Accor to Acquire FRHI Hotels; Airbus, Barclays, BNP Paribas, IAG Net Soar

Nigel Thomas
30 Oct, 2015
New York City

AB InBev net tumbled 28%. Airbus net jumped 36% and the aircraft maker plans to sell its remaining stake in Dassault Aviation by the end of next year and buyback

Accor to Acquire FRHI Hotels; Airbus, Barclays, BNP Paribas, IAG Net Soar

[R]4:00 PM Frankfurt – AB InBev net tumbled 28%. Airbus net jumped 36% and the aircraft maker plans to sell its remaining stake in Dassault Aviation by the end of next year and buyback €1 billion of its shares. BNP Paribas net rose 15% and announced a restructuring charge of £2 billion. IAG net surged 70%. Renault revenues jumped 9%.[/R]

In London trading, FTSE 100 index slipped 53.38 or 0.8% to 6,342.43 and in Frankfurt the DAX index rose 32.58 or 0.3% to 10,834.74.

In Paris, CAC 40 index edged up 4.17 to 4,889.99.

For the week, FTSE 100 index decreased 1.5% and the DAX index added 0.4% and the CAC 40 index slid 0.7%.

For the month, FTSE 100 index jumped 4.7% and the DAX index surged 12.1% and the CAC 40 index soared 9.7%.

Anheuser Busch Inbev SA gained 0.9% to €108.50 after the Belgium-based brewing company reported revenues in the third-quarter ending in September jumped 7.9% from a year ago to $11.38 billion.

Net profit in the quarter tumbled 28% from a year ago to $1.67 billion compared to $2.32 billion and diluted earnings per share dropped to $1.02 from $1.42.

Airbus Group SE soared 4.4% to €63.64 after the France-based aerospace and defense products maker said revenues in the nine-month period ending on September advanced 6% from a year ago to €42.97 billion.

Net profit in the quarter jumped 36% from a year ago to €1.90 billion compared to €1.40 billion and diluted earnings per share increased to €2.42 from €1.79.

The aviation company plans to sell its remaining stake of 23.4% in Dassault Aviation by the end of next year, finance director Harald Wilhelm said.

Separately the company approved share buyback program for up to €1 billion between 2 November 2015 and 30 June 2016.

Accor SA dropped 2.3% to €45.01 and the France-based luxury hotels operator planning to buy Canada-based FRHI Hotels & Resorts for about $3 billion, the Wall Street Journal reported.

BNP Paribas SA increased 1.1% to €54.88 after the France-based banking and financial services provider reported revenues in the third-quarter ending in September soared 8.5% from a year ago to $10.35 billion.

Net profit in the quarter surged 14.5% from a year ago to $1.83 billion compared to $1.60 billion and diluted earnings per share soared to $1.02 from $1.42.

Barclays Plc slumped 2.7% to 230.85 pence after the U.K.-based financial services provider said revenues in the third-quarter ending in September fell 3% from a year ago to £19.09 billion.

Net profit in the quarter surged 14% from a year ago to £2.94 billion compared to £2.59 billion and diluted earnings per share rose to 17.9 pence from 16.1 pence.

The bank set aside £290 million to compensate for selling inappropriate foreign exchange products and also plans to spend £500 million during fiscal 2017 and 2018 in placing additional procedures and safeguarding measures in place.

Barclays will also spend £1 billion to protect its U.K.-based retail customers from selling higher-risk products.

International Consolidated Airlines Group SA declined 2.9% to 580 pence after the Spain-based airline and the parent of British Air reported total revenues in the nine-month period ending in September jumped 13% from a year ago to €17.12 billion.

Net profit in the period surged 70% from a year ago to €1.18 billion compared to €694 million and diluted earnings per share increased to 57.1 pence from 33.4 pence.

IAG lifted operating profit forecast for the year to a range between €2.25 billion and €2.3 billion from the earlier estimate of €2.2 billion.

Total passenger numbers in the quarter soared 17.7% to 27.56 million and passenger revenue in the period jumped to €15.26 billion from a year ago period.

Renault SA soared 5% to €85.67 after the France-based auto maker said group revenues in the third-quarter ending in September jumped 9.4% from a year ago to €9.34 billion and automotive revenue surged 10.2% to €8.80 billion.