S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Europe Earnings: Air France, Fugro, Getinge, MoPowered, Telecom Italia

Author: Nigel Thomas
Last Update: 12:29 PM ET March 07 2014

4:00 PM Frankfurt – Air France said passenger traffic in February grew 1.4%. Fugro profit soared 39% after revenue climbed and net debt ratio held beow target. Getinge tumbled after first-quarter guidance and outlook for the next several quarters. MoPowered won 20 new clients.

In London trading, FTSE 100 index dropped 0.7% or 44.01 to 6,744.48 and in Frankfurt the DAX index declined 1.5% or 140.65 to 9,402.22.

In Paris, CAC 40 index slipped 0.7% or 31.12 to 4,385.92.

Air France – KLM surged 6% to €10.56 after the France-based airline said passenger traffic in February rose 1.4%, on the increase in long and medium-haul flights. The airline carried 5.34 million passengers in February, a growth of 1.8% from a year ago.

Fugro N.V declined 4.1% to €39.96 after the Netherlands-based geological survey services provider reported revenue in the year ending in December climbed 12% to €2.42 billion from €2.16 billion a year ago.

Profit in the year soared 39.5% to €417.9 million compared to €299.6 million and diluted earnings per share jumped to €5.27 to €3.58 a year earlier.

Backlog in 2014 is €1.80 billion or 19% higher than a year ago.

Fugro said its net debt to EBITDA ratio of 1.53 was well below its the target of less than 2.

Getinge AB tumbled 19.9% to 186.30 kronor after the Sweden-based healthcare company estimated pre-tax profit for the first-quarter of 160 million kronor.

The company said costs of consultant support is expected at 125 million kronor per quarter from the first quarter of 2014 and is anticipated to remain at that level for the next six to seven quarters.

MoPowered Group Plc climbed 9% to 115 pence after the U.K.-based mobile commerce specialist won 20 new clients including multi-chain books retailer “The Works” and online fashion seller “Atterley Road” in the first two months of this year.

Telecom Italia SpA dropped 2% to €0.821 after the Italy-based phone company reported revenue in the year ending in December declined 9.1% to €23.41 billion from €25.76 billion a year earlier.

Loss for the year narrowed to €238 million compared to €1.28 billion a year ago.

Adjusted net financial debt as of year-end in December was €26.81 billion euros, down €1.47 billion.

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