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Market Update

Svenska Cellulosa Receives $22 B Offer, Carrefour Brazil Lifts Group Results

Author: Sarla Buch
Last Update: 11:44 AM ET April 13 2017

4:00 PM Frankfurt Carrefour said revenues jumped after sales in Brazil soared. SinnerSchrader profit surged 58%. Sodexo lifted revenues forecast. Sainsbury restructure 60 Argos and 10 Habitat stores. Svenska Cellulosa received an offer of $22 billion from a consortium of private equity funds.

In London trading, FTSE 100 index decreased 28.54 or 0.4% to 7,320.45 and in Frankfurt the DAX index slumped 79.68 or 0.4% to 12,103.02.

In Paris, CAC 40 index dropped 34.48 or 0.7% to 5,066.63.

Bauer AG jumped 3.7% to 14.65 after Germany-based construction and machinery equipment maker said total group revenues in the year ending in December declined 4.2% from a year ago to 1.6 billion.

Net profit in the year plunged 50.3% from a year ago to 14.4 million from 29 million and earnings per share increased to 1.73 from 0.66.

For fiscal 2017, the machinery equipment maker forecasted total group revenues of about 1.7 billion and profit in the range of 23 million to 28 million and operating profit of about 75 million.

The company estimated total revenues to grow between 3% and 8% in the next few years.

Carrefour SA slipped 0.3% to 21.19 after France-based convenience stores, supermarkets and discount stores operator said sales in the first-quarter ending in March jumped 6.2% from a year ago to 21.3 billion.

Comparable sales in the quarter advanced 5.9%.

The retailer said sales in the domestic markets increased 0.8% to 9.4 billion while sales in the international markets surged 10.9% to 11.9 billion and revenue in Brazil jumped 38% and comparable sales increased 5.6%.

Mediclinic International Plc advanced 3.5% to 762 pence after the U.K.-based healthcare provider said its largest two platforms, Switzerland, Southern Africa and Dubai, U.A.E. performed in-line with expectations.

However, as previously announced, the Abu Dhabi, U.A.E. unit performance was impacted by a major regulatory change as well as certain operational challenges.

Mediclinic said revenues in Switzerland-based Hirslanden segment in the year ending in March increased 3.5% from a year ago to 1.7 billion francs and operating profit was in the 20% range.

For the year ending in March, revenues in the Middle East region declined 8%.

SinnerSchrader AG fell 0.4% to 9.35 after Germany-based digital communication services provider reported net revenues in the first-half ending in February rose 4% from a year ago to 13.3 billion.

Net profit in the period surged 58% from a year ago to 897 million from 566 million and earnings per share increased to 0.08 from 0.05.

Separately, yesterday the digital agency said Accenture Plc had completed the acquisition of majority stake of 62% and from April 2017, SinnerSchrader will be a part of Accenture Interactive.

Sodexo SA slid 0.1% to 112.50 after France-based on-site personal and home services provider said revenues in the first-half ending in February rose 0.4% from a year ago to 10.6 billion.

Net profit in the period fell 3.1% from a year ago to 348 million from 359 million and diluted earnings per share dropped to 2.29 from 2.33.

Sodexo estimated revenues in the full-year to increase between 4% and 7% and operating profit in the range of 8% and 10%.

J Sainsbury Plc rose 0.2% to 258.30 pence after the U.K.-based banking and supermarkets and convenience stores operator plans to convert 60 Argos general merchandise stores to digital format and open 10 more Habitat outlets in fiscal 2018.

The retailer said it plans to open 250 new locations in the next three years.

Svenska Cellulosa AB surged 8.5% to 304 Swedish kronor after the Swedish newspaper Dagens Nyheter said a group of private equity firms intends to acquire hygiene and forest products provider for about 200 billion kronor or $22 billion.

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