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Market Update

Europe Earnings: Alfa Laval, GSK, Quindell, Swatch, Syngenta

Author: Nigel Thomas
Last Update: 9:33 AM ET February 05 2014

3:40 PM Frankfurt Alfa Laval net dropped 5% but sales jumped 9%. GSK profit surged to 2.5 billion. Quindell contracted above 200 million of outsourcing business. Swatch Group net soared 20% after revenue climbed 9%. Syngenta net plunged 11% and sales grew 3%.

In London trading, FTSE 100 index increased 0.4% or 24.85 to 6,474.12 and in Frankfurt the DAX index rose 0.02% or 2.13 to 9,130.04.

In Paris, CAC 40 index gained 0.1% or 6.05 to 4,123.50.

Alfa Laval AB soared 6% to 165 kronor after the Sweden-based heat exchanger maker said net sales in the fourth-quarter ending in December increased 9% to 8.65 billion kronor from 8.12 billion kronor a year earlier.

Net income in the quarter dropped 5.1% to 871 million kronor compared to 918 million kronor and earnings per share fell to 2.07 kronor from 2.17 kronor a year ago.

GlaxoSmithKline Plc gained 2.1% to 1,586.50 pence after the U.K.-based healthcare group reported sales in the fourth-quarter ending in December rose 1.6% to 6.91 billion from 6.80 billion a year ago.

Profit in the quarter surged to 2.51 billion compared to 823 million and diluted earnings per share climbed to 50.4 pence from 17.3 pence a year earlier.

Quindell Plc declined 5.4% to 33.59 pence after the U.K.-based software and consulting service provider contracted above 200 million of outsourcing business since pre-close in mid-January 2014.

The Swatch Group Ltd climbed 4.4% to 556 francs after the Switzerland-based watches and accessory maker reported net sales for the year ending in December jumped 8.5% to 8.46 billion francs compared to 7.80 billion francs a year earlier.

Net income in the year soared 20.2% to 1.93 billion francs compared to 1.60 billion francs

Syngenta AG dropped 3.1% to 307 francs after the Switzerland-based fertilizer maker reported sales in the year ending in December jumped 3% to $14.7 billion from $14.2 billion a year ago period.

Net income in the year plunged 11% to $1.64 billion compared to $1.85 billion and earnings per share declined 12% to $19.30 from $22.03 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