Potash Corp Offers

Nigel Thomas
26 Jun, 2015
New York City

K&S received

[R]4:00 PM Frankfurt – K&S received €7.8 billion buyout proposal from the Canada-based Potash Corp. IGAS Energy net swung to profit. Rosneft profit soared 30% to 56 billion rubles. Tesco first-quarter sales decreased 1%. Trinity Mirror forecasted first-half revenues to decline 11%.[/R]

In London trading, FTSE 100 index slipped 0.5% or 30.81 to 6,782.01 and in Frankfurt the DAX index rose 0.5% or 62.78 to 11,535.91.

In Paris, CAC 40 index gained 0.9% or 43.71 to 5,085.42.

For the week, FTSE 100 index increased 1.1% and in Frankfurt the DAX index jumped 4.5%.

In Paris, CAC 40 index soared 5.7%.

IGAS Energy Plc slipped 1.7% to 31.20 pence after the onshore hydrocarbons producer said revenues in the year ending in March plunged 23.3% to £58.2 million form £75.9 million in a year ago period.

Net in the year swung to profit from a year ago to £5.2 million compared to a loss of £7.9 million and diluted earnings per share to 2.08 pence from diluted loss per share of 4.10 pence.

K&S AG surged 25.7% to 36.57 after the Germany-based chemical producer agreed to be acquired by Canada-based fertilizer producer Potash Corporation of Saskatchewan Inc for about €7.8 billion or $8.74 billion or €40 per share in cash.

NK Rosneft'' OAO, the Russia-based state oil company reported sales revenues in the first-quarter dropped 6.3% to 1.29 trillion rubles from 1.38 trillion rubles in a year ago period.

Net income in the quarter soared 30.2% from a year ago to 56 billion rubles compared to 43 billion rubles.

Tesco Plc jumped 3.7% to 225.30 pence after the supermarket chain operator said group sales in first-quarter decreased 1% and comparable store sales dropped 1.3% while volumes increased 1.4% and transaction in the quarter gained 1.3% from a year ago period.

Trinity Mirror Plc slumped 4.5% to 152 pence after the news and entertainment provider estimated revenues in the first-half ending on June 28 to decline 11% and publishing revenue to fall 9% and revenues from print segment to drop 11% while revenues from digital business to surge 26%.