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Market Update

Europe Earnings: Asos, easyJet, Lloyds, Smith & Nephew, Wincanton


Author: Nigel Thomas
ticker.com
Last Update: 11:37 AM ET June 05 2014

4:00 PM Frankfurt Asos tumbled despite total revenue soared 26% to 2.5 billion. easyJet passenger count in May increased 7.9%. Lloyds agreed to sell its real estate loans business for 352 million. Smith & Nephew jumped on takeover speculation. Wincanton profit surged.

In London trading, FTSE 100 index slid 0.03% or 2.29 to 6,816.34 and in Frankfurt the DAX index rose 0.1% or 11.21 to 9,937.88.

In Paris, CAC 40 index gained 1% or 44.44 to 4,545.44.

Asos Plc tumbled 31.2% to 3,113 pence after the U.K.-based online fashion retailer reported total group revenue in the first-quarter ending in May soared 26% to 2.48 billion from 1.97 billion a year ago period.

The retailer said sales in Europe climbed 37% and the U.S. and international sales jumped 17% each.

The company added active customers as of quarter ended in May surged 32% to 8.6 million from a year earlier.

easyJet Plc slipped 1.2% to 1,572 pence after the U.K.-based airline in May carried 6.05 million passengers compared to 5.61 million a year ago, an increase of 7.9%. Load factor rose to 89.4% in May, up 1.3% from 88.1%.

Investment Kinnevik AB declined 4.6% to 259.50 kronor after the Sweden-based investment company plans to acquire Germany-based privately held online shoe and clothing retailer Zalando AG.

Lloyds Banking Group Plc rose 0.8% to 78.68 pence after the U.K.-based financial services provider said it will sell its UK commercial real estate loans business to Promontoria Holding 109 B.V., an affiliate of Cerberus Global Investors for 352 million in cash.

Smith & Nephew Plc climbed 3.9% to 1,106 pence on media reports that the U.S.-based two medical devices maker Medtronic Inc and Stryker Corporation intends to make takeover offer.

Wincanton Plc surged 9% to 129.75 pence after the U.K.-based supply chain solution provider reported revenue in the year ending in March edged up 0.9% to 1.10 billion from 1.09 billion a year ago.

Profit in the year soared 171.3% to 27.4 million compared to 10.1 million and earnings per share soared to 21.7 pence from 8.4 pence a year earlier.

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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