Telecom Italia Offered

Nigel Thomas
18 Aug, 2014
New York City

Bovis Homes profit soared 168% to

[R]4:00 PM Frankfurt – Bovis Homes profit soared 168% to £39 million. Clarkson net jumped 61% after sales climbed 25% to £112 million. Nationwide Building profit surged 141% to £253 million. Telecom Italia plans to offer up to €7 billion to acquire Vivendi''s Brazilian unit GVT.[/R]

In London trading, FTSE 100 index gained 0.7% or 49.54 to 6,738.62 and in Frankfurt the DAX index climbed 1.4% or 127.99 to 9,220.59.

In Paris, CAC 40 index jumped 1.2% or 51.56 to 4,225.92.

Bovis Homes Group Plc climbed 5.3% to 844 pence after the U.K.-based home builder reported revenue in the first-half ending in June surged 75% to £322.1 million from £184.4 million a year ago period.

Profit in the period soared 168% from a year ago to £38.6 million compared to £14.4 million and diluted earnings per share jumped to 10.80 pence from 28.70 pence.

Clarkson Plc increased 1% to 2,190 pence after the U.K.-based shipping service provider said revenue in the first-half ending in June climbed 25% to £111.7 million from £89.1 million a year ago period.

Profit in the period jumped 60.6% from a year ago to £9.8 million compared to £6.1 million and earnings per share rose to 51.80 pence from 32.20 pence.

Nationwide Building Society closed unchanged at 113 pence after the U.K.-based personal financial service provider said profit in the first-quarter ending in June surged 141% to £253 million compared to £105 million a year ago period.

The lender said gross mortgage lending in the quarter dropped 9.4% to £5.8 billion from £6.4 billion a year earlier.

Telecom Italia SpA rose 0.3% to €0.81 after the Italy-based communications company plans offer up to €7 billion or $9.4 billion to acquire Vivendi''s Brazilian broadband unit GVT.

On August 5, Telefonica SA offered 11.96 billion reais or $5.3 billion in cash and shares in its domestic unit for GVT.

United Internet AG jumped 3.5% to €32.24 after the Germany-based internet service provider agreed to acquire a 10.7% stake in Berlin-based Rocket Internet AG for €435 million.