Europe Earnings: Aviva, easyJet, FirstGroup, Intertek, Ted Baker

Nigel Thomas
03 Oct, 2013
New York City

Aviva sold its U.S. unit for

[R]4:00 PM Frankfurt – Aviva sold its U.S. unit for £1.7 billion. easyJet lifted its fiscal outlook. FirstGroup plans to extend the U.K. rail contract up to 2015 and will pay £32.5 million. GlaxoSmithKline reached agreement to sell its thrombosis brands. Intertek to acquire Global X-Ray & Testing valued £45 million in cash.[/R]

In London trading, FTSE 100 index gained 0.3% or 21.58 to 6,459 and in Frankfurt the DAX index slid 0.2% or 16.27 to 8,613.

In Paris, CAC 40 index slipped 0.6% or 23.56 to 4,135.

Aviva Plc gained 1.6% to 413.90 pence after the UK based insurance company completed the sale of its US life and annuities business Aviva USA Corporation to Athene Holding Ltd. for £1.7 billion or $2.6 billion. The agreed final price is higher by $800 million announced in December.

easyJet Plc slid 0.7% to 1,304 pence after the UK based budget airline expects revenue in the first-half ending in September to grow nearly 6%.and raised its full-year pre-tax profit forecast between £470 million and £480 million compared to previous guidance of £450 million to £480 million.

FirstGroup Plc jumped 2.2% to 123.40 pence after the UK based transportation company said it plans to keep its Great Western Main Line franchise and agree to pay £32.5 million for additional two years and projected like-for-like passenger revenue to increase 1.6%.

In the first-half FirstGroup said comparable passenger revenue at its U.K. rail division is expected to jump 5.7% but in U.S. revenue from Greyhound buses are expected to drop 2.4%.

For the period, U.K. rail business accomplished solid performance with comparable passenger revenue likely to grow by 5.7%.

GlaxoSmithKline Plc increased 1.6% to 1,571 pence after the UK based healthcare group reached agreement to sell its thrombosis brands and Notre-Dame de Bondeville manufacturing site in France to The Aspen Group for $1.14 billion.

Intertek Group Plc slipped 1.9% to 3,204 pence after the U.K. based analytical product tester provider agreed to acquire Louisiana-based offshore mechanical testing products provider Global X-Ray & Testing Corporation for £45 million in cash.

Sports Direct International Plc slipped 1.9% to 694.50 pence after the sports goods retailer said Chief Executive Officer Dave Forsey and Group Finance Director Bob Mellors, granted to reduce their stake of 0.01% stakes or 950,000 shares worth £13 million at a price of 680 pence per share.

Ted Baker Plc decreased 0.8% to 1,904 pence after the U.K. based men and women wear retailer said group revenue in the first-half ending in August surged 30.9% to £155.2 million and pre-tax profit climbed 24.3% to £11.6 million.

Retail sales in the quarter soared 30.2% on 12.4% more space and wholesale sales in the period advanced 33.4%.

William Hill Plc fell 0.2% to 410.30 pence after the U.K. based gambling company said net revenue from mobile gaming surged 126%. Retail football staking in the quarter soared 27% and group net revenue grew 10%. Group operating profit declined 31% to £24 million.