Aviva Receives EC Approval, Holcim Rejects

Nigel Thomas
16 Mar, 2015
New York City

Antofagasta may close it Chile-based Los Pelambres project after a court ruling. Eni signed an agreement with Egypt to invest as much as $5 billion. Aviva received regulatory approval for Friends Life. Holcim rejected

[R]4:00 PM Frankfurt – Antofagasta may close it Chile-based Los Pelambres project after a court ruling. Eni signed an agreement with Egypt to invest as much as $5 billion. Aviva received regulatory approval for Friends Life. Holcim rejected €42 billion merger proposal from Friends Life.[/R]

In London trading, FTSE 100 index gained 0.6% or 41.42 to 6,782 and in Frankfurt the DAX index climbed 1.7% or 206.91 to 12,108.52.

In Paris, CAC 40 index jumped 0.8% or 39.51 to 5,049.97.

Antofagasta Plc edged up 0.1% to 699 pence and the U.K.-based copper miner is likely to close it Chile-based Los Pelambres project after a court ruling required the company to destroy a tailings dam wall.

Eni SpA dropped 2.4% to €15.20 after the Italy-based oil and gas explorer signed an extension agreement of permits with the Egyptian government to invest $5 billion in next five-years.

Friends Life Group Ltd gained 1.1% to 418 pence after the European Commission approved Aviva Plc''s proposed acquisition of smaller rival worth about £5.6 billion.

Holcim Ltd slipped 1.1% to Sfr74.64 after the Switzerland-based cement and building materials producer rejected the terms of a proposed €42 billion merger proposal by the French rival Lafarge.

Shares of Lafarge SA declined 4.6% to €62.01.

Klepierre SA rose 0.08% to €44.24 after the France-based shopping center developer agreed to acquire Madrid-based Plenilunio, shopping centre of about 70,000 square meters with gross value of €375 million.