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Market Update

Audi, Hannover, Prudential, Symrise Net Jump; RWE Net Swings to Profit


Author: Nigel Thomas
ticker.com
Last Update: 11:17 AM ET March 10 2015

4:00 PM Frankfurt Audi profit soared 10% to 4.4 billion. Hannover Re net climbed 10% to 986 million. Prudential profit surged 64% to 2.2 billion on 15% increase in revenues. RWE net swung to profit of 1.7 billion. Symrise net climbed 7%.

In London trading, FTSE 100 index declined 1.5% or 101.08 to 6,775.39 and in Frankfurt the DAX index dropped 1.2% or 139.04 to 11,443.07.

In Paris, CAC 40 index slumped 1.2% or 59.79 to 4,877.41.

Audi AG climbed 4.6% to 739.65 after the Germany-based luxury vehicles maker reported revenues in the year ending in December jumped 7.8% to 53.79 billion from 49.88 billion a year ago period.

Net profit in the year soared 10.4% from a year ago to 4.37 billion compared to 3.96 billion and diluted earnings per share advanced to 101.55 from 92.13.

In the current year, the company plans to add worldwide more than 6,000 new employees and intends to deliver more premium cars in 2015.

Hannover Rueck SE jumped 4.5% to 91.03 after the Germany-based non-life insurance company said total revenues in the year ending in December increased 1.9% to 13.90 billion from 13.64 billion a year ago period.

Net profit in the year climbed 10.1% from a year ago to 985.6 million compared to 895.5 million and diluted earnings per share jumped to 8.17 from 7.43.

For the fiscal 2015, the group forecasted net income of about 875 million and proposed to pay dividend of 3 per share plus 1.25 special dividend for 2014.

Prudential Plc dropped 2.6% to 1,620.55 pence after the U.K.-based financial services provider reported total revenues in the year ending in December surged 14.8% to 60.13 million from 52.37 million a year ago period.

Net profit in the year surged 64.4% form a year ago to 2.22 billion compared to 1.35 billion and diluted earnings per share climbed to 86.8 pence from 52.7 pence in the same period a year ago.

RWE AG slipped 1.9% to 23.86 after the Germany-based electricity and gas distributor stated revenues in the year ending in December declined 7.5% to 48.47 billion from 82.42 billion a year ago period.

Net in the year swung to profit from a year ago to 1.70 billion compared to a loss of 2.76 billion and diluted earnings per share swung to 2.77 from diluted loss per share of 4.49.

The energy company forecasted operating earnings to drop as much as 14% to between 6.1 billion and 6.4 billion this year.

Symrise AG gained 2% to 58 after the Germany-based fragrances and flavors products maker said sales in the year ending in December jumped 18% to 2.12 billion from 1.83 billion a year ago period.

Net profit in the year climbed 7.4% from a year ago to 211.6 million compared to 172.3 million and diluted earnings per share increased to 1.69 from 1.46.

The company forecasted EBITDA margin for the fiscal 2015 to climb to more than 20%.

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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