4:00 PM Frankfurt – Amlin agreed to be acquired by Mitusi Sumitomo for £3.5 billion. Ashmore net jumped 4% to £140 million. Betfair and Paddy Power agreed to merge for £5 billion. Barclays agreed to sell U.K. loans business to Goldman Sachs. Genus profit soared 40% to £41 million.
In London trading, FTSE 100 index jumped 77.11 or 1.3% to 6,151.53 and in Frankfurt the DAX index increased 188.23 or 1.9% to 10,297.41.
In Paris, CAC 40 index gained 62.57 or 1.4% to 4,612.21.
surged 33.4% to 657 pence after the U.K.-based non-life insurance company agreed to be acquired by subsidiary of Japan-based rival MS&AD Insurance Group Holdings Limited for 670 pence per share or £3.47 billion or $5.34 billion.
The transaction is expects to close in the first-quarter of fiscal 2016.
Ashmore Group Plc
soared 7.4% to 262.80 investment services provider said net revenues in the year ending in June soared 8% from a year ago to £283.3 million from £262.9 million.
Net profit in the quarter jumped 3.9% from a year ago to £140 million compared to £134.7 million and diluted earnings per share increased to 19.34 pence from 18.63 pence.
Betfair Group Ltd
slid 0.1% to 3,132 pence after the U.K.-based online gambling operator and its rival Paddy Power agreed on a £5 billion or $9.2 billion merger agreement.
The Shareholders of Betfair are entitled to receive 0.4254 of New Paddy Power Betfair shares in exchange for each Betfair Share and shareholders of Paddy Power will receive a special dividend of €80 million.
The merger is expected to complete in the first-quarter of 2016.
jumped 2.5% to 259.20 pence after the U.K.-based financial services provider agreed to sell £1.6 billion or $2.4 billion U.K. loans business to a group of investors led by the U.S. investment bank Goldman Sachs Group Inc.
rose 0.4% to 1,380 pence after the U.K.-based biotechnology company said revenues in the year ending in June jumped 7% from a year ago to £398.5 million from £372.2 million.
Net profit in the quarter soared 40.1% from a year ago to £40.5 million compared to £28.9 million and diluted earnings per share rose to 56.1 pence from 46.4 pence.
Punch Taverns Plc
increased 3.8% to 126.65 pence after the U.K.-based pubs and bars operator said it plans sell 50% stake in beverage wholesaler Matthew Clark to Conviviality Brands for £100.7 million or $154.50 million in cash.
RSA Insurance Group Plc
gained 0.9% to 508.14 pence after the U.K.-based general insurer signed contracts to sell its operations in Latin America to rival Suramericana SA, subsidiary of Colombia''s Grupo de Inversiones Suramericana for about £403 million or $617 million in cash.
The transaction is expected to close by the end of 2016.
slipped 1.2% to €46 after the France-based oilfield services provider secured flexible pipe engineering and installation contract for 9.5 kilometers in offshore East Malaysia from Petronas Carigali Sdn Bhd.
The project is scheduled to complete before the end of this year.