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Market Update

AXA, Continental, Rio Net Rise; HSBC, Credit Agricole, StanChart Net Fall


Author: Sarla Buch
ticker.com
Last Update: 3:09 AM ET August 03 2016

4:00 PM Frankfurt AXA net jumped 4%. Continental net soared 13% to 1.6 billion. Credit Agricole net fell 1% to 2.8 billion. HSBC net plunged 40% to $9.7 billion. NEXT lifted full-year profit forecast. Rio Tinto net doubled to $1.7 billion. StanChart tumbled 64% to $554 million.

In London trading, FTSE 100 index fell 11.50 or 0.2% to 6,633.65 and in Frankfurt the DAX index rose 30.80 or 0.3% to 10,174.15.

In Paris, CAC 40 index slid 5.13 to 4,322.06.

AXA SA dropped 2.2% to 17.02 after the France-based insurance services provider reported total revenues in the first-half ending in June were unchanged from a year ago to 54 billion.

Net income in the period jumped 4% from a year ago to 3.21 billion compared to 3.08 billion and diluted earnings per share advanced to 1.27 per share from 1.19.

Continental AG slipped 1.2% to 180.85 after the automobile parts and tyre maker said revenues in the first-half ending in June jumped 2.3% from a year ago to 20.04 billion.

Net income in the period soared 13.1% from a year ago to 1.64 billion compared to 1.45 billion and diluted earnings per share advanced to 8.19 per share from 7.24.

Credit Agricole SA fell 0.1% to 7.58 after the France-based banking and insurance services provider reported total revenues in the first-half ending in June declined 5.3% from a year ago to 15.42 billion.

Net income in the period fell 1.1% from a year ago to 2.76 billion compared to 2.73 billion.

HSBC Holdings Plc soared 5.1% to 507.60 pence after the U.K.-based banking and financial services provider said net interest income in the first-half ending in June slumped 4.1% from year ago to $15.76 billion.

Net profit in the period plunged 40% from a year ago to $9.7 billion compared to $13.6 million and diluted earnings per share dropped to 32 cents from 48 cents.

The bank said it will spend up to $2.5 billion to buy-back shares in the second-half of this year.

NEXT Plc jumped 3.8% to 5,325 pence after the U.K.-based apparel and accessories retailer said total sales across all channels in the second-quarter ending in June rose 0.3% while retail sales dropped 3.3%.

The retailer lifted group profit forecast in the year in the range of 755 million to 845 million compared to the earlier estimated range between 748 million and 852 million.

Rio Tinto Plc slipped 0.8% to 2,421.50 pence after the U.K.-based miner reported revenues in the first-half ending in June plunged 13.8% from year ago to $15.50 billion.

Net profit in the period more than doubled from a year ago to $1.7 billion compared to $806 million and diluted earnings per share jumped to 94.9 cents from 43.5 cents.

Standard Chartered Plc advanced 5.2% to 620.20 pence after the U.K.-based banking services provider said revenues in the first-half ending in June declined 14.5% from year ago to $6.57 billion.

Net profit in the period tumbled 63.8% from a year ago to $554 million compared to $1.5 billion and diluted earnings per share dropped to 11.9 cents from 55.5 cents.

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