4:00 PM Frankfurt – Audi forecasted fiscal 2018 revenues may slightly increase. Banco BPM profit declined on higher loan loss provisions. HSBC beats earnings estimates.
In London trading, FTSE 100 index edged up 5.48 to 7,664.58 and in Frankfurt the DAX index slid 10.67 to 12,605.09.
In Paris, CAC 40 index edged down 4.89 to 5,474.08.
slipped 1.6% to €726 after Germany-based automobile manufacturer reported revenues in the first-half ending in June advanced 4% from a year ago to €31.2 billion.
Net profit in the period declined 11.2% to €1.3 billion from €1.4 billion in the same period a year ago and diluted earnings per share increased to €53.79 from €46.82.
Audi said total deliveries in the period jumped 4.5% from a year ago period to 949,282 units driven by demand growth in China and the United States.
Audi forecasted fiscal 2018 revenues may increase slightly.
Banco BPM SpA
plunged 6.7% to €2.34 after Italy-based banking and financial services provider said revenues in the first-half ending in June jumped 6.1% from a year ago to €2.5 billion.
Net profit in the period tumbled 89% to €352.6 million from €3.2 billion in the same period a year ago.
The bank said decline in profit was driven by higher loan loss provisions and capital buffer due to sharp falls in Italian government bond prices.
The lender had shortlisted three bidders for the sale portfolio of bad loans of up to €10 billion or £8.90 billion and plans to sell its debt collection business.
rose 0.2% to 1,552.50 pence after the low-cost airline services provider said passenger numbers in July jumped 4.5% to 8.54 million and load factor rose to 96.9% from 96.8%.
HSBC Holdings Plc
dropped 1.1% to 708.10 pence after the U.K.-based banking and financial services provider reported net interest income in the first-half ending in June increased 4% from a year ago to $27.3 billion.
Net income in the period jumped 5% to $8.4 billion from $8 billion in the same period a year ago and diluted earnings per share rose to 36 cents from 35 cents.
The lender said business in retail banking; wealth management and commercial banking performed strongest in the period.
The global banking group sounded cautiously optimistic on global growth in the rest of the year.