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Market Update

Aviva, Hikma Pharma, Hannover, Inmarsat, Siemens, Societe BIC Net Decline


Author: Sarla Buch
ticker.com
Last Update: 11:28 AM ET August 04 2016

4:00 PM Frankfurt Aviva profit tumbled 63% but revenues soared. Hikma Pharmaceuticals plunged after weak revenues forecast. Hannover profit declined 9%. Inmarsat net declined 7%. Siemens net dropped 2% but revenues jumped 5%. Societe BIC net plunged 21%.

In London trading, FTSE 100 index jumped 110.60 or 1.7% to 6,744.90 and in Frankfurt the DAX index increased 48.54 or 0.5% to 10,218.22.

In Paris, CAC 40 index advanced 21.52 or 0.5% to 4,341.87.

Aviva Plc surged 7.6% to 414.10 pence after the U.K.-based general and health insurance provider said total revenues in the first-half ending in June soared 143.1% from a year ago to 27.4 billion.

Net income in the period tumbled 63.1% from a year ago to 201 million compared to the 545 million and diluted earnings per share dropped 2.4 pence from 12.7 pence.

Hikma Pharmaceuticals Plc plunged 16.6% to 2,225.09 pence after the U.K.-based generic pharmaceutical products maker forecasted group revenue in the full-year between $2 billion and $2.1 billion and revenues in West-Ward Columbus segment to increase between $700 million and $750 million.

In the full-year, Hikma lowered revenue estimate in the combined generics business between $640 million and $670 million, mainly due to delay in certain new product approvals.

Hannover Rueck SE declined 4.3% to 87.22 after the Germany-based reinsurance services provider reported total revenues in the first-half ending in June increased 2.1% from a year ago to 7.2 billion.

Net income in the period slumped 8.6% from a year ago to 486.1 million compared to the 531.9 million and diluted earnings per share decreased to 4.03 per share from 4.41.

Inmarsat Plc soared 6.9% to pence after the U.K.-based mobile satellite communications services provider said total revenues in the first-half ending in June rose 2% from a year ago to $629 million.

Net income in the period declined 7.1% from a year ago to $122.1 million compared to the $131.4 million and diluted earnings per share fell 27 cents from 29 cents.

Siemens AG jumped 5.1% to 101.61 after the Germany-based industrial conglomerate reported revenues in the third-quarter ending in June advanced 5% from a year ago to 19.8 billion.

Net income in the period dropped 2.2% from a year ago to 1.33 billion compared to the 1.36 billion and diluted earnings per share slid to 1.62 per share from 1.63.

Siemens lifted earnings per share forecast in fiscal 2016 in the range of 6.50 to 6.70 from the earlier estimated range of 6 to 6.40.

Societe BIC SA soared 4.4% to 135.40 after the France-based lighters and shavers maker said net sales in the first-half ending in June edged down 0.1% from a year ago to 1.13 billion.

Net income in the period plunged 20.6% from a year ago to 140.1 million compared to the 176.6 million and diluted earnings per share fell to 2.98 per share from 3.74.

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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