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Market Update

RWE in Deal with 5 B Stakes Sell; Intertek Net Plunges


Author: Nigel Thomas
ticker.com
Last Update: 11:37 AM ET March 02 2015

4:00 PM Frankfurt British Land acquired Surrey Quays Leisure Park in Canada Water for 135 million. Dialight profit and revenues surged. Intertek net plunged 12% to 190 million. Novartis and Glaxo completed a series of asset swaps. RWE completed the sale of its unit for about 5 billion.

In London trading, FTSE 100 index fell 0.3% or 19.85 to 6,926.81 and in Frankfurt the DAX index slid 0.2% or 21.91 to 11,379.75.

In Paris, CAC 40 index dropped 0.9% or 47.06 to 4,904.42.

British Land Company Plc gained 1.7% to 843 pence after the U.K.-based retail parks and shopping center developer today acquired Surrey Quays Leisure Park in Canada Water for 135 million from clients of Aviva Investors.

Dialight Plc climbed 3.2% to 681.90 pence after the U.K.-based lighting fixture maker said revenue in the year ending in December soared 22% to 159.8 million from 131.2 million a year ago period.

Net profit in the year surged 13.1% from a year ago to 9.5 million compared to 8.4 million and diluted earnings per share jumped to 29.2 pence from 25.9 pence.

Intertek Group Plc increased 1.5% to 2,567 yen after the quality and safety solution provider reported revenues in the year ending in December dropped 4.2% to 2.09 billion from 2.18 billion a year ago period.

Net profit in the year plunged 12.3% from a year ago to 190.4 million compared to 217 million and diluted earnings per share slumped to 108.8 pence from 123 pence.

Novartis AG rose 0.1% to 97.60 Swiss francs after the Switzerland-based healthcare company and GlaxoSmithKline Plc completed a series of asset swaps worth more than $20 billion.

RWE AG slipped 1.2% to 24.68 after the Germany-based electricity and gas provider completed the sale of its unit RWE Dea AG for about 5 billion or $5.61 billion to an energy-investment fund tycoon Mikhail Fridman.

Sonova Holding AG rose 1.4% to 134 Swiss francs after the Switzerland-based hearing aid maker signed an agreement to acquire 100% of the shares of Hansaton Akustik GmbH for an undisclosed amount.

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