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Market Update

Europe Earnings: Airbus, Bwin.party, Michael Page, SSAB, Volkswagen


Author: Nigel Thomas
ticker.com
Last Update: 11:36 AM ET July 15 2014

4:00 PM Frankfurt Airbus signed major orders for A320 Family aircraft at the Farnborough International Airshow 2014. Bwin.party Digital revenue climbed 44% to 105 million. Michael Page gross profit rose 2% to 137 million. Volkswagen plans to cut costs for about 5 billion from 2017.

In London trading, FTSE 100 index slipped 0.3% or 20.41 to 6,725.73 and in Frankfurt the DAX index fell 0.4% or 36.06 to 9,746.95.

In Paris, CAC 40 index dropped 0.7% or 29.83 to 4,320.21.

Airbus Group NV slid 0.5% to 46.85 after the Netherlands-based aerospace and defense group signed an agreement with Malaysia-based AirAsia for 50 A330neo jets for $12 billion at list prices.

Separately, the company signed deal with leasing company Avolon for 15 of the same A330neo jets.

In separate news, the company reported BOC Aviation the Singapore-based aircraft leasing, subsidiary of Bank of China ordered for an additional 43 A320 Family aircraft.

SMBC Aviation Capital signed a major firm order for 115 A320 Family aircraft at the Farnborough International Airshow 2014.

Bwin.party Digital Entertainment Plc fell 0.5% to 85.80 pence after the U.K.-based online gaming company said total revenue in the first-half climbed 44.2% to 105.1 million compared to 72.9 million and net gaming revenue in the quarter of 54.8 million or 602,000 per day from a year ago period.

Michael Page International Plc jumped 2.4% to 438.20 pence after the U.K.-based recruitment consultancy reported gross profit for the second-quarter rose 1.5% to 137.2 million from 135.1 million a year ago.

SSAB AB rose 0.3% to 65.05 kronor after the Sweden-based steel producer received the European Commission''s approval to bid for Finland-based rival Rautaruukki Corporation to sell five businesses in Finland, Sweden and Norway worth $1.6 billion.

Volkswagen AG rose 0.5% to 186.65 after the Germany-based automobile company plans to cut costs at its core namesake brand for about 5 billion or $6.8 billion per year from 2017.

Scania unit reported second-quarter record production of 20,987 units compared to 20,694 units a year ago period.

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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