4:00 PM Frankfurt – Hannover Re lifted fiscal lifted fiscal 2018. Nestle agreed to distribute Starbucks packaged products in retail stores in a $7.2 billion deal.
In London trading, FTSE 100 index increased 64.45 or 0.9% to 7,567.14 and in Frankfurt the DAX index advanced 132.18 or 1% to 12,952.79.
In Paris, CAC 40 index rose 12.98 or 0.2% to 5,529.03.
surged 17.8% to 179.90 Danish kronor after Denmark-based diagnostic and life-supporting equipment maker said revenues in the second-quarter ending in March soared 6.2% from a year ago to 651 million kronor.
Net income in the quarter jumped 9.5% to 92 million kronor from 84 million kronor in a year ago period and diluted earnings per share rose to 0.37 kronor from 0.35 kronor.
Ambu said increasing in revenues and profit was driven by strengthening of Danish kronor and euro relative to the U.S. dollar.
The life-supporting equipment maker lifted fiscal 2018 revenues forecast in local currencies to between 14% and 15% from the earlier estimate of 13%.
Hannover Re SE
increased 1.2% to €118.80 after Germany-based reinsurance services provider reported group written premium in the first-quarter ending in March surged 17.4% from a year ago to €5.3 billion.
Net profit in the quarter soared 4.5% to €299.4 million from €286.4 million in a year ago period and diluted earnings per share increased to €2.27 from €2.20.
The insurer forecasted fiscal 2018 gross premium to increase more than 10% and forecasted net income to exceed €1 billion.
gained 1.6% to 77.58 Swiss francs after Switzerland-based food and beverage maker sign an agreement with coffee chain Starbucks Corp to sell Starbuck’s coffee products including rights to sell packaged coffee products in supermarkets, restaurants and catering operations for about $7.15 billion.
The deal will accelerate the distribution of Starbucks branded and packed products in retail stores and combine the premium Starbucks coffee with the global distribution of Nestle.
Nestle stock has struggled in the year and activist investors have been demanding a shakeup of the management. Nestle has lagged in the U.S. market with coffee sales and trailed at the fifth position with 5% market share according to industry research reports.