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Market Update

Ted Baker Net Surges 24%, LVMH Jumps on 4% Revenue Increase

Author: Sarla Buch
Last Update: 11:36 AM ET October 11 2016

4:00 PM Frankfurt Airbus won an order of 50 helicopters from Poland. Infineon Technologies agreed to buy the Netherland-based chip maker Innoluce. LVMH said revenues jumped 4%. Ted Baker jumped after revenues and profit soared. Victrex said group revenues surged.

In London trading, FTSE 100 index fell 20.42 or 0.3% to 7,077.40 and in Frankfurt the DAX index decreased 8.43 to 10,615.25.

In Paris, CAC 40 index slid 6.12 to 4,490.59.

Airbus Group SE dropped 2% to 53.25 after the Netherlands-based aerospace and defense products maker confirmed an order for 50 Caracals valued at 13.5 billion zloty or $3.5 billion.

Airbus Helicopters agreed to compensate gross value for the 23% value added tax and meet the requirements laid by the Polish government.

Separately, the aerospace and defense products maker plans to slow the assembly rate of its A380 to one aircraft per month from 2018.

Infineon Technologies AG slipped 1.2% to 16.01 after Germany-based chip maker agreed to acquire the Netherland-based fabless semiconductor maker Innoluce BV without disclosing financial terms.

LVMH Moet Hennessy Louis Vuitton SE soared 5.6% to 165.95 after France-based luxury goods maker reported total revenues in the nine-months ending in September jumped 4% from a year ago to 26.3 billion.

Luxury goods maker said revenues in wines and spirits business advanced 7% to 3.3 billion and revenues in perfumes and cosmetics segment surged 8% to 3.6 billion.

LVMH said revenues in selective retailing increased 6% to 8.3 billion and revenues in fashion and leather goods rose 2% to 9 billion.

Ted Baker Plc surged 5.6% to 2,551 pence after the U.K.-based lifestyle products retailer said group revenues in the first-half ending on August 13 soared 14.4% from a year ago to 259.5 million.

Net income in the period jumped 24.4% from a year ago to 16.3 million compared to the 13.1 million and diluted earnings per share increased to 36.6 pence from 29.4 pence.

The retailer said retail sales including online sales jumped 13.6% and wholesale sales advanced 16.7% and online sales soared 29.7%.

Victrex Plc advanced 8.7% to 1,763 pence after the U.K.-based polymers producer said group revenues in the second-half ending in September soared 8% from a year ago to 73.7 million but revenues in the full-year declined 4% to 252.3 million.

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