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Market Update

Europe Earnings: ASML, Anite, Danone, IMI, Publicis, LVMH, Smiths News

Author: Nigel Thomas
Last Update: 10:31 AM ET October 16 2013

4:25 PM Frankfurt ASML Holding plunged 13%. Danone reported flat third quarter revenues. IMI agreed to sell beverage division for 690 million in cash. Publicis revenue rose and LVMH revenue grew. Smiths News profit jumped.

In London trading, FTSE 100 index fell 0.2% or 14.02 to 6,535 and in Frankfurt the DAX index slid 0.04% or 3.81 to 8,801.

In Paris, CAC 40 index slipped 0.7% or 24 to 4,226.

ASML Holding N.V. slumped 2.2% to 70.17 after the Netherlands-based integrated circuit maker reported sales in the third quarter ending in September climbed 11% to 1.32 billion from 1.19 billion a year earlier.

Net profit for the period plunged 12.6% to 193 million compared to 274.7 million and diluted earnings per share dropped 43 pence from 65 pence a year ago period.

The company added new orders for the third quarter excluding EUV was 1.42 billion compared to 1.07 billion.

ASML expects net sales for the year increase to 5.2 billion and fourth-quarter net sales about 1.8 billion.

Anite Plc tumbled 31.9% to 76.53 pence after the hardware and software solution provider lowered its revenue for first-half in handset testing to fall approx 25% from 40.5 million of last year.

The company said sales are not expected to recover in the second half and reduced its expectations for the full-year.

Danone SA dropped 3.9% to 50.93 after the France-based milk products maker reported revenue in the third quarter ending in September was flat at 5.26 billion and comparable sales in the quarter increased 4.2%.

IMI Plc increased 1.3% to 1,518 pence after the U.K.-based engineering company said revenues in the third quarter ending in September grew 4% compared to last year and 1% lowered from year to date.

Separately, the company agreed to sell its beverage dispense and merchandising businesses to Berkshire Hathaway for 690 million in cash.

Publicis Groupe SA slipped 2.7% to 58.02 after the France-based communication company said revenue in the third quarter ending in September increased 3% to 1.68 billion from 1.63 billion a year ago.

The company and U.S. based Omnicom Group Inc. agreed to merge and has started the merger process.

LVMH Moet Hennessy Louis Vuitton SA declined 6.2% to 135.85 after the France-based luxury goods maker reported total revenue in the third-quarter rose 1.7% to 7.02 billion from 6.9 billion a year ago period.

Smiths News Plc climbed 5.6% to 204.81 pence after the newspaper and magazine wholesaler reported revenue in the year ending in August rose 0.4% to 1.81 billion from 1.80 billion a year ago.

Profit for the year jumped 13% to 31.1 million compared to 27.5 million and diluted earnings per share increased to 16 pence from 14.7 pence a year earlier.

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