Deutsche Boerse to Buy 360T Beteiligungs, UBS Profit Surge

Nigel Thomas
27 Jul, 2015
New York City

European markets traded lower and commodities reached multi-year low. Deutsche Boerse agreed to buy 360T Beteiligungs for

[R]4:00 PM Frankfurt – European markets traded lower and commodities reached multi-year low. Deutsche Boerse agreed to acquire 360T Beteiligungs for €725 million. Pearson is in talks to sell its stake in The Economist Group. Ryanair profit surged 24.4%. TNT Express revenues jumped 6%. UBS profit soared 72% to 3.2 billion francs.[/R]

European markets traded lower and metals and crude prices dropped to a new low in the year as China slow down looms and the U.S. dollar continues its advance.

In London trading, FTSE 100 index fell 44.92 or 0.7% to 6,534.84 and in Frankfurt the DAX index slumped 229.35 or 2% to 11,119.26.

In Paris, CAC 40 index dropped 97.24 or 1.9% to 5,960.02.

Deutsche Boerse AG slipped 1% to €83.28 after the Germany-based stock exchange operator agreed to acquire domestic foreign exchange trading platform 360T Beteiligungs GmbH for €725 million or $796 million.

Pearson Plc declined 4% to 1,170.25 pence after the U.K.-based media company confirmed that the company is in talk with The Economist Group Board and trustees regarding the potential sale of 50% stake in the group.

Ryanair Holdings Plc slipped 0.9% to 12.16 after the Ireland-based low-cost airline company said revenues in the first-quarter ending in June climbed 10% to €1.65 billion from €1.50 billion in a year ago period.

Net profit in the quarter surged 24.4% form a year ago to €245.1 million compared to €196.8 million and diluted earnings per share increased to €17.81 from €14.18.

TNT Express NV fell 0.9% to €7.67 after the Netherlands-based express delivery services provider reported revenues in the second-quarter ending in June jumped 6.2% to €1.76 billion from €1.66 billion in a year ago period.

Net loss in the quarter narrowed form a year ago to €1 million compared to €4 million and diluted loss per share dropped to €0.2 from €0.7.

UBS AG dropped 2.1% to 21.20 Swiss francs after the Switzerland-based financial services provider reported revenues in the first-half ending in June climbed 15.6% to 16.66 billion francs form 14.41 billion francs in a year ago period.

Net profit in the quarter soared 72.4% from a year ago to 3.19 billion francs compared to 1.85 billion francs and diluted earnings per share jumped to 0.85 francs from 0.48 francs.