Europe Movers: Air France KLM, Carillion, Esure, Meggitt, QSC

Nigel Thomas
10 Aug, 2015
New York City

Air France passenger count in July increased 2.4% to 8.9 million. Carillion secured

[R]4:00 PM Frankfurt – Air France passenger count in July increased 2.4% to 8.9 million. Carillion secured £4.1 billion UK government service contract. Esure net more than doubled to £98 million. Meggitt agreed to acquire Cobham for $200 million in cash. QSC net loss narrowed.[/R]

In London trading, FTSE 100 index slipped 24.18 or 0.4% to 6,711.15 and in Frankfurt the DAX index gained 103.79 or 0.9% to 11,592.50.

In Paris, CAC 40 index increased 35.73 or 0.7% to 5,191.50.

Air France KLM SA fell 0.3% to €6.43 after the France-based airline reported total number of passengers carried in July jumped 2.4% to 8.9 million on long-haul routes, including discount carrier Transavia.

Total passenger in the network in the month increased 1.3% to 7.6 million and total passengers climbed 9.4% to 1.3 million in Transavia and load factor up 4.4 points.

The airline said total passenger traffic in July increased 2.4% to 8.9 million from a year earlier but load factor in the cargo division in July dropped to 57.8% from 59.3% in a year ago month.

Carillion plc rose 0.3% to 344 pence after the U.K.-based construction services provider was selected by the U.K. government for new facilities management services worth £4.1 billion over the period until July 2019.

Esure Group Plc plunged 9.6% to 239.88 pence after the U.K.-based general insurance company said gross written premium in the first-half ending in June climbed 5.8% to £275.5 million from £260.4 million in a year ago period.

Net profit in the period surged 114.5% from a year ago to £97.6 million compared to £45.5 million and diluted earnings per share jumped to 23.44 pence from 10.93 pence.

Meggitt Plc gained 0.4% to 506.50 pence after the U.K.-based aerospace, defence and energy engineering group agreed to acquire the advanced composites businesses of Cobham Plc for $200 million in cash.

QSC AG slipped 1.4% to €1.94 after the Germany-based communications technology provider reported revenues in the second-quarter ending in June declined 7.8% to €100.9 million from €109.4 million in a year ago period.

Net loss in the quarter narrowed from a year ago to €2.7 million compared to €3.9 million.