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Market Update

Micro Focus in 6.6 B Deal with HP Enterprise, Enquest Net Jumps

Author: Sarla Buch
Last Update: 6:43 PM ET September 08 2016

4:00 PM Frankfurt Dixons Carphone said sales in the first-quarter rose 9%. Enquest profit surged 53% but revenues declined 14% and the energy explorer lowered annual production forecast. Air France KLM said passenger count in August fell 1.8%. Micro Focus agreed to acquire non-core assets Hewlett Packard Enterprise for 6.6 billion.

In London trading, FTSE 100 index rose 13.41 or 0.2% to 6,860.25 and in Frankfurt the DAX index declined 127.55 or 1.2% to 10,625.43.

In Paris, CAC 40 index slipped 37.44 or 0.8% to 4,520.31.

Dixons Carphone Plc jumped 3.1% to 385.72 pence after the U.K.-based electrical and telecommunications retailer said group revenues in the first-quarter ending in July advanced 9% and comparable store sales increased 4%.

The electrical and mobile products retailer said sales in Nordics soared 17% and sales in Southern Europe surged 24%.

Enquest Plc slumped 2.6% to 28 pence after the U.K.-based oil and gas producer said revenues in the first-half ending in June declined 13.9% from a year ago to $382.3 million.

Net profit in the period surged 52.5% from a year ago to $151.3 million compared to the $99.2 million and diluted earnings per share increased to 18.2 cents from 12.4 cents.

Enquest lowered its full-year production forecast in the range of 42,000 to 44,000 barrels from earlier estimated range of 44,000 to 48,000.

The oil and gas producer said average production in the first-half jumped 43% to 42,520 barrels of oil per day compared to the same period a year ago.

Air France KLM SA gained 1.1% 5.07 after the France-based airline group said passenger count in August fell 1.8% to 7.2 million and load factor slipped 1.6% to 88.1% from 89.8% from a year ago month.

The airliner said total group passenger in the month increased 1.9% to 8.9 million but load factor dropped 1.5% to 88.6% from 90.1% from a year ago month.

Micro Focus International Plc surged 20.9% to 2,364 pence after the U.K.-based software and information technology provider agreed to acquire non-core software assets of the U.S.-based Hewlett Packard Enterprise Co worth about 6.6 billion or $8.8 billion.

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