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Market Update : 
French Group Alstom Sales Up 6%, Babcock Stock Spikes on Results
Author: Sarla Buch
Last Update: 5:36 PM ET July 13 2017

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4:00 PM Frankfurt Alstom revenues in the first-quarter jumped 6%. Babcock Intl forecasted stable order book. Ofcom set up separate unit to monitor BT''s Openreach unit. Sports Direct agreed to buy 26% Stake in Game Digital.

In London trading, FTSE 100 index edged up 0.48 to 7,417.41 and in Frankfurt the DAX index added 9.75 to 12,636.33.

In Paris, CAC 40 index rose 20.64 or 0.2% to 5,242.77.

Alstom SA advanced 2.8% to 31.64 after France-based rail transport services provider reported sales in the first-quarter jumped 6% from a year ago to 1.9 billion and orders received surged 115% from a year ago to 1.9 billion.

Babcock International Group Plc fell 0.2% to 868 pence after the U.K.-based engineering services provider forecasted fiscal 2018 revenues to soar 82% and 55% in the fiscal 2019.

The order book and bid remained stable at 19 billion and 10.5 billion respectively following new contract secured on June 29 worth about 500 million.

BT Group Plc jumped 3.5% to 300.15 pence after the U.K.-based telecoms regulator Ofcom establish a new separate unit to monitor the performance of BT''s broadband network unit Openreach.

Dart Group Plc plunged 12.3% to 582.50 pence after the U.K.-based leisure travel and logistics services provider reported revenues in the year ending in March soared 23% from a year ago to 1.7 billion.

Net profit in the year declined 13.6% from a year ago to 76.7 million from 88.8 million and diluted earnings per share decreased to 51.48 pence from 59.89 pence.

The travel services provider said growth in revenues was driven by strong leisure travel customer demand and resilient ticket pricing for the summer 2016 season.

Sports Direct International Plc gained 1.1% to 303.20 pence after the U.K.-based sporting goods retailer said it had acquired a stake of 25.75% in the video games retailer GAME Digital Plc.

GAME Digital Plc stock soared 9.3% to 26.50 pence.

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

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