4:00 PM Frankfurt – Almirall plunged after Spain based drug maker lowered fiscal revenue forecast. Carillion tumbled on profit warning and the construction contractor wrote down £845 million. Orkla agreed to sell remaining 50% stake in aluminum products subsidiary.
In London trading, FTSE 100 index rose 34.48 or 0.5% to 7,385.36 and in Frankfurt the DAX index gained 69.65 or 0.6% to 12,457.95.
In Paris, CAC 40 index increased 29.83 or 0.6% to 5,174.71
Almirall SA plunged 24.4% to €9.84 after the Spain-based therapeutic drugs maker forecasted operating profit in fiscal 2017 in the range of €140 million to €170 million.
The drug maker lowered estimate because of the inventory issues linked to the patient assistance program. Gross and net sales are expected to decline in the low double-digits.
Carillion Plc tumbled 33.5% to 127.80 pence after the construction services provider said revenues in the first-half ending in June were nearly flat from a year ago at £2.6 billion and operating profit is expected to decline between 15% to 20% from a year ago.
Carillion lowered full-year revenue forecast to between £4.8 billion and £5 billion from the previous estimate of more than £5 billion after it withdrew from Qatar, Saudi Arabia and Egypt.
The construction services provider wrote down contracts in the Middle East and U.K. by £845 million or $1.09 billion.
G4S Plc fell 0.9% to 324.40 pence after the U.K.-based security services provider secured four-year contract valued €30 million to provide latest electronic monitoring equipment and software for the Ministry of Justice in France.
Orkla ASA jumped 2.4% to 86 Norwegian kroner after the Norway-based consumer goods supplier agreed to sell remaining 50% stake in its aluminum products subsidiary Sapa to domestic rival Norsk Hydro ASA for about 27 billion kroner $3.2 billion in cash on a debt-free basis.
The transaction is expected to close in the fiscal 2017.
On July 4, Orkla said it had divested its Lilleborg''s professional laundry business to the Belgium-based hygiene and cleaning products and services provider Christeyns.
Shire Plc slipped 1.4% to 4,265.50 pence after the rare diseases drugs maker filed for a new drug application with the U.S. drug regulator, seeking approval for its recombinant factor VIII gene therapy candidate, SHP654 for the treatment of patients with Hemophilia A.