European Corporate Roundup for Thursday

In focus Thursday is a complaint filed by Iran's Bank Markazi against Deutsche Boerse AG subsidiary Clearstream, seeking restitution of assets worth about $4.9 billion.

The Iranian central bank filed the complaint against post-trade services provider Clearstream and Italian bank Banca UBAE SpA at a court in Luxembourg, where the subsidiary is based, Deutsche Boerse said.

The complaint seeks restitution for the Iranian bank's assets, which are allegedly held on accounts of UBAE and Bank Markazi with Clearstream that total about $4.9 billion plus interest.

Alternatively, Bank Markazi seeks damages worth the same amount, Deutsche Boerse said.

Deutsche Boerse shares were unaffected, last up 0.2%.

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Shares in Associated British Foods PLC dropped in early trade as the food ingredients group reported a fall in revenue from its sugar business.

AB Sugar's revenue fell 13% at actual exchange rates and 12% in constant currency. AB Foods now expects a greater fall in revenue and profit from the unit than previously forecast, primarily due to "significantly lower" European Union sugar prices following the removal of sales quotas and export constraints.

"Overall, the group's outlook for FY18 remains unchanged with progress expected in adjusted profit and earnings," Liberum Capital says.

Shares were last down 2.9%.

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Experian PLC said it is maintaining its expectations for fiscal 2018 as it recorded 5% growth in third-quarter organic revenue.

The credit-checking company said that following tax reform in the U.S., it expects the reduction in its group tax rate will be broadly offset by reduced tax deductions for interest and other costs. Experian expects its group tax rate for the year ending March 31 will be unchanged from previous guidance of between 26% and 27%, and that it will be within a similar range in fiscal 2019.

For the three months ended Dec. 31, Experian said total revenue growth at actual exchange rates was 8%, with growth of 6% at constant exchange rates.

Shares rose 1.2% initially after the trading update, before dropping 1.3% in afternoon trade.

(END) Dow Jones Newswires

January 18, 2018 08:17 ET (13:17 GMT)

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