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Market Update

Europe Earnings: Alstom Plunges 12%, Unilever Net climbs 9%


Author: Nigel Thomas
ticker.com
Last Update: 10:12 AM ET January 21 2014

3:40 PM Frankfurt Alstom plunged 12% after it lowered fiscal outlook and revenue declined 2%. IMI will return 620 million to shareholders from the sale of beverage and merchandise divisions. Unilever net climbed 9% to 5 billion. Wirecard said quarterly revenues climbed 23%.

In London trading, FTSE 100 index rose 0.3% or 17 to 6,854.73 and in Frankfurt the DAX index jumped 0.6% or 59.33 to 9,775.23.

In Paris, CAC 40 index gained 0.5% or 21.31 to 4,344.17.

Alstom SA plunged 12.3% to 24.34 after the France-based transport and energy infrastructure developer reported revenue in the third-quarter declined 2.4% to 4.80 billion from 4.92 billion a year ago.

Alstom said orders booked soared 11% to 5.62 billion from 5.05 billion a year ago period.

As of December 31, the company added backlog was 51 billion, represented 30 months of sales.

For fiscal 2014, the group maintains its forecast of low-single digit sales growth. For the fiscal 2015 the operating margin are expected to be affected by lower sales in thermal power unt.

IMI Plc slid 2% to 1,548.40 pence after the U.K.-based engineering company said it will return 620 million or $1.02 billion to shareholders from the sale of its beverage-dispense and merchandising divisions.

Melrose Industries Plc, the private investment company said the board intends to use part of the net proceeds of these disposals following recent sale of 600 million businesses in cash to shareholders.

Unilever Plc gained 2.7% to 2,504 pence after the U.K.-based consumer goods maker reported revenue in the year ending in December dropped 3.2% to 49.8 billion from 49.8 billion a year ago.

Net profit in the year climbed 9% to 5.3 billion compared to 4.8 billion and diluted earnings per share jumped 11% to 1.66 from a year earlier.

The company added revenue in the fourth-quarter dropped 6% to 11.8 billion from 12.6 billion a year ago period.

Wirecard AG climbed 4.8% to 32.01 after the Germany-based electronic payment services provider said revenues in the fourth-quarter ending in December climbed 23% to 141.1 million from 115.1 million a year ago period.

Earnings before interest, taxes, depreciation and amortization for the quarter jumped 16% to 36.2 million compared to 31.1 million a year earlier.

The company expects 2014 EBITDA between 160 million and 175 million.

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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