Barclays Faces UK Fines, TNT Express Tumbles

Nigel Thomas
24 Sep, 2014
New York City

Arrow Global agreed to acquire Capquest for

[R]4:00 PM Frankfurt – Arrow Global agreed to acquire Capquest for £158 million. Barclays agreed to pay find of about £38 million. Nobia sell Hygena unit for €20 million in cash. Royal Bank of Scotland priced its IPO for Citizens Financial at $21.5 per share. TNT Express tumbled on weak outlook.[/R]

In London trading, FTSE 100 index slid 0.1% or 6.21 to 6,669.87 and in Frankfurt the DAX index edged down 0.04% or 3.96 to 9,591.07.

In Paris, CAC 40 index rose 0.3% or 15.26 to 4,374.61.

Arrow Global Group Plc climbed 4.3% to 262 pence after the U.K.-based debt purchaser agreed to buy Capquest, a consumer debt manager from TowerBrook Capital Partners for about £158 million.

Barclays Plc fell 0.9% to 227.15 pence after the U.K.-based lender agreed to pay £38 million or $62 million to Britain’s market regulator after failing to protect £16.5 billion of client assets between November 2007 and January 2012.

Nobia AB surged 14.2% to 62.25 after the Sweden-based kitchen products maker received an offer for loss-making kitchen chain Hygena to France''s Fournier for €20 million in cash.

Royal Bank of Scotland Group Plc slid 0.2% to 357.15 pence after the bank confirmed priced for the initial public offering for Citizens Financial Group at $21.5 per share.

TNT Express NV tumbled 10.4% to €5.03 after the Netherlands-based express delivery company lowered its profit forecast for the fiscal 2015 and the company blamed to deteriorated trading conditions in Europe and competitive pressures.

The parcel company estimated adjusted operating margin from Europe and Americas segments of about 8%.