Market Updates

Europe Movers: Balfour Beatty, CNH Industrial, Dignity, National Express, Nokia, Saga

Bridgette Randall
23 Jan, 2023
Frankfurt

    CNH Industrial NV gained 0.6% to €15.79 and the agriculture equipment maker was in focus after union workers ratified a new contract for two manufacturing locations in Iowa. 

    Balfour Beatty Plc increased 1.06% to 363.80 pence after the construction company won a £1.2 billion contract from National Highways to build  'Roads North of the Thames' network for the proposed Lower Thames Crossing.

    Saga Plc increased 2.5% to 154.21 pence after the over-50 travel services provider said it is seeking a buyer for its in-house insurance underwriting operation.  

    Nokia Oyj increased 1.6% to €4.29 after the Finnish telecom company signed a cross-license patent agreement with Samsung Electronics. 

    National Express Group Plc increased 4.2% to 143.28 pence after the company said its German unit National Express Rail GmbH secured a one billion euros contract for rail operations in Germany.  

    Dignity Plc soared 8.5% to 545.0 pence after the company agreed to be acquired by a consortium of investment companies including Phoenix Asset Management Partners, Castelnau Group and SPWOne V Limited. 

    The company's board accepted a cash offer of 550 pence a share valuing the funeral homes operator at  approximately £281 million on a fully diluted basis and an implied enterprise value of approximately £789 million. 

    The cash offer represents 29.3% premium to the closing price of 425.5 pence of Dignity Share on January 3. 

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