Paris, CAC 40 index decreased 0.5% or 24.04 to 4,450.89.

Balfour Beatty Plc slid 0.1% to 234.87 pence after the U.K.-based infrastructure developer secured contract worth £70 million to construct the new Crossrail station at Woolwich.

Dixons Carphone Plc rose 0.2% to 369.90 pence after the U.K.-based electronics retailer said U.K. and Ireland sales in the first-quarter ending in July jumped 3% and comparable sales climbed 4% from a year ago period.

The company said sales in Nordics declined 7% while in Greece rose 1% and comparable sales grew 1% and advanced 6% in respective regions from a year earlier.

The company’s total sales in the quarter fell 1% but comparable sales increased 3%. Carphone Warehouse sales in the quarter plunged 17% and comparable sales dropped 6% from the same quarter of last year.

The company said merger with Carphone Warehouse was completed on August 7 and the stock will be included in the benchmark FTSE 100 index onSeptember 22.

Kensington Group Plc, the U.K.-based mortgage lender agreed to be acquired by the U.S.-based Blackstone Group LP and TPG Capital Management LP for £180 million or $289.7 million from Investec Plc.

Whitbread Plc slid 0.07% to 4,395 pence after the U.K.-based hotels and restaurants operator reported total sales in the eleven-week period ending on August 14 surged 12.8% and comparable sales climbed 6.8% from a year ago period.

The company said revenues in the period from hotel chain Premier Inn business soared 14.7% and comparable sales jumped 9.2% from a year earlier.

Total sales from Costa coffee shop climbed 17.8% and its comparable sales increased 7.3% from a year ago.

Quindell Plc gained 1.5% to 167.50 pence after the U.K.-based software and consulting service provider won a court ruling against U.S.-based short seller Gotham City Research LLP.

In April, Gotham City questioned company’s revenue and profit reports and raised question on its financial results and the competence of managers. After the release of research report, Quindell share tumble 39% in one day.

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