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Market Update

Europe Earnings: Anite, Experian, Old Mutual, Snam, SuperGroup, Morrison

Author: Nigel Thomas
Last Update: 11:29 AM ET May 09 2013

3:00 PM Frankfurt – Anite forecast lower fiscal revenue. Eni SpA sold 11.7% in Snam SpA for €1.46 billion. Experian first quarter profit plunged 43%. Old Mutual sales climbed 14% £5.60 billion. Wm Morrison annual profit dropped 6% to £647 million.

In London trading, FTSE 100 index gained 0.4% or 25.7 to 6,583 and in Frankfurt the DAX index rose 0.7% or 58.8 to 8,240.

In Paris, CAC 40 index increased 0.7% or 27.4 to 3,949.

Anite Plc jumped 5.3% to 127.90 pence after the UK based hardware and software provider said for the fiscal year ending in April revenue will be slightly below market expectations, but margins in the final quarter were strong across all three businesses.

Network testing revenues in second-half in progress and profit grew in line with the mid to high single digit growth rates and. travel profit equaled that achieved last year.

Experian Plc climbed 4.9% to 1,229.36 pence after the UK based personal financial data provider reported revenue in the year ending in March jumped 5.3% to $4.73 billion. Profit for the year plunged 43.4% $406 million compared to $718 million and 36.4 cents from 65.1 cents.

Old Mutual Plc jumped 2.8% to 221.50 pence after the UK based investment and insurance company stated gross sales in the first quarter climbed 14% to £5.60 billion in the life.

Total non-covered sales grew 5% to £3.32 billion and savings businesses and funds under management jumped 7% to £288.4 billion.

The financial group directive surplus was £2 billion at the end of March and group’s exposure to French sovereign debt was £4.7 million.

Snam SpA declined 4.4% to €3.68 after the Italy based oil company Eni SpA completed the sale of 395.25 million shares or 11.69% stake in the company for €1.46 billion at a price of €3.69 per share.

Eni will hold 8.54% of the company underlying the €1.25 billion convertible bond placed in January 2013 and due on January 18, 2016.

SuperGroup Plc gained 1.3% to 729.50 pence after the UK based retailer said total group sales for the quarter ending in February soared 15.3% to £86.8 million and sales for the year jumped 14.7% to £360.1 million.

Total retail sales in the quarter climbed 10.9% to £43.8 million and like-for-like sales grew 5%. For the full year total sales surged 18.3%.

Wholesale division sales for period advanced 20.2% to £43.0 million.

Wm Morrison Supermarkets Plc dropped 2.8% to 288.08 pence after the UK based food retailer reported total sales in the first quarter rose 0.6% to and like-for-like sales slipped 1.8%.

The retailer said total sales for the fiscal 2013 grew 2.6% to £18.12 billion and profit for the year dropped 6.2% to £647 million compared to £690 million and diluted earnings per share increased 27.17 pence from 24.93 pence.

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