Altice Offers

Nigel Thomas
03 Nov, 2014
New York City

Altice offered to acquire PT Portugal for

[R]4:00 PM Frankfurt – Altice offered to acquire PT Portugal for €7 billion. HSBC net climbed 7% and set aside total £367 million to cover potential regulatory fines. Holcim net declined 5% to 447 million Swiss francs. Publicis agreed to acquire Sapient for $3.7 billion. Ryanair profit surged 32% to €795 million.[/R]

In London trading, FTSE 100 index dropped 0.7% or 42.90 to 6,503.57 and in Frankfurt the DAX index slumped 0.6% or 56.97 to 9,270.08.

In Paris, CAC 40 index dropped 0.7% or 29.12 to 4,203.97.

Altice SA fell 1.3% to €48.99 after the France-based pay television and broadband service provider offered to acquire Portuguese-based PT Portugal from Brazil-based owner Oi SA for €7.03 billion or $8.8 billion.

HSBC Holdings Plc slipped 1.8% to 627.70 pence after the banking and financial service provider reported revenue in the third-quarter ending in September jumped 5% to $15.78 billion from $15.08 billion a year ago period.

Profit in the quarter climbed 7.2% from a year ago to $3.43 billion compared to $3.20 billion and diluted earnings per share rose to 17 cents from 16 cents.

The bank set aside of £237 million to cover potential fines from the investigation by the UK Financial Conduct Authority and also set aside £130 million for PPI related compensation claims.

Holcim Ltd declined 2.6% to 66.35 francs after the Switzerland-based cement maker said net sales in the nine-month ending in September dropped 2.1% to 5.18 billion francs from 5.29 billion francs a year ago period.

Net income in the quarter declined 4.7% from a year ago to 447 million Swiss francs compared to 469 million francs and diluted earnings per share slumped to 1.37 francs from 1.44 francs.

Publicis Groupe SA dropped 2.4% to €53.96 after the France-based advertising company agreed to acquire the U.S.-based Sapient Corporation, the technology consultation provider for $25 per share or $3.7 billion in cash.

Ryanair Holdings Plc surged 8.9% to €8.27 after the Ireland-based low-cost airline company said total revenues in the first-half ending in September soared 9% to €3.54 billion from €3.25 billion a year ago period.

Profit in the period surged 32% from a year ago to €795 million compared to €602 million and diluted earnings per share increased to 57.29 cents from 41.85 cents.