4:00 PM Frankfurt – Bouygues net swung to profit after the telecom unit added more subscribers. Ocado surged on a technology deal with the U.S.-based The Kroger Co. Telecom Italia net jumped on a steady increase in mobile service subscribers. Suedzucker profit fell as sugar prices continued to drift lower.
In London trading, FTSE 100 index advanced 46.54 or 0.6% to 7,781.74 and in Frankfurt the DAX index jumped 102.19 or 0.8% to 13,098.28.
In Paris, CAC 40 index increased 38.15 or 0.7% to 5,605.69.
fell 0.9% to €41.15 after France-based industrial conglomerate reported sales in the first-quarter ending in March were flat from a year ago at €6.8 billion.
Net in the quarter swung to profit €12 million from a loss of €41 million in a year ago period.
In the quarter, Bouygues Telecom added 453,000 net new customers which helped the company increase its margin to 23.9% from 22.3% in a year ago period.
Ocado Group Plc
surged 50.2% to 276.94 pence after the U.K.-based online grocery retailer today signed a partnership agreement with the U.S.-based largest independent grocery retailer The KrogerCo. Under the license, Kroger will use Ocado''s technology in its grocery and other food-distribution activities.
As part of the agreement, Kroger will subscribe up to 33.1 million new shares or 5% stake in the Ocado, at a value of £183 million.
Telecom Italia SpA
fell 0.4% to € 0.77 after Italy-based telephony and mobile services provider said total revenues in the first-quarter ending in March rose 0.6% from a year ago to €4.7 billion.
Net profit in the quarter jumped 8% to €216 million from €200 million in a year ago period.
The communication services provider said domestic mobile active customers increased 1.7% to 27.4 million users.
fell 1.6% to €14.31 after Germany-based sugar producer reported revenues in the year ending in March soared 7.8% from a year ago to €6.9 billion.
Net profit in the quarter dropped 4% to €205.1 million from €213.6 million in a year ago period and diluted earnings per share decreased to €1 from €1.05.
The sugar refiner said profit was hurts by steep decline in sugar prices and plans to exports to compensate the losses.
The sugar producer forecasted fiscal 2019 revenues between €6.8 billion and €7.1 billion and operating profit in the range of €100 million to €200 million.