Market Updates

Volatile European Markets, Abengoa in $9.5 B Deal with EIG Global

Nigel Thomas
06 Jan, 2015
New York City

    Abengoa and EIG Global Energy Partners sign an agreement to invest $9.5 billion in renewable energy projects. Churchill China climbed 7% after positive outlook. TomTom agreed to deliver maps to Volkswagen.

[R]4:00 PM Frankfurt – Abengoa and EIG Global Energy Partners sign an agreement to invest $9.5 billion in renewable energy projects. Churchill China climbed 7% after positive outlook. TomTom agreed to deliver maps to Volkswagen.[/R]

In London trading, FTSE 100 index rose 0.2% or 14.32 to 6,431.48 and in Frankfurt the DAX index increased 0.9% or 83.77 to 9,556.93.

In Paris, CAC 40 index gained 0.4% or 17.73 to 4,129.09.

Abengoa SA soared 7.9% to €2.38 after the Spain-based engineering company and the U.S.-based energy and infrastructure investor EIG Global Energy Partners signed an agreement to invest in conventional power plants and renewable energy projects.

EIG Global Energy will take a majority stake in the project that requires total investment of about $9.5 billion.

Churchill China Plc climbed 6.8% to 592.50 pence after the U.K.-based ceramic products maker forecasted operating performance for the year will be ahead of market estimates and significantly higher than the prior year.

TomTom NV surged 9.3% to €5.79 after the Netherlands-based navigation and mapping product supplier agreed to deliver maps to Volkswagen AG as the automaker plans to launch in-dash navigation system.

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