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Market Update

Deutsche Bank Settles U.S. Claims for $7.2 B, ASML Net Jumps

Author: Sarla Buch
Last Update: 10:53 AM ET January 18 2017

4:00 PM Frankfurt – ASML net surged 32% after system selling price soared 35%. Burberry said revenues in the third-quarter jumped 4%. Deutsche Bank settled mortgage securities claims with the U.S. regulator for $7.2 billion. J D Wetherspoon sales rose. Novozymes net jumped 16%. Premier Foods tumbled.

In London trading, FTSE 100 index rose 20.09 or 0.3% to 7,240.36 and in Frankfurt the DAX index increased 24.39 or 0.2% to 11,564.90.

In Paris, CAC 40 index slipped 20.10 or 0.4% to 4,839.59.

ASML Holding NV jumped 5.8% to €114 after the Netherlands-based chip maker reported net sales in the fourth-quarter ending in December jumped 4.9% from a year ago to €1.91 billion.

Net income in the quarter surged 32.3% from a year ago to €524 million compared to the €396 million and diluted earnings per share advanced to €1.22 from €0.68.

The semiconductors maker average system selling price soared 35% to €32.2 million from €23.8 million and the system backlog increased to 83 units, higher than 79 units in a year ago.

ASML forecasted net sales in the first-quarter of about €1.8 billion and a gross margin of about 47%.

Burberry Group Plc advanced 2.6% to 1,635 pence after the U.K.-based luxury goods manufacturer and retailer said revenues in the third-quarter ending in December jumped 4% from a year ago to £735 million and comparable sales rose 3%.

Deutsche Bank AG slipped 0.7% to €17.34 after Germany-based investment bank agreed for final settlement with the U.S. Justice Department for misleading investors about mortgage securities during financial crisis.

The settlement of $7.2 billion includes $3.1 billion in civil penalty and $4.1 billion in ""relief to underwater homeowners, distressed borrowers and affected communities,"" DOJ said in a statement.

“Our conduct in this matter, which occurred from 2005 to 2007, falls short of our standards and is unacceptable,” chief executive officer of Deutsche Bank John Cryan said. “We apologize unreservedly for it.”

J D Wetherspoon Plc jumped 3.4% to 932.50 pence after the U.K.-based food and beverage services provider said total sales in the second-quarter ending in January rose 0.7% and comparable sales increased 3.2% while operating margin to soared 8%.

Novozymes A/S declined 4.9% to 240.70 Danish kroner after Denmark-based biotechnology group stated sales in the fourth-quarter ending in December advanced 5.7% from a year ago to 3.7 billion kroner.

Net profit in the quarter jumped 16.2% from a year ago to 805 million kroner compared to the 693 million kroner and diluted earnings per share increased to 2.69 kroner from 2.25 kroner.

Novozymes, the world’s largest enzymes maker forecasted sales and profit in 2017 to increase between 2% and 5% and plans to share buy-back of up to 2 billion kroner.

Premier Foods Plc tumbled 14.6% to 41 pence after the U.K.-based branded and own label food and beverage maker said group sales in the third-quarter ending in December fell 1% from a year ago to £251.4 million as branded sales dropped 3.8% but non-branded sales surged 11.6%.

“Profits for the financial year may be 10% below previous expectations,"" chief executive officer Gavin Darby said.

Net debt as of April 2017 is estimated at about £525 million.

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