Europe Earnings: AstraZeneca, BAE, Deutsche Bank, G4S, Uralkaliy

Nigel Thomas
20 Dec, 2013
New York City

AstraZeneca agreed to buy diabetes-treatment business from Bristol-Myers for $4.1 billion. BAE confirmed

[R]3:40 PM Frankfurt – AstraZeneca agreed to buy diabetes-treatment business from Bristol-Myers for $4.1 billion. BAE confirmed £6 billion deal for 60 Euro-fighter with UAE has not concluded. Deutsche Bank agreed to pay $1.9 billion to settle the mortgage-backed securities claims.[/R]

In London trading, FTSE 100 index gained 0.4% or 25.81 to 6,611 and in Frankfurt the DAX index jumped 0.6% or 59.80 to 9,396.

In Paris, CAC 40 index rose 0.2% or 10.59 to 4,188.

AstraZeneca Plc increased 0.6% to 3,621.50 pence after the U.K.-based biopharmaceutical company agreed to acquire diabetes-treatment business of U.S.-based Bristol-Myers Squibb for up to $4.1 billion.

BAE Systems Plc declined 4.5% to 421.81 pence after the U.K.-based aerospace and defense group said the agreement of £6 billion or $9.8 billion deal with United Arab Emirates for 60 Euro-fighter Typhoon has not been finalized.

Deutsche Bank AG gained 1.2% to €33.94 after the investment bank agree to pay €1.4 billion or $1.9 billion to settle the claims for not submitting adequate disclosure of mortgage-backed securities sold to Fannie Mae and Freddie Mac before the onset of financial crisis.

G4S Plc rose 0.04% to 249 pence and the U.K.-based security service provider faces new fraud investigations from regulators for second time in six months.

The government said Serco agreed to refund £68.5 million pounds or $110 million on its tagging contract but G4S had not yet agreed a position on repayment.

Uralkaliy OAO jumped 2.7% to 175.44 ruble after the Russia-based chemical maker said revenue in the third-quarter ending in September declined 19% to $856 million from $1.06 billion a year ago period.

Uralkali and Sberbank OJSC signed an agreement to open a non-revolving $2 billion credit line to use as a reserve facility for refinancing existing loans according to their repayment schedules.