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Market Update

Credit Suisse Reports 3rd Annual Loss; Sky, BT in 4.5 B in Broadcast Rights


Author: Sarla Buch
ticker.com
Last Update: 11:33 AM EST February 14 2018

4:00 PM Frankfurt Bilfinger net swung to a loss. Criteo surged on strong financial results. Credit Agricole reported double-digit growth. Credit Suisse sounded upbeat despite annual loss. Sky and BT agreed to pay 4.5 billion for Premier League football broadcast rights. Thyssenkrupp profit was below expectations.

In London trading, FTSE 100 index edged down 0.96 to 7,176.10 and in Frankfurt the DAX index slid 27.28 or 0.2% to 12,258.64.

In Paris, CAC 40 index fell 11.40 or 0.2% to 5,128.65.

Bilfinger SE soared 5.5% to 36.20 after Germany-based industrial services provider said revenues in the year ending in December dropped 5% from a year ago to 4 billion.

Net in the year swung to a loss of 89 million from profit of 271 million in a year ago period and diluted loss per share swung to a 2.01 from diluted earnings per share of 6.13.

The industrial services provider said gross profit in the year plunged 15% to 336 million from 395 million in the same period a year ago.

Bilfinger said orders received in the year were flat at 4.1 billion but order backlog declined 3% to 2.5 billion from a year ago period.

Criteo SA surged 19.4% to 22.20 after France-based advertising and marketing services provider said revenues in the year ending in December soared 28% from a year ago to $2.3 billion.

Net profit in the year jumped 11% to $91.2 million from $82.3 million in a year ago period and diluted earnings per share jumped to $1.34 from $1.25.

Credit Agricole SA declined 3.3% to 13.50 after France-based banking services provider reported group revenues in the year ending in December jumped 5.5% from a year ago to $32.1 billion.

Net profit in the year soared 35.5% to $6.5 billion from $4.8 billion in a year ago period and diluted earnings per share jumped to $1.12 from $0.99.

Credit Suisse Group AG advanced 3.3% to $18.26 after Switzerland-based financial services provider said revenues in the year ending in December edged up 1% from a year ago to 21.8 billion Swiss francs.

Net loss in the year narrowed to 983 million francs from 2.7 billion francs in a year ago period and diluted loss per share dropped to 0.41 francs from 1.27 francs.

Sky Plc increased 1.9% to 1,081.50 pence after the broadcasting services provider and rival BT Group Plc agreed to pay 4.46 billion to secure the broadcast rights for Premier League football games to show 160 games between 2019 and 2022.

ThyssenKrupp AG slipped 1.9% to 22.66 after Germany-based diversified industrial products maker reported revenues in the first-quarter ending in December declined 3% from a year ago to 9.8 billion.

Net profit in the quarter surged to 78 million from 8 million in a year ago period and diluted earnings per share jumped to 0.12 from 0.01.

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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