S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

BP Net Swings to Loss; Banco Santander Net Surges


Author: Nigel Thomas
ticker.com
Last Update: 11:34 AM ET February 03 2015

4:00 PM Frankfurt Alfa Laval net jumped 5% to 911 million kronor on 19% increase in revenues. BG net loss widened to $5.03 billion and the natural gas company wrote down of $8.9 billion assets in Australia. BP net swung to a loss of $4.4 billion. Banco Santander net surged 39%. Ocado net swung to profit.

European markets advanced after Greece retreated from its demand to write off debt.

Market indexes of Italy and Spain jumped more than 2% after falling for two days on the worries that a anxieties related to protracted Greek negotiations with the European lenders may spillover in the peripheral markets.

In London trading, FTSE 100 index climbed 1.2% or 81.39 to 6,863.94 and in Frankfurt the DAX index gained 0.7% or 71.14 to 10,899.15.

In Paris, CAC 40 index jumped 0.9% or 41.30 to 4,668.97.

Alfa Laval AB gained 0.9% to 156.20 kronor after the Sweden-based heat transfer solution provider said net sales in the fourth-quarter ending in December surged 19% to 10.77 billion kronor from 8.61 billion kronor a year ago period.

Net income in the quarter jumped 4.6% from a year ago to 911 million kronor compared to 871 million kronor and earnings per share slipped to 7.02 kronor from 7.22 kronor.

BG Group Plc fell 0.3% to 932.10 pence after the U.K.-based oil and gas explorer reported revenues in the fourth-quarter ending in December plunged 19% to $4.40 billion from $5.43 billion a year ago period.

Net loss in the quarter widened from a year ago to $5.03 billion compared to $1.08 billion and diluted loss per share increased to 146.8 cents from a loss of 31.1 cents.

The company reported pre-tax impairment for the quarter of about $8.9 billion on downward revisions on assets in Australian.

The company added total $6.8 billion write-down related to reassessment of group''s Australian assets including $2.7 billion pre-tax recorded on Queensland Curtis LNG project to convert coal-seam gas to liquefied natural gas for export..

BP Plc jumped 2.5% to 448.60 pence after the U.K.-based energy explorer reported sales in the fourth-quarter ending in December declined 21% to $74 billion from $93.72 billion a year ago period.

Net in the quarter swung to a loss from a year ago to $4.37 billion compared to profit of $1.1 billion and diluted loss per share swung to a 24.18 cents from earnings per share of 5.54 cents.

Banco Santander, S.A climbed 4.2% to 6.19 after the Spain-based commercial bank stated net interest income in the year ending in December jumped 4% to 29.55 billion form 28.42 billion a year ago period.

Net profit in the year surged 39.3% from a year ago to 5.82 billion compared to 4.18 billion and earnings per share increased to 0.48 from 0.39.

The bank said net loan-loss provisions in the quarter dropped to 2.45 billion from 2.77 billion in the same quarter a year ago.

Ocado Group Plc climbed 4.7% to 434.91 pence after the U.K.-based online consumer good retailer reported revenues in the year ending in November soared 19.8% to 948.9 million from 792.1 million a year ago period.

Net in the year swung to profit from a year ago to 7.3 million compared to a loss of 12.5 million and diluted earnings per share swung to 1.18 pence from a loss of 2.16 pence.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc