European Markets Rebound, Vivendi Increase Dailymotion Stake

Nigel Thomas
02 Sep, 2015
New York City

Ashtead profit surged 36% on 26% increase in revenues. Halfords plunged after comparable bicycles and accessories sales declined 11%. Ryanair said passenger count in August surged 10%. Vivendi increased stake in Dailymotion to 90%.

[R]4:00 PM Frankfurt – Ashtead profit surged 36% on 26% increase in revenues. Halfords plunged after comparable bicycles and accessories sales declined 11%. Ryanair said passenger count in August surged 10%. Vivendi increased stake in Dailymotion to 90%.[/R]

In London trading, FTSE 100 index jumped 74.48 or 1.2% to 6,130.80 and in Frankfurt the DAX index gained 82.68 or 0.8% to 10,097.89.

In Paris, CAC 40 index increased 52.49 or 1.2% to 4,593.65.

Ashtead Group Plc soared 6.4% to 976 pence after the U.K.-based equipment-rental company said group revenues in the first-quarter ending in July soared 26% from a year ago to £618.6 million from £457.9 million.

Net profit in the quarter surged 36.3% from a year ago to £101.8 million compared to £74.7 million and diluted earnings per share jumped to 20.2 pence from 14.8 pence.

Halfords Group Plc tumbled 8.9% to 464.30 pence after the U.K.-based auto and cycling products retailer said comparable sales in bicycles and accessories segment declined 11% while sales in passenger car maintenance segment jumped 7.3% from in the eight weeks to August 28.

Ryanair Holdings Plc gained 2.6% to €12.43 after the Ireland-based low-cost airline said its passenger numbers for August surged 10% to 10.4 million from 9.4 million in the same period a year ago and load factor increased 2 percentage points to 95% from 93% in a year ago month.

The airliner forecasted revenues for the year ending in March 2016 to jump 12% to €5.7 billion and net profit to soar 65.8% to €867 million from €523 million a year ago period.

Vivendi SA gained 1.2% to €27 after the France-based media company increased its stake in video-streaming website Dailymotion by 10% to 90% for about €27 million from Orange SA.