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Market Update

Euronext Reaffirms Outlook, Reckitt Benckiser Optimism Falls Flat


Author: Sarla Buch
ticker.com
Last Update: 10:43 AM EST February 19 2018

4:00 PM Frankfurt Euronext reaffirmed fiscal forecast and estimated the recent acquisition of the Irish Stock Exchange to drive growth. Fidessa jumped on strong revenue growth. Reckitt Benckiser sales stagnated in 2017. Sopra Steria profit and revenues jumped.

In London trading, FTSE 100 index jumped 63.79 or 0.9% to 7,298.88 and in Frankfurt the DAX index increased 89.03 or 0.7% to 12,434.76.

In Paris, CAC 40 index advanced 53.20 or 1% to 5,275.97.

Euronext NV slipped 0.6% to 53.30 after Netherlands-based trading exchange services provider reported revenues in the year ending in December soared 7% from a year ago to 532.3 million.

Net profit in the year surged 22.5% to 241.3 million from 197 million in a year ago period and diluted earnings per share advanced to 3.45 from 2.82.

Euronext reaffirmed fiscal 2019 operating margin forecast in the range of 61% to 63% and revenue growth of 2%, driven in part from the acquisition of the Irish Stock Exchange.

Fidessa Group Plc soared 6.7% to 2,780 pence after the U.K.-based enterprise software developer said revenues in the year ending in December jumped 7% from a year ago to 353.9 million.

Net income in the year fell 0.3% to 35.7 million from 35.8 million in a year ago period and diluted loss per share slid to 91.7 pence from 92.3 pence.

Reckitt Benckiser Group Plc plunged 6.6% to 6,132 pence after the U.K.-based consumer goods products maker reported revenues in the year ending in December surged 21% from a year ago to 11.5 billion.

Net income in the year soared 244.4% to 6.2 billion from 1.8 billion in a year ago period and diluted loss per share increased to 867.9 pence from 256.5 pence.

Comparable revenues increased only 2% and the consumer products maker said margins in 2017 were under pressure on the rising commodities cost and weak pricing power.

The Dettol maker vowed to return to growth in 2018 after stagnating in 2017 and forecasted fiscal 2018 revenues growth between 13% and 14%.

Sopra Steria Group SA declined 3.8% to 147.90 after France-based consultancy and outsourcing services provider reported revenues in the year ending in December advanced 2.9% from a year ago to 3.8 billion.

Net profit in the year jumped 4.5% to 171.4 million from 150.4 million in a year ago period and diluted earnings per share increased to 8.48 from 7.50.

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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