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Market Update

Allianz, Hexagon Net Soar; TDC, William Hill Profit Decline


Author: Nigel Thomas
ticker.com
Last Update: 11:00 AM ET August 07 2015

4:00 PM Frankfurt – Allianz net surged 13%. Erste Group Bank net swung to a loss to €930 million. Sweden-based Hexagon said net soared 20% to €220 million. TDC profittumbled 49%. William Hill agreed to acquire 29.4% stake in NeoGames for £16 million.

In London trading, FTSE 100 index slipped 13.74 or 0.2% to 6,733.48 and in Frankfurt the DAX index slid 45.57 or 0.4% to 11,538.19.

In Paris, CAC 40 index fell 17.98 or 0.4% to 5,174.13.

For the week, FTSE 100 index gained 0.5% and the DAX index jumped 2% and the CAC 40 index increased 1.8%.

Allianz SE fell 0.6% to €154.15 after the Germany-based financial services provider reported total revenues in the first-half ending in June jumped 7.1% to €67.94 billion or €63.42 billion in a year ago period.

Net profit in the period surged 13.1% from a year ago to €3.84 billion compared to €3.40 billion and diluted earnings per share climbed to €8.45 from €7.41.

The bank affirmed operating profit for the year of about €10.8 billion.

Erste Group Bank AG gained 1.8% to €154.15 after the Austria-based banking services provider reported net interest income in the first-half ending in June rose 1.4% to €2.24 billion or €2.21 billion in a year ago period.

Net in the period swung to a loss of €929.7 million compared to profit of €487.2 million from a year ago and diluted net per share swung to a loss of €2.17 from diluted earnings per share of €1.14.

Hexagon AB decreased 1.3% to €279.70 after the Sweden-based information technology provider reported revenues in the first-half ending in June climbed 5% to €1.49 billion or €1.23 billion in a year ago period.

Net profit in the period soared 20% from a year ago to €220.2 million compared to €183.2 million and earnings per share jumped to €0.61 from €0.51.

TDC A/S slumped 2.1% to 49.81 Danish kronor after the Denmark-based communications company reported revenues in the first-half ending in June jumped 6.8% to 12.22 billion kronor from 11.44 billion kronor in a year ago period.

Net income in the period tumbled 48.9% from a year ago to 1.08 billion kronor compared to 2.12 billion kronor and diluted earnings per share dropped to 1.36 kronor from 2.65 kronor.

William Hill Plc plunged 7.7% to 379.20 pence after the U.K.-based betting and gambling services provider agreed to acquire 29.4% stake in Luxemburg-based NeoGames S.a.r.l., a online lottery software and services provider for a total cash consideration of £16 million or $25 million.

Separately, the company said net revenues in the first-half ending in June slid 0.4% to£808.1 million from £805.2 million in a year ago period.

Profit in the period declined 30% from a year ago to £69.5 million compared to £98.6 million and diluted earnings per share fell to 7.9 pence from 11.3 pence.

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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