Sanofi Wins EU Approval for Nano-body Drug, Bollore Net Soars 25%

Sarla Buch
03 Sep, 2018
New York City

Bollore profit surged after strong performance across all logistics segments. Casino Guichard clarified that the latest rating downgrade overlook asset disposal plan. Ontex rejected revised unsolicited and non-binding cash proposal.

[R]4:00 PM Frankfurt – Bollore profit surged after strong performance across all logistics segments. Casino Guichard clarified that the latest rating downgrade overlook asset disposal plan. Ontex rejected revised unsolicited and non-binding cash proposal.[/R]

In London trading, FTSE 100 index jumped 61.57 or 0.8% to 7,494.08 and in Frankfurt the DAX index slipped 47.47 or 0.4% to 12,316.59.

In Paris, CAC 40 index edged down 0.27 to 5,406.58.

Bollore SA dropped 2.2% to €4.03 after France-based logistics conglomerate reported revenues in the first-half ending in June surged 54% from a year ago to €10.9 billion.

Net profit in the period soared 25.5% to €605 million from €482 million in the same period a year ago.

Bollore said revenues in the transport and logistics business jumped 12% to €2.9 billion and revenues in the oil logistics segment soared 20% to €1.3 billion.

The conglomerate said revenues were impacted by €3.6 billion in consolidation of Vivendi.

Casino Guichard Perrachon SA slumped 1.9% to €26.80 after France-based food retailer said that the rating agency Standard & Poor’s decision to downgrade its bond rating by one notch to BB level does not take into account the ongoing €1.5 billion disposal plan.

As of June 30, Casino had €5.5 billion of debt of which €3.1 billion will mature between 2020 and 2022 and the retailer confirmed its plan to reduce its net debt by €2.7 billion from €3.7 billion a year ago period.

The retailer reaffirmed its fiscal 2018 forecast announced during the release of first-half 2018.

The board during its August 31 meeting noted its stock price is the object of speculative repeated attacks.

KBC Ancora CVA rose 0.1% to €43.58 after Belgium-based banking, insurance and asset management services provider said profit in the year ending in June tumbled 74.5% to €215 million from €843.2 million in the same period a year ago.

However, decline in profit was driven by the booking of impairments in financial assets of €646.5 million in the year.

Ontex Group NV declined 18.5% to €20.14 after the board of Belgium-based diapers maker today announced it had unanimously rejected the revised unsolicited and non-binding cash proposal by PAI Partners SAS.

Sanofi SA jumped 1.3% to € 74.61 after France-based biopharmaceutical drug maker received regulatory approval from the European Commission for its blood-clotting disorder treatment Cablivi- caplacizumab using nanobodies.

Cablivi is the first nano-body medicine and the first approved product developed by Genzyme''s Rare Blood Disorders, a subsidiary of Sanofi.