UK Indexes Higher; easyJet Surges 17%, Vodafone Rises

Arthi Gupta
22 Jul, 2011
New York City

The UK indexes traded higher after the euro-zone leaders agreed to support a second bailout program for Greece. Experian agreed to acquire Brazil-based Virid Interatividade Digital Ltda. Vodafone quarterly revenue grew 3.5% to

[R]3:30 PM London – The UK indexes traded higher after the euro-zone leaders agreed to support a second bailout program for Greece. Experian agreed to acquire Brazil-based Virid Interatividade Digital Ltda. Vodafone quarterly revenue grew 3.5% to £11.66 billion.[/R]

Euro-zone leaders on Thursday agreed on a new aid package for Greece that will offer new loans at cheaper interest rates and at extended maturities.

The euro-zone countries and the International Monetary Fund agreed to lend an additional €109 billion with the private financial sector making its own contribution of €50 billion. The package comes in addition to the €110 billion Greece received as part of its first bailout in 2010.

The future loans will be disbursed from the €440 billion rescue fund to Greece from the current 7.5 years to a minimum of 15 years and up to 30 years with a grace period of 10 years.

In London, FTSE 100 Index gained 15.21 or 0.25% to 5,914.90 and the pound edged lower to $1.6280. For the week, the FTSE 100 Index rose 1.25%.

Experian Acquires Virid Interatividade Digital Ltda

Experian, the information services company acquired Virid Interatividade Digital Ltda, a leading email marketing company in Brazil.

The acquisition furthers Experian’s strategy to expand its targeted digital marketing activities globally, and extends the geographic reach of Experian’s email marketing business into the key market of Brazil.

Gainers & Losers

Beazley plc surged 3.78% to 131.70 pence after the insurance business company stated first-half loss was $14.1 million or 2.8 cents per share versus a profit of $97.9 million or 18.1 cents per share in the year earlier period. Net premiums written rose 1.7% to $635.5 million versus $624.7 million a year ago.

Capita Group Plc rose 2.26% to 701.50 pence after the professional support solutions provider said it would acquire the trade and assets of the pensions administration and software business of NorthgateArinso for a consideration of £27.5 million on a cash-free, debt-free basis.

easyJet plc surged 16.63% to 364.70 pence after the low-cost airline said third quarter total revenue surged 23% to £935 million from £759 million a year ago, with a 17.3% increase in the number of passengers and also a 5.1% rise in total revenue per passenger.

Mondi plc climbed 1.39% to 620 pence after the paper and packaging company estimated half year basic earnings per share to be within 38 euro cents to 43 euro cents, and basic headline earnings per share in the range of 37 euro cents to 42 euro cents.

Vodafone Group Plc advanced 1.70% to 164.05 pence after the telecom company said its first quarter revenue grew 3.5% to £11.66 billion from last year. The company reported organic revenue growth of 2.3% for the quarter.

Group service revenue increased 2.6% to £10.86 billion.