Europe Movers: BP, Eni, Telford Homes, Thomas Cook, United Utilities

Arthi Gupta
28 Nov, 2012
New York City

BP agreed to sell package of central North Sea assets to Taqa for $1.1 billion. Smith & Nephew agreed to acquire Healthpoint Biotherapeutics for $782 million. Swiss Life estimates net profit in double-digit millions and Thomas Cook loss widens for the full year.

[R]12:30 PM Frankfurt – BP agreed to sell package of central North Sea assets to Taqa for $1.1 billion. Smith & Nephew agreed to acquire Healthpoint Biotherapeutics for $782 million. Swiss Life estimates net profit in double-digit millions and Thomas Cook loss widens for the full year.[/R]

Banco Bilbao Vizcaya Argentaria S.A. dropped 1.6% to €6.31 after the Spanish financial group agreed to sell its complete stake in Mexico''s Administradora de Fondos para el Retiro Bancomer S.A. De C.V. to Afore XXI Banorte S.A. for $1.6 billion.

BP plc edged higher 0.04% to 431.40 pence after the oil and gas explorer agreed to sell its interests in a number of central North Sea oil and gas fields to TAQA for $1.058 billion plus future payments.

Eni S.p.A. increased 0.4% to €17.88 after the Italian energy explorer raised €1.409 billion or $1.82 billion from the sale of shares and convertible bonds in Portuguese energy company Galp Energia SGPS S.A.

Novartis AG rose 0.4% to Sfr56.80 and the healthcare solutions provider said it will highlight more than 140 presentations on key data from its oncology portfolio at the year-end scientific meetings devoted to hematology and breast cancer.

Smith & Nephew plc declined 1.1% to 651.50 pence after the medical technology business agreed to acquire Healthpoint Biotherapeutics for $782 million in cash.

Swiss Life Holdings AG declined 1.6% to Sfr123.30 after the life insurer estimates net profit in double-digit millions for the full year.

Telford Homes plc surged 6.7% to 185.45 pence after the property developer reported first-half revenue rose to £78.32 million compared with £58.6 million for the year-ago period. Pre-tax profit for the period surged to £6.5 million from £1.5 million a year earlier.

Thomas Cook Group plc fell 3.1% to 23.38 pence after the tour operator reported full year revenue dropped 3% to £9.49 billion. Loss for the year widened to £585.9 million or 67.2 pence per diluted share from £520.7 million or 60.7 pence per share last year.

United Utilities Group Plc climbed 1.7% to 680.36 pence after the water company reported first-half revenue increased to £822.9 million from £792.7 million in the prior-year period. Profit after tax climbed to £153.9 million from £140.8 million last year.

Vp Plc dipped 0.5% to 334.25 pence after the equipment rental provider reported first-half revenues rose 2% to £84.02 million. Pre-tax profit for the period rose to £10.54 million from £10.05 million last year.