Aviva Jumps on

Sarla Buch
27 Nov, 2017
New York City

Aviva plans to launch share buyback of up to

[R]4:00 PM Frankfurt – Aviva plans to launch share buyback of up to £1 billion. GK Software profit surged on 24% jump in revenues. JOST Werke lifted fiscal 2017 outlook. Pearson agreed to sell its Spain-based subsidiary Wall Street English for about £225 million.[/R]

In London trading, FTSE 100 index edged up 1.06 to 7,409.98 and in Frankfurt the DAX index decreased 35.04 or 0.3% to 13,025.79.

In Paris, CAC 40 index slipped 15.11 or 0.3% to 5,375.65.

Aviva Plc increased 1.4% to 506.50 pence after Sunday Times reported that the U.K.-based insurer plans to launch share buyback of up to £1 billion as an investor before the end of this week.

GK Software AG slid 0.2% to €114.50 after Germany-based information technology provider stated sales in the nine-month period ending in September jumped 24.2% from a year ago to €65.9 million.

Net income in the period surged to €2.3 million from €0.3 million in a year ago period and diluted earnings per share jumped to €1.15 from €0.14.

JOST Werke AG gained 1.3% to €44 after Germany-based truck and commercial vehicle maker said sales in the nine-month period ending in September soared 10% from a year ago to €533.3 million.

Net loss in the period widened to €75.6 million from €7.9 million in a year ago period.

Sales in Europe increased 2%, in North America jumped 6% and in Asia, Pacific and Africa surged 47.1%.

Operating profit in the period advanced 36.4% to €41.2 million from €30.2 million in the same period a year ago.

JOST lifted fiscal 2017 sales forecast to grow in high single-digit rate from the earlier estimate of mid-single-digit rate and operating profit to grow at double-digit rate from the previous estimate of single-digit growth rate.

Pearson Plc slipped 1.7% to 695.81 pence after the U.K.-based educational books publisher agreed to sell its Spain-based language teaching unit Wall Street English to Baring Private Equity Asia and CITIC Capital for about £225 million or $300 million.

The transaction is expected to close in the first-half of 2018.