4:00 PM Frankfurt Allianz reaffirmed 2018 profit target. Credit Agricole profit declined but revenues advanced. Dufry reported lower-than-expected results. Mondi profit jumped on higher prices. Siemens beats expectations. Swiss Re reported disappointing results.
In London trading, FTSE 100 index jumped 81.92 or 1.1% to 7,658.54 and in Frankfurt the DAX index increased 68.41 or 0.5% to 12,614.74.
In Paris, CAC 40 index gained 14.48 or 0.3% to 5,476.34.
gained 1.2% to 187.86 after Germany-based insurer reported total revenues in the first-half ending in June fell 0.5% from a year ago to 54.1 billion.
Net profit in the period rose 0.5% to 4.03 billion from 4.01 billion in the same period a year ago and diluted earnings per share increased to 8.78 from 8.44.
The insurer forecasted fiscal operating profit between 10.6 billion and 11.6 billion.
Credit Agricole SA
jumped 3.7% to 12.39 after France-based corporate and investment banking services provider said group revenues in the first-half ending in June advanced 3.1% from a year ago to 16.7 billion.
Net profit in the period declined 5.4% to 3.5 billion from 3.7 billion in the same period a year ago.
plunged 5.3% to 122.05 Swiss francs after Switzerland-based travel retailer revenues in the first-half ending in June soared 8.1% from a year ago to 4 billion francs.
Net loss in the period narrowed to 9.6 million francs from 24.9 million in the same period a year ago and diluted loss per share decreased to 0.18 francs from 0.46 francs.
soared 6.6% to 2,208.50 pence after the U.K.-based packaging and paper revenues in the first-half ending in June jumped 4.2% from a year ago to £3.7 billion.
Net income in the period fell 1.3% to £369 million from £374 million in the same period a year ago and diluted earnings per share rose to 72.4 pence from 72 pence.
Mondi said pretax profit in the period soared 6% to £490 million from a year ago period.
""Mondi delivered a strong performance and benefited from good demand across our packaging businesses as well as higher average selling prices, said chief executive officer Peter Oswald.
slipped 1.7% to 112.26 after Germany-based industrial automation and conglomerate reported revenues in the third-quarter ending in June slumped 4% from a year ago to 20.5 billion.
Net profit in the quarter plunged 14% to 1.2 billion from 1.4 billion in the same period a year ago and diluted earnings per share dropped to 1.36 from 1.67.
Siemens said as of June 30, new orders surged 16% to 22.8 billion driven by higher volume from large orders.
In a conference call with investors, president and chief executive officer Joe Kaeser said the companys Mobility division will split as a legally separate entity until the merger with Alstom is finalized.
Yesterday, Siemens announced that it had acquired the U.S.-based low-code application developer Mendix for about 600 million or $730 million.
Swiss Re AG
slumped 2.4% to 87.86 Swiss francs after Switzerland-based reinsurance services provider said revenues in the first-half ending in June surged 8.3% from a year ago to $19.6 billion.
Net income in the period tumbled 16.7% to $1 billion from $1.2 billion in the same period a year ago and diluted loss per share slumped to $3.07 from $3.47.