Swiss Re Ends Stake Talk with SoftBank, Sixt Leasing Net Falls

Sarla Buch
28 May, 2018
New York City

Germany-based medical technology products maker MUT reported rising profit and held out for positive outlook. Smiths Group is in preliminary talk to sell its medical division with the U.S.-based ICU Medical. Sixt Leasing net fell. Swiss Re ended minority stake talks with Japan-based SoftBank.

[R]4:00 PM Frankfurt – Germany-based medical technology products maker MUT reported rising profit and held out for positive outlook. Smiths Group is in preliminary talk to sell its medical division with the U.S.-based ICU Medical. Sixt Leasing net fell. Swiss Re ended minority stake talks with Japan-based SoftBank.[/R]

In London trading, FTSE 100 index edged up 13.54 to 7,730.28 and in Frankfurt the DAX index decreased 62.72 or 0.5% to 12,875.27.

In Paris, CAC 40 index slipped 32.71 or 0.6% to 5,508.43.

MUT AG increased 1.3% to €23.50 after Germany-based laboratory automation, and medical technology products maker said sales in the first-quarter ending in March soared 12% from a year ago to €18.3 million and operating profit jumped 14% to €3.3 million.

The technology products maker forecasted fiscal 2018 revenue between €66 million and €68 million and operating profit in the range of €10 million to €9.1 million.

Smiths Group Plc gained 0.5% to 1,720 pence after the U.K.-based diversified engineering services provider said that the company is in preliminary talk to merger its medical division with the U.S.-based ICU Medical Inc.

In a statement, Smiths Group did not disclose any financial details under discussion.

Sixt Leasing SE slumped 2% to €18.40 after Germany-based leasing services provider said group revenues in the first-quarter ending in March jumped 7.6% from a year ago to €202 million.

Profit in the quarter fell 1.7% to €5.9 million from €6 million in a year ago period and diluted earnings per share were flat at €0.29 matching the quarter a year ago.

The vehicles leasing services provider said operating profit in the quarter advanced 6.5% to €60.9 million from €57.1 million in the same period a year ago.

Swiss Re rose 0.4% to 90.98 Swiss francs after Switzerland-based reinsurance services provider confirmed that it has ended discussions about a potential minority investment in Japan-based diversified investment group SoftBank Group.