E.ON Completes Uniper Spin-off, Linde Terminates Merger Talk with Praxair

Sarla Buch
12 Sep, 2016
New York City

Associated British Foods said Primark annual sales are expected to increase 9%. E.ON completed the Uniper SE spin-off. Fraport passenger traffic in August fell 5%. Hannover Re forecasted profit in the year of

[R]4:00 PM Frankfurt – Associated British Foods said Primark annual sales are expected to increase 9%. E.ON completed the Uniper SE spin-off. Fraport passenger traffic in August fell 5%. Hannover Re forecasted profit in the year of €950 million. Linde terminated merger talks with the U.S.-based Praxair.[/R]

In London trading, FTSE 100 index declined 76.64 or 1.1% to 6,700.31 and in Frankfurt the DAX index slumped 147.61 or 1.4% to 10,425.29.

In Paris, CAC 40 index dropped 58.50 or 1.3% to 4,432.90.

Associated British Foods Plc declined 10.8% to 2,815 pence after the U.K.-based diversified international food, ingredients retailer said group''s U.K. pension scheme deficit in the year ending on September 17 of about £200 million compared to small surplus in the same period a year ago.

The group forecasted Primark annual sales to increase 9% from a year ago.

E.ON SE tumbled 14% to €7.01 after the Germany-based energy services provider today completed the Uniper SE spin-off as planned and began trading on the Frankfurt stock exchange for the first time.

Fraport Frankfurt Airport Services Worldwide AG slumped 2% to €49.96 after the Germany-based airport services provider said total passengers traffic in August declined 5% to 6 million from a year ago month.

Hannover Rueck SE fell 0.9% to €92.52 after the Germany-based reinsurance services provider forecasted net income in the year of about €950 million and gross premium volume to be stable or slightly decline in 2016.

Linde AG plunged 7.6% to €137.55 after Germany-based industrial gas maker said it has terminated preliminary merger talks with the U.S.-based Praxair Inc on possible merger that could create a company with the combined market cap of $60 billion.