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Market Update

U.K. Retailer Next Offered Upbeat Outlook, Ryanair Traffic Soar 10%

Author: Sarla Buch
Last Update: 10:49 AM EST January 03 2018

4:00 PM Frankfurt Addex Therapeutics signed deal with $339 million with Indivior. Deutsche Bank faces new claims for 740 million from its investors. Next lifted fiscal 2017 profit forecast on upbeat Christmas sales. Ryanair December traffic grew 3% and applied for the U.K. domestic routes.

In London trading, FTSE 100 index edged up 6.84 to 7,654.94 and in Frankfurt the DAX index advanced 62.89 or 0.5% to 12,935.35.

In Paris, CAC 40 index increased 24.48 or 0.5% to 5,313.08.

Addex Therapeutics Ltd surged 20.1% to 2.75 Swiss francs after Switzerland-based molecule drugs maker today signed a licensing and collaboration agreement with the U.K.-based specialty pharmaceutical products maker Indivior Plc to develop and commercialize ADX71441 for addiction treatments.

Under the terms, Addex will receive $5 million upfront, $4 million of committed research funding and $330 million of development, regulatory and commercialization milestones and tiered royalties.

Deutsche Bank AG slipped 0.6% to 91.56 after Germany-based financial services provider said on Twitter that more than 30 investors have sued bank for 740 million, claiming they were paid too little for their Postbank shares in 2010

Next Plc jumped 6.6% to 4,797 pence after the U.K.-based clothing and home products retailer lifted fiscal 2017 pretax profit forecast to 725 million from the earlier estimate of 717 million and full price sales increased 1.5% compared to the estimate of 0.3% in November.

Ryanair Holdings Plc jumped 3.1% to 15.46 after Ireland-based ultra-low fare airline operator said in December traffic grew by 3% to 9.3 million passengers and load factor increased 1% to 95% from the same month a year ago.

For fiscal 2017, the airliner said total traffic soared 10% to 129 million from a year ago month.

Separately, today Ryanair said it had applied for a license to operate domestic U.K. air routes.

Wizz Air Holdings Plc fell 0.4% to 3,686 pence after the U.K.-based low-cost airline operator said passenger numbers in December surged 19.8% to 2.25 million from 1.88 million in December 2016 and load factor increased to 87.5% from 87.3%.

The budget airline said total passenger numbers in fiscal 2017 jumped 24.1% to 28.3 million from 22.8 million in 2016 after it adding three new routes from the U.K. and one from Latvia.

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