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Market Update

Europe Earnings: Alstom, Experian, ING, Persimmon, Vestas

Author: Nigel Thomas
Last Update: 8:57 AM ET November 06 2013

4:25 PM Frankfurt Alstom profit dropped 3%. Experian suspends $500 million share buy-back program and agreed to acquire the U.S. healthcare data firm for $850 million. Moneysupermarket.com revenue surged 25%. ING net tumbled 85% to 101 million. Vestas Wind revenue fell 27%.

In London trading, FTSE 100 index rose 0.04% or 2.71 to 6,750 and in Frankfurt the DAX index gained 0.4% or 35.91 to 9,045.

In Paris, CAC 40 index jumped 0.9% or 36.70 to 4,290.

Alstom SA soared 5.6% to 28.62 after the France-based transport and energy infrastructure provider said sales in the first-half ending in September was nearly flat at 9.7 billion from a year earlier.

Net profit in the period dropped 3% to 375 million compared to 386 million and diluted earnings per share fell to 1.20 from 1.30 a year ago.

The company plans to raise as much as 2 billion euros from asset sales.

Experian Plc plunged 6.1% to 1,185.50 pence after the credit data provider suspended $500 million share buy-back program after it agreed to acquire the U.S. healthcare data firm for $850 million.

Revenue in the first-half ending in September grew 2.2% to $2.34 billion from $2.29 billion a year ago. Net in the period swung to a profit $336 million compared to a loss of $39 million and diluted earnings per share swung to a 33.8 cents from a loss of 7.2 cents.

Experian reported pre-tax-profit in the first-half rose 2% to $573 million and revenue from continuing businesses jumped 6%. Total EBIT from continuing operations rose 3% to $608 million.

Moneysupermarket.com Group Plc surged 19.2% to 185 pence after the U.K.-based online broker said group revenues surged above 25% from a year earlier and revenues in the money dropped to 4% but credit revenues climbed 11% from the same period of last year. Visitor volumes jumped at 5% from a year ago.

Insurance revenues for the period rose 2% and revenues from travel surged 35%. Home Services revenues climbed 11% a year ago period.

ING Groep NV climbed 4.9% to 9.74 after Netherlands-based financial services provider reported net income tumbled 84.7% to 101 million compared to 659 million and earnings per share declined 82.4% to 0.03 from 0.17 a year ago.

Group underlying net profit in the quarter climbed to 891 million from 844 million. The bank wrote-down 950 million on the sale of its South Korean life insurance unit and is likely to near the deal with the European Commission to sell above 50% of ING Life Japan by the end of 2015.

Persimmon Plc slipped 1.6% to 1,195 pence after the U.K.-based home builder said sales in the first-half increased for the current year to 650 million forward, a 41% increase on the comparable period a year ago.

Vestas Wind Systems A/S surged 15.3% to 167.60 kronor after the Denmark-based wind power turbine maker said revenue in the third quarter ending in September declined 27% to 1.44 billion.

The value of the wind turbine backlog was 7.3 billion and wind turbine order backlog for service agreements with contractual future revenue was 6.1billion. During the quarter, improvement of wind turbine orders and service agreements was 400 million.

The company lifted its fiscal outlook on EBIT margin in the range of 1% to 2% and free cash flow between 200 million from 500 million to 700 million.

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