Straumann Acquires India Based Dental Implants Maker, Persimmon Net Surges

Sarla Buch
23 Aug, 2016
New York City

Kier Group secured three major contracts worth about

[R]4:00 PM Frankfurt – Kier Group secured three major contracts worth about £5 billion. Persimmon net and revenues surged. Rank Group profit was flat on weak revenues. Straumann, Switzerland based medical devices maker agreed to acquire India-based dental implant maker Equinox.[/R]

European markets advanced on corporate news and commodities drifted lower on the back of weakness in oil prices.

In London trading, FTSE 100 index jumped 52.14 or 0.8% to 6,880.90 and in Frankfurt the DAX index increased 37.55 0.9% to 10,427.49.

In Paris, CAC 40 index advanced 36.93 or 0.8% to 4,426.87.

Kier Group Plc soared 5.1% to 1,250 pence after the U.K.-based construction services provider secured three major frameworks contracts worth about £5 billion or $6.6 billion for its construction division.

Persimmon Plc jumped 4.4% to 1,873 pence after the U.K.-based home builder reported revenues in the first-half ending in June soared 12% from a year ago to £1.5 billion.

Net income in the period surged 19.4% from a year ago to £283 million compared to the £237 million and diluted earnings per share advanced to 89.2 pence from 75.6 pence.

Rank Group Plc gained 0.7% to 223 pence after the U.K.-based gaming and betting services provider stated group revenues in the year ending in June rose 2% from a year ago to £708.5 million.

Net income in the year was nearly flat from a year ago to £74.7 million compared to the £74.8 million and diluted earnings per share were flat at 19.1 pence from a year ago period.

Straumann Holding AG rose 1.2% to 404.25 Swiss francs after the Switzerland-based medical devices maker reported revenues in the first-half ending in June soared 15% from a year ago to 461.2 million francs.

Net in the period swung to profit from a year ago to 134.9 million francs from a loss of 1.5 million francs and diluted earnings per share swung to 8.52 francs from a diluted loss per share of 0.10 francs.

Separately, today the medical devices maker agreed to acquire India-based fast-growing dental implant maker Equinox without disclosing financial terms.

The deal is expected to close in the next three months.

UniCredit SpA surged 6.1% to €2.08 after Reuters report that Poland''s largest insurer PZU is in talk to buy its Poland''s second-largest bank Bank Pekao SA from its major shareholder and the Italy-based bank.