Lloyds Lowered Stake in TSB, TOTAL Divests Stake in Cardinal Gas

Nigel Thomas
26 Sep, 2014
New York City

Asian Citrus Holdings net swung to a loss of

[R]4:00 PM Frankfurt – Asian Citrus Holdings net swung to a loss of £174.2 million on 24% decline in revenue. De La Rue tumbled on lowered outlook. Kuka plans to buy Swisslog Holding for 339 million francs. Lloyds sells £161 million worth TSB Shares. Total divest 25% stake in Cardinal Gas.[/R]

In London trading, FTSE 100 index edged up 0.05% or 3.61 to 6,643.32 and in Frankfurt the DAX index slipped 0.3% or 28.67 to 9,481.34.

In Paris, CAC 40 index jumped 0.7% or 28.62 to 4,383.90.

Asian Citrus Holdings Limited declined 3.9% to 13.20 pence after the Hong Kong-based agricultural industry said revenue in the year ending in June plunged 24.2% to £120.4 million from £158.8 million a year ago period.

Net in the year swung to a loss from a year ago to £174.2 million compared to profit of £12.2 million and basic loss per share swung to 14 pence from earnings per share of 1 penny.

De La Rue Plc tumbled 32% to 516 pence after the U.K.-based currencies notes printer forecasted underlying operating profit and underlying pretax-profit for the year may drop by £20 million from a year ago.

The company added contractual price reductions and deteriorating trading conditions may drag earnings in the current and next year.

Kuka AG slid 0.2% to €47.40 after Germany-based industrial robots maker plans to buy Switzerland-based logistics company Swisslog Holding AG for about 339 million francs or $358 million.

Lloyds Banking Group Plc rose 0.4% to 76.54 pence after the U.K.-based financial services company sold 57.5 million ordinary shares in TSB Banking Group Plc at a price of 280 pence per share worth £161 million or $262.5 million.

Total SA gained 1.5% to €50.31 after the oil and gas explorer signed an agreement to sell its 25% interest in Cardinal Gas Services LLC, a mid-stream company located in Utica shale formation in Ohio, U.S.A., to Korea-based E1 Corporation and a consortium for $450 million.