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Market Update

Europe Earnings: Airbus, Monte dei Paschi, easyJet, ThyssenKrupp, UniCredit

Author: Nigel Thomas
Last Update: 8:22 AM ET May 13 2014

4:00 PM Frankfurt Airbus profit climbed 93% to 439 million. Banca Monte dei Paschi net loss widened to 174 million as revenue declined 25%. easyJet net loss narrowed to 41 million. ThyssenKrupp net swung to profit 200 million. UniCredit profit surged 59% to 712 million.

In London trading, FTSE 100 index slid 0.1% or 8.51 to 6,864.01 and in Frankfurt the DAX index rose 0.1% or 10.68 to 9,765.11.

In Paris, CAC 40 index slipped 0.1% or 4.53 to 4,500.41.

Airbus Group NV surged 6.4% to 52.66 after the Netherlands-based aerospace and defense services provider reported revenue in the first-quarter ending in March jumped 5% to 12.65 billion from 12.09 billion a year ago.

Net income in the quarter climbed 93% to 439 million compared to 227 million and earnings per share rose to 0.56 from 28 a year earlier.

Banca Monte dei Paschi di Siena SpA slid 0.4% to 6.42 after the Italy-based bank reported net interest income in the first-quarter ending in March declined 25.4% to 446 million from 597.7 million a year ago.

Net loss in the quarter widened to 174.1 million compared to 101.2 million a year earlier.

easyJet Plc declined 4.4% to 1,654 pence after the U.K.-based airline company said total revenue climbed 6.3% to 1.70 billion from 1.60 billion a year ago.

Net loss for the period narrowed to 41 million compared to 47 million and loss per share slipped to 10.4 pence from 12 pence a year earlier.

ThyssenKrupp AG climbed 5.2% to 22.38 after the Germany-based steel producer reported revenue in the first-half ending in March jumped 4% to 19.40 billion from 18.76 billion a year ago period.

Net in the period swung to a profit 200 million compared to a loss of 145 million and earnings per share swung to a 0.37 from a loss of 0.26 a year earlier.

Order intake in the first-half from continuing operations jumped 6% to 20.9 billion and group net financial debt significantly dropped to 4 billion from 5.3 billion a year earlier.

UniCredit SpA slipped 1% to 6.24 after the Italy-based investment bank reported revenue in the first-quarter ending in March dropped 3.6% to 5.58 billion from 5.78 billion a year ago.

Net profit in the quarter surged 58.8% to 712 million compared to 449 million a year ago period.

The bank said bad debts dropped for first time since 2008 and new loans in Italy climbed 63% to 2.7 billion. Total outstanding customer loan rose 0.3% to 432.5 billion from last quarter.

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