4:00 PM Frankfurt – AstraZeneca beats earnings estimate. BT profits and revenues missed forecasts. CaixaBank revenues jumped. Danske Bank plans to launch share buy-back program for up to 10 billion krone. Deutsche Bank net loss widened on weak revenues and tax changes in the U.S.
In London trading, FTSE 100 index slumped 50.29 or 0.7% to 7,440.10 and in Frankfurt the DAX index dropped 190.03 or 1.5% to 12,811.79.
In Paris, CAC 40 index declined 62.75 or 1.2% to 5,391.79.
For the week, FTSE 100 index dropped 2.9%, the DAX index plunged 3.9% and the CAC 40 index plummeted 2.8%.
, the U.K.-based insurance provider said revenues in the fourth-quarter ending in December soared 10% from a year ago to $2.9 billion.
Net in the quarter swung to a loss of $19 million from profit of $452 million in a year ago period and diluted loss per share swung to 7 cents from diluted earnings per share of $1.68.
increased 1.3% to 4,950.50 pence after the U.K.-based biopharmaceutical products maker reported total revenues in the fourth-quarter ending in December rose 3% from a year ago to $5.8 billion.
Net income in the quarter tumbled 27.8% to $1.3 billion from $1.8 billion in a year ago period and diluted earnings per share slumped to $1.03 from $1.45.
AstraZeneca said the decline in profit was driven by the slump in sales in Crestor business by 7% to $594 million and sales in Seroquel XR segment dropped 9% to $108 million and sales in Nexium plunged 12% to $427 million.
The drug maker forecasted fiscal 2018 diluted earnings per share between $1.65 to $1.75 and revenues to grow in low single digit percentage.
BT Group Plc
declined 4.1% to 245.40 pence after the U.K.-based communications services provider reported revenues in the nine-month period ending in December slid 1% from a year ago to £17.8 billion.
Net profit in the period plunged 13.3% to £1.3 billion from £1.5 billion in a year ago period and diluted earnings per share dropped to 13.2 pence from 15.3 pence.
dropped 2.6% to €4.25 after Spain-based banking and financial services provider said net interest income in the year ending in December jumped 14.2% from a year ago to €4.7 billion.
Net profit in the year soared 60.9% to €1.7 billion from €1 billion in a year ago period and diluted earnings per share advanced to €0.28 from €0.26.
Danske Bank A/S
increased 1.8% to 245.80 Danish krone after Denmark-based healthcare products maker reported sales in the year ending in December fell 1.8% from a year ago to 58.5 billion krone.
Net profit in the year jumped 5% to 20.9 billion krone from 19.9 billion krone in a year ago period and diluted earnings per share increased to 22.1 krone from 20.2 krone.
Separately, today the bank will launch share buy-back program of 85 million for up to 10 billion krone, between February 5th 2018 and February 1st, 2019
Deutsche Bank AG
declined 3.7% to €14.23 after Germany-based investment and financial services provider said revenues in the fourth-quarter ending in December plunged 19.7% from a year ago to €5.7 billion.
Net loss in the quarter widened to €2.2 billion from €1.9 billion in a year ago period and diluted loss per share decreased to €1.04 from €1.21.