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Market Update

Europe Earnings: ARM Holdings, BP, NK Rosneft, UBS


Author: Nigel Thomas
ticker.com
Last Update: 10:41 AM ET February 04 2014

3:40 PM Frankfurt – ARM Holdings net swung to a loss. BP net declined 29% and revenue slid 0.2%. NK Rosneft’ profit surged 51%. UBS net swung to a profit 917 million Swiss francs.

In London trading, FTSE 100 index rose 0.1% or 6.54 to 6,472.20 and in Frankfurt the DAX index fell 0.2% or 20.77 to 9,165.75.

In Paris, CAC 40 index gained 0.6% or 24.47 to 4,132.22.

ARM Holdings Plc declined 6.5% to 870 pence after the U.K.-based microprocessors maker said revenue in the fourth-quarter ending in December jumped 15% to £189.1 million from £164.2 million a year earlier.

Net in the quarter swung to a loss £6.2 million compared to profit of £42.5 million a year ago period.

BP Plc slid 0.8% to 469.65 pence after the U.K.-based oil and gas explorer reported sales in the fourth-quarter ending in December slid 0.2% to $93.7 billion from $93.9 billion a year ago.

Net income in the quarter declined 29% to $1.10 billion compared to $1.55 billion and diluted earnings per share dropped to $5.54 from $7.75 a year earlier.

NK Rosneft’ OAO gained 1.5% to 242.67 ruble and Russia-based oil and gas explorer reported revenue in the year ending in December soared 52% to 4.69 trillion ruble from 2.70 trillion ruble a year ago.

Net income for the year surged 51% to 551 billion ruble compared to 365 billion ruble a year earlier.

In 2013, the company repaid part of the loans to acquire TNK-BP assets in the amount of 166.9 ruble billion or $55 billion and plans to lower debt in a gradual manner.

UBS AG soared 5.7% to 18.44 francs after the Switzerland-based investment bank said revenue in the fourth-quarter ending in December grew 1.6% to 6.31 billion francs from 6.21 billion francs a year earlier.

Net in the quarter swung to profit of 917 million francs compared to a loss of 1.90 billion francs a year earlier.

The Swiss bank announced 67% increase in dividend to 0.25 francs in 2013 and cautioned about the first quarter performance.

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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