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Market Update

Modest 2017 Rise in European Markets, Airbus Signs $50 B Orders from Indigo

Author: Sarla Buch
Last Update: 11:27 AM EST December 29 2017

4:00 PM Frankfurt Airbus secured 430 Airbus A320neo order from India-based Indigo worth $50 billion. Banco BPM exceeds the capital requirements set by the European Central Bank and envisages the disposal of 8 billion of non-performing loans by 2019. Glencore sells oil storage unit stake to a Chinese firm.

In London trading, FTSE 100 index jumped 64.89 or 0.9% to 7,687.77 and in Frankfurt the DAX index slipped 62.30 or 0.5% to 12,917.64.

In Paris, CAC 40 index slid 6.44 to 5,332.98.

For the week, FTSE 100 index jumped 2.8%, the DAX index slumped 1.5% and the CAC 40 index fell 0.4%.

For the month, FTSE 100 index soared 4.1%, the DAX index slipped 1.1% and the CAC 40 index dropped 1.3%.

For the quarter, FTSE 100 index advanced 4.41%, the DAX index rose 0.7% and the CAC 40 index slid 0.1%.

For the year, FTSE 100 index jumped 8.1%, the DAX index surged 12.8% and the CAC 40 index soared 10.2%.

Airbus SE fell 0.3% to 83.67 after the Netherlands-based aerospace and defense products maker said it won a record order for 430 jets worth $50 billion from four carriers linked to a U.S. private-equity firm.

China Aircraft Leasing Group Holdings Limited had signed a firm order for 50 A320neo Family aircraft.

The aircraft lessor AerCap holdings N.V. had signed a firm agreement to buy 50 additional aircraft.

This transaction brings AerCap''s firm orders for the A320neo Family aircraft to a total of 270.

Airbus said it has orders from 97 customers for more than 5,400 aircrafts and A320neo Family has captured nearly 60% share of the market.

Banco BPM S.p.A, the Italy-based banking and financial services provider said it completed the disposal of Aletti Gestielle SGR S.p.A for about 700 million to Anima Holding S.p.A.

Anima Holding S.p.A will offer new shares to the existing shareholders worth about up to 300 million under the Italian Civil Code.

The bank said it exceeds the capital requirements which are set by the European Central Bank.

On December 19, the lender sold its two unsecured bad loan portfolios for about 1.8 billion and this will be finalized on December 31 and under the de-risking program as part of the 2016-2019 the bank envisages the disposal of 8 billion of non-performing loans by 2019.

Glencore Plc gained 1.2% to 390 pence after Switzerland-based commodities miner and trader said it completed the stake sale of 51% in its petrol storage and logistics businesses to China-based HNA Innovation Finance.

The deal was originally announced in March.

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