Europe Movers: Carrefour, Suedzucker, Vedanta

Nigel Thomas
10 Apr, 2015
New York City

Carrefour said first-quarter sales soared 6% to

[R]4:00 PM Frankfurt – Carrefour said first-quarter sales soared 6% to €21 billion. Majestic Wine plans to acquire Naked Wines International Ltd for £70 million. Suedzucker revenues declined 9% to €6.8 billion and operating profit tumbled 71% to €180 million. Vedanta said daily oil production declined 4%.[/R]

In London trading, FTSE 100 index jumped 0.8% or 57.67 to 7,073.03 and in Frankfurt the DAX index climbed 1.4% or 170.30 to 12,336.74.

In Paris, CAC 40 index increased 0.3% or 16.64 to 5,225.59.

Carrefour SA gained 1.8% to €32.67 after the France-based hyper and supermarkets operator reported sales in the first-quarter ending in March soared 6.2% to €21 billion from a year ago period.

The retailer said domestic sales in the quarter jumped 3.6% to €9.56 billion and sales in international region climbed 8.4% to €11.45 billion from a year ago period.

Majestic Wine Plc increased 1.9% to 323.50 pence after the U.K.-based alcoholic beverage retailer plans to acquire Naked Wines International Ltd for £70 million in a cash-and-stock deal.

Suedzucker AG plunged 7.8% to €32.67 after the Germany-based agricultural raw materials maker said revenues in the year ending in February declined 9.3% to €6.8 billion from €7.5 billion a year ago period.

Operating profit in the year tumbled 71.1% from a year ago to €180 million compared to €622 million.

The sugar maker forecasted fiscal 2015 revenues to decline to between €6 billion and €6.3 billion and operating profit to decrease in the range of €50 million to €150 million.

Despite the difficult business environment, the company confirmed operating profit for the first-half of about €550 million.

Vedanta Resources Plc declined 3.5% to 520 pence after the U.K.-based and India focused diversified natural resources company said fourth-quarter gross production of oil and gas decreased 4% to 215,553 barrels of oil equivalent per day from 224,429 in the previous year.

Average gross production for fiscal 2015 dropped 3% from a year ago to 211,670 boepd.