Bayer Rise all-cash offer to Monsanto, Swatch Plunges 9%

Sarla Buch
15 Jul, 2016
New York City

Travel and leisure stocks declined after a terrorist attack in Nice, France killed more than 80 people. Bayer raised its all-cash offer for Monsanto Co to $125 per share. Draegerwerk said net sales in the second-quarter declined 6%. Swatch sales to decline 12%.

[R]4:00 PM Frankfurt – Travel and leisure stocks declined after a terrorist attack in Nice, France killed more than 80 people. Bayer raised its all-cash offer for Monsanto Co to $125 per share. Draegerwerk said net sales in the second-quarter declined 6%. Swatch sales to decline 12%.[/R]

European markets closed mixed and indexes in the U.K., Germany and France extended weekly advance.

Travel and tourism stocks came under pressure after another terrorist attack in Nice that killed more than 80 people.

In London trading, FTSE 100 index rose 14.77 or 0.2% to 6,669.24 and in Frankfurt the DAX index slid 12.60 to 10,057.78.

In Paris, CAC 40 index fell 20.88 or 0.5% to 4,364.21.

For the week, FTSE 100 index increased 1.2% and the DAX index surged 4.4% and the CAC 40 index soared 4.2%.

Bayer AG gained 0.4% to €93.84 and the Germany-based chemical and pharmaceutical company raised its all-cash offer for the U.S.-based seed and farm products maker Monsanto Co by $3 to $125 per share or total consideration of about $54.7 billion in cash.

Draegerwerk AG & Co KGaA jumped 5.3% to €55.58 after the Germany-based medical and safety products provider said net sales in the second-quarter ending in June declined 6.3% to €579 million and operating profit slumped 2.3% from a year ago to €21.2 million.

The revenues declined mainly due to weak demand in South America and the Middle East.

Sepura Plc surged 29.1% to 47.11 pence after the U.K.-based broadcasting equipment developer secured contract from New York City Transit worth about $34 million for system design, project management and supply of 40 base stations.

The Swatch Group SA plunged 8.5% to 51.85 Swiss francs after the Switzerland-based watch retailer forecasted net sales in the first-half ending on July 21to decline 12% and operating profit and net income to plunge between 50% and 60%, mainly due to sales decline in Hong Kong and in Europe.