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Market Update : 
Aurubis Confirms Outlook, Ipsen Buys Portfolio of Products from Sanofi
Author: Sarla Buch
Last Update: 9:55 AM ET February 13 2017

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4:00 PM Frankfurt – Aurubis net swung to profit despite scheduled shut-down. The debt laden online bank Co-Operative Bank is looking for capital injection or a buyer. Ipsen agreed to buy five consumer healthcare products from Sanofi. Peugeot agreed to acquire India-based passenger car brand Ambassador.

In London trading, FTSE 100 index rose 9.36 to 7,268.11 and in Frankfurt the DAX index increased 107.47 or 0.9% to 11,775.88.

In Paris, CAC 40 index jumped 56.88 or 1.2% to 4,885.20.

Aurubis AG advanced 3% to €53.50 after Germany-based copper producer reported revenues in the first-half ending in December jumped 3% from a year ago to €2.5 billion.

Net in the period swung to profit from a year ago to €78.1 million compared to a loss of €24.8 million and diluted earnings per share swung to €1.73 from diluted loss per share of €0.56.

""The result was significantly influenced by a scheduled shut-down in Hamburg,"" the company said.

Co-Operative Bank Plc, the U.K.-based online banking services provider decided to put itself on the block.

“The board had decided to begin a process to sell the Bank and also to consider alternative options to build our capital position for the future,” chief executive officer Liam Coleman said.

However, the debt-laden bank added this announcement does not affect the products customers hold with us, or the service we provide.

Ipsen SA gained 1.5% €76.38 after France-based pharmaceutical products maker agreed to acquire five consumer healthcare products in the European region for about €83 million cash from therapeutic drugs maker Sanofi SA.

The transaction is expected to close in the second-quarter of 2017.

Peugeot SA jumped 3.2% to €17.94 after France-based vehicles maker agreed to acquire India-based Ambassador brand, including trademark and certain rights for about $12 million or ₹800 million from Hindustan Motors Limited controlled by Birla Group.

STADA Arzneimittel AG surged 14.1% to €56.70 after Germany-based healthcare products maker confirmed that it had received two legally non-binding takeover offers including a bid from Cinven Partners LLP at a takeover price of €56.

Trenitalia, the Italy’s national railway FS Group said it completed the acquisition of the c2c rail operation for about £72.6 million from National Express between London to Essex Thameside franchisee c2c that is approved by the Department for Transport.

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Market data: BATS Exchange. Inc.

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