AstraZeneca Acquires Almirall for $2.1 B, Barclays, Bayer, ITV, Net Soar

Nigel Thomas
30 Jul, 2014
New York City

AstraZeneca agreed to acquire Spain-based Almirall for $2.1 billion. Barclays profit soared 68% to

[R]4:00 PM Frankfurt – AstraZeneca agreed to acquire Spain-based Almirall for $2.1 billion. Barclays profit soared 68% to £1.1 billion but revenue plunged 12%. Bayer net climbed 13% to €953 million. ITV profit surged 40% to £250 million. Travis Perkins net jumped 16% to £123 million.[/R]

In London trading, FTSE 100 index fell 0.2% or 12.31 to 6,795.44 and in Frankfurt the DAX index edged up 0.02% or 2.13 to 9,655.76.

In Paris, CAC 40 index slid 0.2% or 9.13 to 4,356.4.

Antofagasta Plc declined 3.2% to 827.50 pence after the U.K.-based Chilean copper mines operator said copper production in second-quarter ending in June jumped 5.5% to 178,800 tons from 169,400 tons in previous quarter.

Gold production in the quarter soared 18% to 67,000 ounces compared to 56,800 ounces in the sequential quarter.

AstraZeneca Plc gained 0.9% to 4,360 pence after the U.K.-based biopharmaceutical company agreed to acquire respiratory medicine business Spain-based Almirall SA for $2.1 billion.

The drug-maker will pay an initial $875 million on completion of the deal and up to $1.22 billion in development, launch, and sales-related milestones.

Shares of Almirall SA climbed 7.4% to €11.55.

Barclays Plc surged 4.8% to 229.65 pence after the U.K.-based financial service provider said sales in the first-half ending in June plunged 12% to£13.38 billion from £15.16 billion a year ago period.

Profit in the period soared 68% from a year earlier to £1.13 billion compared to £671 million and earnings per share jumped to 7 pence from 5 pence.

Bayer AG jumped 2.6% to €102.05 after Germany-based health care company reported sales in the second-quarter ending in June rose 0.9% to €10.46 billion from €10.36 billion a year ago period.

Net income in the quarter climbed 13.3% from a year earlier to €953 million compared to €841 million and earnings per share were €1.53 compared to €1.54 in the quarter a year ago.

As on June, the company said net financial debt increased to €9.9 billion from €9.1 billion in first-quarter ending in March.

ITV Plc fell 0.7% to 203.50 pence after the U.K.-based commercial television network operator said total external revenues in the first-half ending in June climbed 7% to £1.23 billion and total revenues from company studios jumped 2% to £402 million.

Profit in the period surged 40% from a year ago period to £250 million compared to £179 million and diluted earnings per share increased to 4.8 pence from 3.3 pence.

The broadcaster said EBITA before exceptional items climbed 11% to £322 million and broadcast and online EBITA increased 10% to £250 million.

Travis Perkins Plc climbed 2.9% to 1,692 pence after the U.K.-based home improvement retailer reported revenue in the first-half ending in June soared 11% to £2.73 billion from £2.45 billion a year ago period.

Profit in the period climbed 16% from a year earlier to £123.2 million compared to £106.2 million and earnings per share jumped to 50.5 pence from 44.2 pence.