Market Updates
Europe Earnings: easyHotel, Go-Ahead, Quintain Estates, Smiths Group
Nigel Thomas
23 May, 2014
New York City
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easyHotel plans to raise
[R]4:00 PM Frankfurt – easyHotel plans to raise £60 million in an IPO for expansion of business in London and Europe. Go-Ahead jumped after the U.K. government awarded seven-year rail franchise with Keolis. Quintain Estates net swung to profit £53 million. Smiths Group lowered third-quarter net outlook.[/R]
In London trading, FTSE 100 index fell 0.3% or 19.91 to 6,800.65 and in Frankfurt the DAX index gained 0.2% or 20.99 to 9,741.90.
In Paris, CAC 40 index rose 0.08% or 3.78 to 4,481.99.
easyHotel Plc, the U.K.-based budget hotels operator said it plans to raise up to £60 million in an IPO for expansion of business in London and Europe.
Go-Ahead Group Plc climbed 8.3% to 2,100 pence after the U.K. government awarded seven-year rail franchise for London and South East of England in a joint-venture with the French transport company Keolis.
Quintain Estates and Development Plc jumped 2.8% to 94.56 pence after the U.K.-based property investment company said revenue in the year ending in March dropped to £32.6 million from £39.5 million a year ago.
Net in the year swung to profit £52.9 million compared to a loss of £40.9 million and diluted earnings per share swung to 10.2 pence from a loss of 7.9 pence a year earlier.
Smiths Group plc slid 0.7% to 1,305 pence after the U.K.-based diversified engineering company lowered its profit outlook for the year to £25 million.
The company also lowered its underlying revenue outlook in the third-quarter ending on May 3 slightly weaker than a year earlier.
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