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Market Update

Telecom Italia Offered 7 B for GVT in Brazil


Author: Nigel Thomas
ticker.com
Last Update: 10:09 AM ET August 18 2014

4:00 PM Frankfurt Bovis Homes profit soared 168% to 39 million. Clarkson net jumped 61% after sales climbed 25% to 112 million. Nationwide Building profit surged 141% to 253 million. Telecom Italia plans to offer up to 7 billion to acquire Vivendi''s Brazilian unit GVT.

In London trading, FTSE 100 index gained 0.7% or 49.54 to 6,738.62 and in Frankfurt the DAX index climbed 1.4% or 127.99 to 9,220.59.

In Paris, CAC 40 index jumped 1.2% or 51.56 to 4,225.92.

Bovis Homes Group Plc climbed 5.3% to 844 pence after the U.K.-based home builder reported revenue in the first-half ending in June surged 75% to 322.1 million from 184.4 million a year ago period.

Profit in the period soared 168% from a year ago to 38.6 million compared to 14.4 million and diluted earnings per share jumped to 10.80 pence from 28.70 pence.

Clarkson Plc increased 1% to 2,190 pence after the U.K.-based shipping service provider said revenue in the first-half ending in June climbed 25% to 111.7 million from 89.1 million a year ago period.

Profit in the period jumped 60.6% from a year ago to 9.8 million compared to 6.1 million and earnings per share rose to 51.80 pence from 32.20 pence.

Nationwide Building Society closed unchanged at 113 pence after the U.K.-based personal financial service provider said profit in the first-quarter ending in June surged 141% to 253 million compared to 105 million a year ago period.

The lender said gross mortgage lending in the quarter dropped 9.4% to 5.8 billion from 6.4 billion a year earlier.

Telecom Italia SpA rose 0.3% to 0.81 after the Italy-based communications company plans offer up to 7 billion or $9.4 billion to acquire Vivendi''s Brazilian broadband unit GVT.

On August 5, Telefonica SA offered 11.96 billion reais or $5.3 billion in cash and shares in its domestic unit for GVT.

United Internet AG jumped 3.5% to 32.24 after the Germany-based internet service provider agreed to acquire a 10.7% stake in Berlin-based Rocket Internet AG for 435 million.

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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