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Market Update

Technip Abandons CGG Acquisition, Danske Bank Reaffirmed Outlook


Author: Nigel Thomas
ticker.com
Last Update: 11:03 AM ET December 15 2014

4:00 PM Frankfurt Carpetright pre-tax profit surged on 3% increase in revenues. Danske Bank estimated goodwill impairments of about 9 billion kronor. Johnson Matthey agreed to sell its gold and silver refining business to Japan-based Asahi Holdings for 118 million. Technip abandon plans to acquire rival CGG.

In London trading, FTSE 100 index edged down 0.73 to 6,299.90 and in Frankfurt the DAX index rose 0.2% or 23.54 to 9,618.27.

In Paris, CAC 40 index rose 1.19 to 4,110.12.

Carpetright Plc surged 12.4% to 352.19 pence after the floor covering retailer reported group revenues in the first-half ending on October 25jumped 2.6% to 227.9 million form 222.2 million a year ago period.

Pre-tax profit for the period soared 252.6% from a year ago to 6.7 million compared to 1.9 million and earnings per share climbed 7.6 pence from 2.8 pence.

Danske Bank A/S slipped 1.6% to 162.30 kronor after the Denmark-based bank estimated goodwill impairments of about 9 billion kronor in annual report of 2014 and affirmed its net profit guidance for the year between 11.5 billion kronor and 13.5 billion kronor excluding the of goodwill impairments.

Johnson Matthey Plc gained 0.9% to 3.229 pence after the specialty chemicals maker agreed to sell its gold and silver refining business to Japan-based Asahi Holdings Inc for 118 million or $186 million in cash.

Technip SA climbed 3.4% to 47.80 after the France-based engineering and construction service provider abandon plans to acquire rival CGG SA, seismic services provider for about 1.46 billion or $1.83 billion in cash.

The offer of 8.30 per share represented a 27% premium over CGG''s closing price on November 19.

Shares of CGG SA tumbled 30.6% to 4.79.

Separately, today the company signed an agreement with Air Liquide Global E&C Solutions Germany to acquire Zimmer polymer technology business.

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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