EDF Lowered 2017 Outlook, Actelion One Step Closer to CHMP Approval

Sarla Buch
16 Dec, 2016
New York City

Actelion jumped after the European regulatory advisory committee issued positive opinion for the treatment of T-cell lymphoma. EDF lowered profit outlook for fiscal 2017. Johnston Press agreed to sell its unit to Iliffe News and Media.

[R]4:00 PM Frankfurt – Actelion jumped after the European regulatory advisory committee issued positive opinion for the treatment of T-cell lymphoma. EDF lowered profit outlook for fiscal 2017. Johnston Press agreed to sell its unit to Iliffe News and Media.[/R]

In London trading, FTSE 100 index gained 21.45 or 0.3% to 7,021.38 and in Frankfurt the DAX index rose 35.43 or 0.3% to 11,402.28.

In Paris, CAC 40 index added 12.62 or 0.3% to 4,831.85.

For the week, FTSE 100 index increased 0.9%, the DAX index advanced 1.8% and the CAC 40 index jumped 1.4%.

Actelion Limited jumped 8.7% to 215 Swiss francs after Switzerland-based biopharmaceutical group said the scientific committee of the European Medicines Agency issued a positive opinion for the use of chlormethine gel 160 micrograms/g for the treatment of T-cell lymphoma in adult patients and recommended that the European Commission approves the product.

The stock declined yesterday after Johnson & Johnson decided not to proceed with the acquisition of Actelion.

However, France-based drug-maker Sanofi is in advanced talks to buy Swiss rival with offer price of about $275 per share.

Balfour Beatty Plc gained 0.5% to 271.90 pence after the U.K.-based infrastructure services provider awarded contract worth about £35 million to start first phase of redevelopment of The Royal National Orthopedic Hospital in North London.

Electricite de France SA fell 0.3% to €9.75 after France-based electricity producer reaffirmed operating profit in the fiscal 2016 in the range of €16 billion to €16.3 billion.

EDF lowered its operating profit forecast in fiscal 2017 and may fall as much as 12% from a year ago to between €13.7 billion and €14.3 billion.

The power supplier maintained its target for positive cash flow in the fiscal 2018.

Johnston Press Plc surged 17% to 13.46 pence after the U.K.-based debt laden newspapers publisher agreed to sell its unit Johnston Publishing East Anglia Ltd to family-owned publisher Iliffe News and Media Ltd for £17 or $21.13 million in cash.

Monarch Airlines Limited, Reuters said the U.K.-based privately held low-fare cargo and airline services provider reaffirmed its forecast for annual earnings, after what it called a challenging year during which its majority shareholder had to provide it with a £165 million or $205 million of capital.

Trinity Mirror Plc soared 7.7% to 90.50 pence after the U.K.-based multimedia content publisher forecasted group revenue in the fourth-quarter to drop 8% compared to the decline of 9% in the third quarter and the drop of 8% in the first-half.

However, the publisher said net debt in the year to fall about £35 million, which is significantly better than expectations but print advertising and circulation revenues are estimated to plunge 17% and 5% respectively.

Separately, the media company said November was a record month for Mirror Online, exceeded 92 million monthly unique viewers, helping Trinity Mirror’s national digital portfolio to a record month with over 100 million unique visitors.