Worldpay Receives

Sarla Buch
04 Jul, 2017
New York City

SKF faced legal challenge from Daimler AG. Sainsbury sales increased 2.7%. Ryanair passenger traffic in June jumped 12%. Stada said Bain and Cinven are preparing for a revised takeover offer. Worldpay surged after Vantiv and JPMorgan offered

[R]4:00 PM Frankfurt – SKF faced legal challenge from Daimler AG. Sainsbury sales increased 2.7%. Ryanair passenger traffic in June jumped 12%. Stada said Bain and Cinven are preparing for a revised takeover offer. Worldpay surged after Vantiv and JPMorgan offered £7.9 billion.[/R]

In London trading, FTSE 100 index slid 7.10 to 7,369.99 and in Frankfurt the DAX index edged up 0.26 to 12,475.57.

In Paris, CAC 40 index fell 13.01 or 0.3% to 5,182.71.

AB SKF slumped 1.6% to SKK169.10 after Sweden-based ball bearings maker was sued by Daimler AG following a settlement with the European Union antitrust regulators.

The company and ball bearing makers settled to pay €953 million for participating in price fixing scandal. Daimler in the law suit requested €59 million for the damages linked to the ball bearing price fixing and interest and other charges.

SKF said in a statement that it intends to fight the claim.

J Sainsbury Plc gained 1.2% to 251.90 pence after the U.K.-based supermarkets and convenience stores operator said total retail sales in the 16-weeks ending on July 1 increased 2.7% excluding fuel and comparable retail sales jumped 2.3% from 0.3% in the previous three months.

Grocery sales increased 3% and transactions grew 1.9%.

The retailer said it is on track to open 135 Argos Digital stores in its supermarkets by the end of fiscal 2017. The company also reaffirmed operating profit of £160 million from the Argos acquisition by March 2019.

Online sales continue to rise at Argos, as online sales advanced 10% and Argos Fast Track delivery soared 36% and collections surged 64%. Apparel sales jumped 7%.

Ryanair Holdings Plc gained 1.3% to €18.35 after the Ireland-based discount airline operator said passenger traffic jumped 12% to 11.8 million customers in June and load factor increased 2 percentage points to 96%.

Stada Arzneimittel AG advanced 2.3% to €63.91 after Germany-based healthcare products maker said Bain Capital and Cinven are waiting for regulatory permission to launch new takeover offer of €5.3 billion.

Worldpay Group Plc surged 28.4% to 410.20 pence after the U.K.-based online and mobile payment services provider confirmed that it had received unsolicited takeover bid from the U.S.-based credit cards processor Vantiv Inc and investment banker JPMorgan Chase for about £7.9 billion.

However, Worldpay said that there is no certainty that an offer will be made or what the offer terms would be.