Established 1999
     
8,000 companies from USA and India.  
   
Search over 25,500 news articles and 8,000 companies earnings    
 
Market Update : 
Airbus Fraud Investigates Widens, Tullow to Raise £600 Million
Author: Sarla Buch
123jump.com
Last Update: 10:26 AM ET March 17 2017



Email article | Print article

 
4:00 PM Frankfurt – Airbus fraud case widens after France join the U.K. investigation. Berkeley said new homes starts plunged 30% in London area. Enel net soared 17%. Fraport lifted traffic and revenue forecast. Tullow plans to raise £607 million through a rights issue.

In London trading, FTSE 100 index jumped 25.21 or 0.3% to 7,441.08 and in Frankfurt the DAX index gained 12.28 to 12,097.63.

In Paris, CAC 40 index increased 16.31 or 0.3% to 5,029.87.

For the week, FTSE 100 index gained 1.3%, the DAX index increased 1.1% and the CAC 40 index rose 0.7%.

Airbus Group SE fell 0.8% to €69.79 after France''s financial-crimes investigating agency joined the UK Serious Fraud Office and opened a preliminary investigation into the alleged wrongdoing with the Netherlands-based commercial, military aircraft and helicopters maker.

Airbus said it will ""cooperate fully with both authorities,"" against fraud, bribery and corruption in the civil aviation business related to irregularities concerning third party consultants.

Berkeley Group Holdings Plc jumped 6% to 3,141.36 pence after the U.K.-based home-builder said forward sales estimated of at least £2.6 billion in the year ending in April 2017 and pretax profit of about £3 billion over the five years ending in April 2021.

However, pre-tax profits in the year ending in April 2017 expected at the top end of analysts'' expectations and as announced on February 23, dividend will be paid of 85.24 pence per share on March 24.

Berkeley said new home started in London fell 30% from a year ago after weak reservations and uncertainty from the Brexit vote.

The next £138.8 million of shareholder returns are now scheduled to September 30, 2017 through combination of share buy-backs and dividends.

Enel S.p.A dropped 1.9% to €4.17 after Italy-based multinational electricity and gas provider reported revenues in the year ending in December plunged 6.7% from a year ago to €70.6 billion.

Net income in the year soared 17% from a year ago to €2.6 billion from €2.2 billion and diluted earnings per share increased to €0.26 from €0.23.

The energy producer said decline in revenues mainly due negative exchange rate, decline in electricity trading, separation of Slovenské elektrárne, reduction in electricity sale prices and lower electricity production.

Fraport AG Frankfurt Airport Services Worldwide jumped 3.9% to €62.78 after Germany-based airport services provider said revenues in the year ending in December slid 0.5% from a year ago to €2.6 billion.

Net income in the year surged 35.8% from a year ago to €375.4 million from €276.5 billion and diluted earnings per share increased to €4.06 from €2.99.

In 2017, Fraport forecasted traffic at Frankfurt Airport to grow 2% to 4% and revenue to increase up to €2.9 billion and operating profit between €980 million and €1.02 billion.

Tullow Oil Plc tumbled 15.9% to 199.66 pence after the U.K.-based oil and gas explorer plans to raise £607 million or $790 million through a rights issue and also intends to invest more in exploration and appraisal activity in Kenya.

Tullow proposed 25-for-49 rights issue of 466.93 million new shares at an issue price of 130 pence per share.




  1 More: Market Update Archive

 


 
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.

350 Fund Managers Interviews - 10-year Annual earnings on 4,600 U.S. companies - 20-quarter Earnings on 3,800 U.S. companies - 3,200 U.S. IPO Prospectuses
- 2,100 Economic data releases from U.S., EU, UK, India, HK and Australia. 10-year Annual reports on 3,500 U.S. companies -
U.S. Earnings Calendar with 4,800 companies - 90,000 10-K reports - 26,000 Global markets news archive - 2,200 Earnings Conference Call Summaries

Other Sites:
© 1999-2017 123jump.com. All rights reserved