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Market Update

Deutsche Bank Net Swings to Profit; Diageo, Fiat, Shell Net Drop


Author: Nigel Thomas
ticker.com
Last Update: 2:12 AM ET January 29 2015

4:00 PM Frankfurt Diageo net plunged 18% to 1.3 billion. Deutsche Bank net swung to profit 441 million on 19% increase in revenues. Fiat Chrysler profit tumbled 68% from a year ago to 420 million but revenues climbed 13%. Nokia profit surged 79%. Shell net plummeted 57%.

In London trading, FTSE 100 index slipped 0.5% or 33.36 to 6,792.58 and in Frankfurt the DAX index edge dup 0.08% or 8.73 to 10,719.70.

In Paris, CAC 40 index rose 0.2% or 7.94 to 4,618.88.

Diageo Plc jumped 2.7% to 2,015 pence after the beer, wine and drinks maker reported net sales in the first-half ending in December fell 1% to 5.90 billion from 5.93 billion a year ago period.

Net profit in the period plunged 18% from a year ago to 1.31 billion compared to 1.60 billion and diluted earnings per share dropped 52.2 pence from 63.5 pence.

Deutsche Bank AG climbed 3.1% to 25.91 after the Germany-based financial service provider reported net revenues in the fourth-quarter ending in December soared 19% to 7.83 billion from 6.56 billion a year ago period.

Net in the quarter swung to profit from a year ago to 441 million compared to a loss of 1.4 billion and diluted earnings per share swung to 0.31 from a loss per share of 1.26.

Fiat Chrysler Automobiles NV halted at 6.94 after the Italy-based automobile company said net revenues in the fourth-quarter ending in December climbed 13.1% to 27.08 billion from 23.94 billion a year ago period.

Net profit in the quarter tumbled 67.7% from a year ago to 420 million compared to 1.30 billion and earnings per share slumped to 0.33 from 0.71.

Nokia Oyj dropped 2.6% to 6.97 after the Finland-based network infrastructure, hardware and software service provider stated net sales in the fourth-quarter ending in December 3.80 billion from 3.48 billion a year ago period.

Profit in the quarter surged 79% from a year ago to 327 million compared to 183 million and diluted earnings per share increased to 0.08 from 0.05.

Royal Dutch Shell Plc declined 4.4% to 2,058 pence after the U.K.-based oil and gas explorer reported revenues in the fourth-quarter ending in December dropped 15.4% to $92.37 billion from $109.24 billion a year ago period.

Net income in the quarter plummeted 56.6% from a year ago to $773 million compared to $1.78 billion and diluted earnings per share slumped to 12 cents from 28 cents.

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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