Europe Earnings: Aggreko, BP, Carrefour, Glaxo, Renault, Telecom Italia

Nigel Thomas
16 Dec, 2013
New York City

Aggreko forecasted net debt to reduce about

[R]3:40 PM Frankfurt – Aggreko forecasted net debt to reduce about £200 million. BP signed 30-year deal with Oman-based Khazzan for $16 billion. Carrefour will buy shopping malls for €2 billion from Klepierre. Glaxo will invest $1 billion to raise its stake in Indian Unit.[/R]

In London trading, FTSE 100 index climbed 1.3% or 82 to 6,522 and in Frankfurt the DAX index jumped 1.9% or 169.37 to 9,176.

In Paris, CAC 40 index increased 1.5% or 61.53 to 4,121.

Aggreko Plc surged 7.7% to 1,633 after the U.K.-based power and temperature control solution provider reported group revenues for the year is expected to be flat at £1.57 billion and profit-before-tax and amortization is expected at £335 million. Net debt is expected to reduce by about £200 million from a year earlier.

The company was also selected as the supplier of temporary power for 2014 FIFA World Cup and the Glasgow 2014 Commonwealth Games.

BP Plc rose 1.5% to 472.45 pence after the oil and gas explorer signed 30-year gas production and sales sharing deals to develop Oman-based Khazzan gas project at an investment of about $16 billion.

Carrefour SA increased 1.4% to €27.55 after the France-based hypermarket operator said it will buy a portfolio of European shopping malls for €2 billion or $2.76 billion from Klepierre SA, France-based real estate developer.

Deutsche Telekom AG climbed 4.6% to €11.88 after the report Sprint Corp. could bid for its U.S.-based T-Mobile unit.

Separately, the Germany-based mobile company received €200 million loan from the European Investment Bank to finance broadband investment.

GlaxoSmithKline Plc gained 1.1% to 1,588.50 pence after the healthcare group plans to invest $1 billion to raise its stake from 50.7% to up to 75% in its Indian pharmaceutical unit.

Gottex Fund Management Holdings Limited soared 8% to 2.43 francs after the Switzerland-based investment company agreed to acquire EIM Group to grow its asset base to $10 billion by first-half 2014.

Renault SA rose 0.02% to €57.05 and France-based carmaker signed an equal ownership agreement with China-based Dongfeng Motor Group Co in Wuhan to build sport utility vehicles and invest $1.3 billion.

Telecom Italia SpA climbed 5.4% to €0.698 and the company confirmed it had not received any information from the U.S.-based BlackRock related to its increase in stake to 10.14% as shown by the U.S. regulatory filings.

Italian regulator Consob may fine BlackRock Inc. for not informing the company about the stake increase.