Europe Movers: Burberry, Carrefour, Glencore, ING, RBS, S

Arthi Gupta
11 Oct, 2012
New York City

ING agreed to sell its insurance operations in Malaysia to AIA for

[R]2:00 PM Frankfurt – ING agreed to sell its insurance operations in Malaysia to AIA for €1.3 billion. Glencore completed the purchase of 18.91% ownership interest in Kazzinc. Burberry first-half total revenue rose 6% to £883 million.[/R]

Accenture plc fell 1.2% to $69.55 after the outsourcing company was awarded a five year contract from the Norwegian Directorate of Health to build and implement electronic health record system.

Burberry Group plc soared 9.7% to 1,100 pence after the luxury-goods maker said first-half total revenue rose 6% to £883 million compared to £830 million in the prior year.

Carrefour SA gained 3.7% to €16.58 after the French retailer reported third quarter group sales, including value added tax rose 2.1% to €22.63 billion on growth in emerging markets, notably Latin America.

Fraport AG rose 0.4% to €44.51 after the aviation hub operator processed around 5.36 million passengers in September at its Frankfurt base, an increase of 52,000 passengers or 1% compared to September 2011.

The number of aircraft movements decreased 0.7% to 42,214 takeoffs and landings during September.

Glencore International Plc climbed 0.5% to 335.50 pence after the commodities producer and marketer completed the purchase of 18.91% ownership interest in Kazzinc LLP from Verny Investments in consideration for the issue of 176.74 million new ordinary shares of the company and cash consideration of $400 million.

ING Groep NV increased 2.2% to €6.52 after the Dutch lender agreed to sell its insurance operations in Malaysia to Hong Kong based AIA Group for €1.3 billion comprising of its life insurance and employee benefits business, as well as its 60% stake in ING Public Takaful Ehsan Berhad.

Südzucker AG gained 1.5% to €28.32 after the sugar producer reported first-half revenues climbed to €3.917 billion from €3.338 billion in the prior year. Group operating profit increased to €562 million from €347 million last year.

The Royal Bank of Scotland Group plc advanced 1.3% to 266.10 pence after the lender announced the pricing of the initial public offering of Direct Line Insurance Group plc with the offer price of 175 pence per ordinary share or market capitalization of £2.625 billion.