European Indexes Extended Quarterly Gains, Santander Offered Upbeat Outlook

Sarla Buch
30 Sep, 2016
New York City

Banco Santander offered positive outlook for the next two years but fell short of expectations. Canada based Fiera Capital agreed to buy London-based Charlemagne Capital for

[R]4:00 PM Frankfurt – Banco Santander offered positive outlook for the next two years but fell short of expectations. Canada based Fiera Capital agreed to buy London-based Charlemagne Capital for £41 million. QinetiQ signed an 11-year contract extension with the U.K. Ministry of Defence.[/R]

European markets in choppy session extended weekly, monthly and quarterly gains.

In London trading, FTSE 100 index slipped 32.52 or 0.5% to 6,887.19 and in Frankfurt the DAX index rose 22.07 or 0.2% to 10,428.27.

In Paris, CAC 40 index decreased 16.34 or 0.3% to 4,429.99.

For the week, FTSE 100 index slid 0.3%, the DAX index slumped 1.9% and the CAC 40 index dropped 1.4%.

For the month, FTSE 100 index gained 1%, the DAX index declined 2.2% and the CAC 40 index fell 0.7%.

For the quarter, FTSE 100 index soared 5.9%, the DAX index surged 7.7% and the CAC 40 index jumped 4.5%.

Banco Santander, S.A declined 2.4% to €3.86 after Spain-based retail and commercial bank reaffirmed earnings per share to increase in single digit in 2016 and 2017 and in double digits and increase dividend by 2018.

Santander said total number of customers are expected to increase to 18.5 million by 2018 and the number of digitally active customers from 15 million in 2015 to 30 million in 2018.

Charlemagne Capital Limited surged 15.8% to 13.90 pence after Fiera Capital Corporation, Canada-based investment advisor, agreed to buy the asset manager for 14 pence per share or £40.7 million in cash.

Charlemagne was established in 2000 and its assets under management jumped 9.9% to $2.1 billion from January 2016 at the end of June.

Separately today, Charlemagne Capital said revenues in the first-half ending in June plunged 22.9% from a year ago to $9.1 million.

Net in the period swung to a loss from a year ago to $0.9 million compared to the profit of $3.3 million and diluted loss per share swung to a 0.47 cents from diluted earnings per share of 0.94 cents.

QinetiQ Group Plc fell 0.5% to 235 pence after the U.K.-based defense and aerospace products maker signed an 11-year contract extension worth about £109 million with the U.K. Ministry of Defence to develop and de-risk Royal Navy mission systems and its infrastructure.

Vislink Plc tumbled 45.2% to 8.77 pence after the U.K.-based broadcasting equipment maker said revenues in the first-half ending in June declined 15% from a year ago to £22.6 million.

Net loss in the period widened from a year ago to £32.8 million compared to £0.5 million and diluted loss per share increased to 26.9 pence from 0.4 pence.