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Market Update

Europe Earnings: ASDA, ASML Holding, Maersk, Telekom Austria


Author: Nigel Thomas
ticker.com
Last Update: 11:36 AM ET August 16 2013

4:00 PM Frankfurt ASDA said second quarter comparable sales rose 0.7%. Maersk profit for the year declined 13% to 4.89 billion kroner as revenue dropped 9% and estimated global demand for ocean freight to rise 2% to 3%. Telekom Austria plan to sell new equity worth 1 billion.

In London trading, FTSE 100 index rose 0.04% or 2.91 to 6,486 and in Frankfurt the DAX index slid 0.01% or 1.21 to 8,375.

In Paris, CAC 40 index gained 0.3% or 12.96 to 4,106.

ASDA Group Limited, the discount retailer said sales declined in the second quarter on price cuts of 100 million. The supermarket chain said like-for-like sales in the quarter rose 0.7%, but dropped from 1.3% in the first quarter of this year.

AP Moeller - Maersk A/S surged 7.2% to 45,640 kroner after Denmark based shipping and logistics reported revenue in the second quarter dropped 9% to 80.94 billion kroner from 88.91 kroner a year ago. Profit for the year declined 13% to 4.89 billion kroner compared to 5.60 kroner a year earlier.

The shipping and logistics expects profit excluding impairment losses and divestment for the year to increase to 3.5 billion kroner from earlier guidance of 2.9 billion kroner.

Maersk Line today revised its forecast for global demand for seaborne containers to grow 2% to 3% in 2013.

ASML Holding N.V. slid 1% to 68.55 after the U.S. rival Applied Materials Inc. expects revenue in the fiscal-fourth quarter likely to slip on weak demand.

Telekom Austria AG dropped 2.8% to 5.57 on the reports that the Austria based telecommunications provider plan to sell new equity worth 1 billion.

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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