4:00 PM Frankfurt – Ladbrokes Coral surged on takeover offer from GVC. France-based telecom operator Orange SA offered mildly optimistic outlook. Smith & Nephew completed acquisition of Rotation Medical. Uniper fell on fiscal 2018 outlook but raise dividend.
In London trading, FTSE 100 index fell 14.37 or 0.2% to 7,333.54 and in Frankfurt the DAX index increased 14.58 to 13,012.53.
In Paris, CAC 40 index edged up 2.91 to 5,377.12.
Ladbrokes Coral Group Plc
surged 33.2% to 180.80 pence after the U.K.-based betting and gaming services provider received an offer from its rival GVC Holdings Plc for 203.7 pence per share or about £3.9 billion or $5.2 billion.
GVC Holdings Plc stock soared 8.7% to 988 pence.
advanced 2.6% to €14.60 after France-based mobile services provider forecasted operating profit in fiscal 2017 of about 2% and sounded optimistic for growth in the next three years.
The mobile services provider estimated capital expenditure in 2018 of €7.4 billion and confirmed fiscal 2017 dividend payment of at least €0.65 per share.
Orange reaffirmed its strategy and the telecom operator said it aims further savings of €1 billion by 2020.
Smith & Nephew Plc
fell 0.8% to 1,314 pence after the U.K.-based medical devices maker said that it had completed the acquisition of Rotation Medical Inc for about $125 million and additional payment of $85 million in the next five years based on performance.
slipped 1.7% to €25.24 after Germany-based energy producer forecasted fiscal 2017 operating profit between €800 million and €1.1 billion and net income in the range of €1 billion to €1.2 billion.
The energy producer said dividend in fiscal 2017 of about €250 million and plans to increase its 2018 dividend by 25% to €310 million.
jumped 6.8% to 184.50 pence after the U.K.-based pensions actuarial, consulting and administration services provider said that Punter Southall Group Limited today proposed to buy its pensions actuarial, consulting and administration business for a total consideration of up to £153 million.