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Market Update

BMW, Soc Gen Net Climb; Alstom, Sainsbury Net Swing to Loss


Author: Nigel Thomas
ticker.com
Last Update: 10:47 AM ET May 06 2015

4:00 PM Frankfurt Market indexes across Europe rebounded and retail sales in March fell less than expected. Alstom net swung to a loss of 719 million. Allianz revenues and profit soared 11%. BMW net jumped 4% to 1.5 billion. Puma net tumbled 30%. Societe Generale net soared more than four-fold. Sainsbury net swung to a loss to 166 million.

Market indexes across Europe rebounded after retail sales were ahead of expectations.

Retail trade sales in March fell 0.8% compared to February in euro area and 0.6% in the wider region of EU28 and February retail sales increased 0.1% in the euro area and in the EU28.

Retail sales index jumped 1.6% from a year ago month in the euro area and 2.5% in the EU28, the Statistical Office of the European Communities said.

In London trading, FTSE 100 index gained 0.4% or 25.12 to 6,952.70 and in Frankfurt the DAX index rose 0.2% or 22.31 to 11,349.99.

In Paris, CAC 40 index increased 0.3% or 15.49 to 4,989.56.

Alstom SA gained 1% to 28.09 after the France-based transport and energy infrastructure developer reported sales in the year ending in March climbed 8% to 6.16 billion from 5.73 billion in a year ago period.

Net in the year swung to a loss from a year ago to 719 million compared to profit of 556 million and diluted loss per share swung to a 2.31 from diluted earnings per share of 1.78.

The company wrote down $772 million in settlement with the U.S. Department of Justice late last year to resolve criminal charges and the company was forced to write-off some of its assets in Russia.

Alstom forecasted sales for the year to grow more than 5% organically and operating margin to improve between 5% and 7%.

Allianz SE climbed 2.8% to 154.75 after the Germany-based financial services provider said revenues in the first-quarter ending in March soared 11.2% to 37.8 billion form 34 billion in a year ago period.

Net income in the quarter climbed 11% from a year ago to 1.82 billion compared to 1.64 billion.

Allianz said it will publish full result for the quarter on May 12.

Bayerische Motoren Werke AG slipped 0.6% to 105.85 after Germany-based automaker reported revenues in the first-quarter ending in March surged 14.7% to 20.92 billion form 18.23 billion in a year ago period.

Net income in the quarter jumped 4% from a year ago to 1.52 billion compared to 1.46 billion and diluted earnings per share increased to 2.30 from 2.22.

For the quarter, sales soared 8.1% to 526,691 vehicles from 487,024 vehicles and total production jumped 7% to 556,274 vehicles compared to 519,927 vehicles in a year ago period.

HSBC Holdings Plc gained 0.7% to 630.40 pence after the Asia-focused financial services provider said revenues in the first-quarter ending in March was nearly flat at $15.9 billion from a year ago period.

Net profit in the quarter rose 1% from a year ago to $5.26 billion compared to $5.21 billion and diluted earnings per share slid to 26 cents from 27 cents.

Puma AG dropped 2.9% to 175.95 after the Germany-based sporting equipments maker said net sales in the first-quarter ending in March increased 4.4% to 821 million from 725.7 million in a year ago period.

Net income in the quarter tumbled 30.3% from a year ago to 24.8 million compared to 35.6 million and earnings per share slipped to 1.66 from 2.38.

Societe Generale SA declined 3.3% to 43.28 after the France-based banking and financial service provider reported net revenues in the first-quarter ending in March climbed 12% to 6.35 billion from 5.66 billion in a year ago period.

Net income in the quarter soared more than four-fold from a year ago to 868 million compared to 169 million.

Swisscom AG slipped 1.1% to 550 Swiss francs after the Switzerland-based telecommunication services provider said net revenue in the first-quarter ending in March jumped 2.6% to 2.89 billion francs from 2.82 billion francs in a year ago period.

Net income in the quarter declined 5.9% from a year ago to 351 million francs compared to 373 million francs and diluted earnings per share decreased to 6.78 francs from 7.12 francs.

The company forecasted net fiscal 2015 revenues to remain unchanged at 11.4 billion francs and operating profit of about 4.2 billion francs.

J Sainsbury Plc plunged 4.1% to 263.80 pence after the U.K.-based supermarkets and convenience stores operator reported revenues in the year ending in March fell 0.7% to 23.78 billion from 23.95 billion in a year ago period.

Net in the year swung to a loss to 166 million compared to profit of 716 million in the year ago period and diluted loss per share swung to 8.7 pence from diluted earnings per share of 36.9 pence.

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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