Valeant Sells Brands to L'Oreal; Big Yellow, Just Eat, Phoenix in Focus

Sarla Buch
10 Jan, 2017
New York City

Big Yellow said revenues in the third-quarter jumped 7%. L''Oreal agreed to buy three skin care brands from Valeant Pharma. The insurer Phoenix cash flow exceeded the target. Total SA increased its stake in Uganda oil field.

[R]4:00 PM Frankfurt – Big Yellow said revenues in the third-quarter jumped 7%. L''Oreal agreed to buy three skin care brands from Valeant Pharma. The insurer Phoenix cash flow exceeded the target. Total SA increased its stake in Uganda oil field.[/R]

In London trading, FTSE 100 index gained 30.10 or 0.4% to 7,267.43 and in Frankfurt the DAX index edged up 4.51 to 11,568.50.

In Paris, CAC 40 index edged down 0.14 to 4,887.43.

Big Yellow Group Plc gained 0.7% to 714 pence after the U.K.-based self-storage services provider said revenues in the third-quarter ending in December jumped 7% from a year ago to £27.4 million and comparable store sales increased 5%.

Just Eat Plc declined 5.8% to 549.50 pence after the U.K.-based online food delivery service provider reported online orders declined 36% in the year ending in December.

Orders in its Mexican and Australian businesses soared 42% after surging 57% in 2015 while orders rose 31% in the U.K.

L''Oreal SA fell 0.9% to €169.90 and France-based cosmetic products maker agreed to buy three skin care brands AcneFree, Ambi and CeraVe from Valeant Pharmaceuticals Inc for about $1.3 billion in cash.

Phoenix Group Holdings rose 0.6% to 757.50 pence after the U.K.-based insurance provider said cash generation from operating companies increased to £486 million, more than the targeted between £350 million and £450 million.

SGL Carbon SE slipped 1.7% to €8.67 after Germany-based carbon and graphite producer agreed to sell its carbon fiber production site in the Illinois State, U.S. to Mitsubishi Rayon Carbon Fibers & Composites Inc., a unit of the U.S.-based Mitsubishi Rayon Corporation, without disclosing financial terms.

The transaction is expected to close in April 2017.

Total SA increased 0.4% to €48.29 after France-based oil and gas producer agreed to buy additional stake of 21.57% in the Albert oil project in Uganda held by Tullow Oil for $900 million.

Following the transaction, Total will hold a stake of 54.9%.

Trinity Mirror Plc stock closed flat at 97.50 pence after the U.K.-based media group said that it is in preliminary talks with privately-owned rival newspaper group Northern & Shell that owns the Daily Express, Sunday Express and the Daily Star publications.