Standard Life Sells Canadian business for

Nigel Thomas
04 Sep, 2014
New York City

Bilfinger plunged after revised lowered outlook for third time in three months. Go-Ahead profit surged 55% to

[R]4:00 PM Frankfurt – Bilfinger plunged after revised lowered outlook for third time in three months. Go-Ahead profit surged 55% to £78 million. Immofinanz offer bonds worth €375 million. Parmalat agreed to acquire 11 dairy plants of BRF for €610 million. Standard Life sold its Canadian business for £2.2 billion.[/R]

In London trading, FTSE 100 index increased 0.3% or 18.69 to 6,892.27 and in Frankfurt the DAX index jumped 0.6% or 60.60 to 9,687.09.

In Paris, CAC 40 index climbed 1.7% or 76.60 to 4,498.47.

Bilfinger SE plunged 9.5% to €53.88 after the Germany-based engineering and service group revised its forecast for third time in three months and said an adjusted EBITA from continuing operations for the year of at least €270 million, decline from reported €419 million a year ago.

And, adjusted net profit from continuing operations is expected to about €160 million, decrease from €255 million a year earlier.

Go-Ahead Group Plc jumped 3.2% to 2,345 pence after the U.K.-based passenger transport service provider reported revenue in the year ending on June 28 jumped 5.1% to £2.70 billion from £2.57 billion a year ago period.

Profit in the year surged 55.2% from a year ago to £77.6 million compared to £50 million and diluted earnings per share climbed to 162.4 pence from 106.6 pence.

Immofinanz AG slid 0.04% to €2.47 after the Austria-based real estate developer reduced its stake in spun-off Buwog AG and offer bonds worth €375 million or $493 million priced with a coupon of 1.5% per year and exchange premium of 15%.

Parmalat SpA rose 0.3% to €2.53 after the Italy-based food and beverages maker agreed to acquire 11 dairy division plants owned by Brazil-based BRF SA for €610 million or $801.9 million.

Standard Life Plc climbed 6.2% to 410.10 pence after the U.K.-based savings and investments group agreed to sell its Canadian business for £2.2 billion or C$4 billion in cash and will returned £1.75 billion to shareholders.

Supergroup Plc surged 11.1% to 1,162.50 pence after the U.K.-based apparel and accessories retailer said group revenue in the first-quarter ending on July 26 15.9% to £87 million and retail revenue soared 13.6% to £60.4 million from a year ago.

The retailer added revenue in the quarter from wholesale division surged 21.6% to £26.6 million from a year ago period.