3:00 PM Frankfurt Aurubis second quarter net declined 80% and ICAP net for the year plunged 18%. Intesa Sanpaolo first quarter net tumbled 62%. Tata Steel wrote off $1.6 billion for its Corus purchase and blamed on European steel demand weakness.
In London trading, FTSE 100 index gained 0.6% or 39.1 to 6,671 and in Frankfurt the DAX index increased 0.6% or 45.8 to 8,325.
In Paris, CAC 40 index rose 0.3% or 11.2 to 3,956.
plunged 7.5% to 45.58 after the Germany based refined copper producer said revenue in the second quarter slipped 9% to 3.31 billion. Net income for the quarter declined 80% to 27 million compared to 136 million and diluted earnings per share declined 0.59 from 3.01.
Aurubis said revenues for the group in the first-half fell 1% to 6.71 billion compared to 6.80 billion a year earlier.
soared 13.4% to 337.15 pence after the UK based brokerage group reported revenue for the year ending in March declined 12% to £1.47 billion. Profit for the year plunged 18.5% to £211 million compared to £259 million and diluted earnings per share dropped 6.6 pence from 20.8 pence.
Intesa Sanpaolo SpA
gained 1.9% to 1.41 after the Italy based banking group said net interest income in the first quarter dropped 19.2% to 2.02 billion. Net income for the quarter tumbled 61.9% to 306 million compared to 804 million and diluted earnings per share declined 0.02 from 0.05.
Severn Trent Plc
surged 14.01 to 2,079.02 pence after the waste water treatment provider received an approach with a proposal from a consortium of Canada''s Borealis, the Kuwait Investment Authority and Universities Superannuation Scheme are at a very early stage. The consortium is reported to have offered £5.3 billion for the company.
Tata Steel Limited
, the India based steel producer expects non-cash write down of approx £1 billion or 1.34 billion, the largest write-down in Indian corporate history.
Tata Steel purchased the Anglo-Dutch steelmaker Corus in 2008 for $13.7 billion and is struggling with its European division mainly due to weak European markets. In February, the companys European operations reported a loss of £50 million.
The company added that last year European steel demand dropped by 8%.
Shares of Tata Steel dropped as much as 3% in before market open in Mumbai and closed down at 0.6%.