4:00 PM Frankfurt – ABB lowered revenues forecast up to fiscal 2020. Bourbon net loss widened. Barratt Developments profit surged 47%. Hargreaves Lansdown net slumped 3%. Ryanair lifted profit forecast after traffic in the first-half jumped 13%.
In London trading, FTSE 100 index jumped 97.55 or 1.6% to 6,243.16 and in Frankfurt the DAX index gained 138.67 or 1.4% to 10,410.99.
In Paris, CAC 40 index soared 110.46 or 2.4% to 4,709.18.
increased 1.2% to 18.76 Swiss francs after the Switzerland-based power and automation equipment provider lowered revenue growth forecast from 2015 to 2020 to between 3% and 6% compared to the earlier estimated range between 4% and 7% largely on the slowdown in China and weaker oil prices.
The company estimated white-collar productivity savings of about $1 billion in addition to ongoing cost control measures and free up $2 billion in cash by the end of 2017.
However, ABB said it will continue its current two-year, $4 billion share buyback program.
gained 2.1% to €11.65 after the France-based offshore marine services provider said revenues in the first-half ending in June soared 9.4% from a year ago to €701.3 million from €642.6 million.
Net loss in the period widened form a year ago to €19.2 million compared to €4.8 million and earnings per share dropped to €0.27 from €0.07.
Barratt Developments Plc
rose 0.3% to 638 pence after the U.K.-based residential property developer reported revenues in the year ending in June jumped 10.8% from a year ago to £3.76 billion from £3.16 billion.
Net profit in the quarter surged 47.2% from a year ago to £449.4 million compared to £305.4 million and diluted earnings per share increased to 44.6 pence from 30.4 pence.
Hargreaves Lansdown Plc
soared 5.7% to 1,178.88 pence after the U.K.-based financial service provider said net revenues in the year ending in June rose 1% from a year ago to £294.2 million from £291.9 million.
Net profit in the quarter slumped 3% from a year ago to £157.2 million compared to £162.7 million and diluted earnings per share decreased to 33.1 pence from 34.2 pence.
The company said total assets under management for the year soared 18% to £55.2 billion from £46.9 billion in a year ago period.
Ryanair Holdings Plc
surged 5.9% to €13.70 after the Ireland-based low-cost airline company lifted net profit forecast for the year to a range between €1.18 billion and €1.23 billion compared to the previous guidance in the range of €940 million to €970 million.
The airline said traffic in the first-half jumped 13% from the previous estimate of 10% increase and fares increased to 2% compared to flat fares estimate.
For the year, the company forecasted traffic to increase to 104 million from the previous guidance of 103 million.