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Market Update

Total Invests 3.8 B in Iranian Gas Field, Vivendi in 2.4 B Deal with Havas

Author: Sarla Buch
Last Update: 10:35 AM ET July 03 2017

4:00 PM Frankfurt Danone to sell its U.S.-based unit Stonyfield for $875 million. EDF lifted Hinkley Point completion cost to 20 billion. Total signs 3.8 billion deal with Iran for its South Pars gas field. Vivendi had acquired 60% stake in Havas SA for 2.4 billion.

In London trading, FTSE 100 index jumped 37.08 or 0.5% to 7,349 and in Frankfurt the DAX index advanced 117.27 or 0.9% to 12,441.84.

In Paris, CAC 40 index soared 60.27 or 1.2% to 5,180.95.

Danone SA gained 0.8% to 66.34 after France-based juice and yogurts maker today said that it had entered into a binding agreement to sell its U.S.-based subsidiary Stonyfield to domestic rival Group Lactalis for $875 million.

The transaction is expected to close in the third-quarter of this year.

Electricite de France SA slid 0.1% to 9.47 after the France-based electricity producer and distributor said that the cost of completion of the Hinkley Point nuclear power plant in the U.K. may jump by 1.5 billion to 19.6 billion and estimated rate of return also may drop to 8.5% from the initially forecasted to 9%.

The electricity producer said first reactor estimated to be operational in 2025 will now be delayed by 15 months and the second unit launch may be delayed up to nine months.

NMC Health Plc declined 4.5% to 2,088 pence after the U.K.-based healthcare services provider in the United Arab Emirates said that its shareholder Centurion Investments had increased the stake by 4.9% at a price of 2,320 pence per share from Dr B R Shetty.

Severn Trent Plc fell 0.3% to 2,176 pence after the U.K.-based water services provider agreed to sell its North American business for about 48 million or $62 million to PPC Enterprises LLC and Alston Capital Partners LLC.

Total SA advanced 1.9% to 44.11 after the Iranian state controlled gas field Petropars signed an agreement with consortium led by France-based oil and gas producer and the state-owned China National Petroleum worth about 3.8 billion or $5 billion to develop its South Par gas field, including 30 wells and two production units.

The deal is first with a European oil company in more than a decade since the lifting of the international economic sanctions.

Vivendi SA increased 1.4% to 19.75 after France-based media and publishing services provider agreed to acquire 60% stake in the domestic rival Havas SA from Bollore SA for about 2.36 billion or $3.1 billion and may acquire the entire company before the end of this year.

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