S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Europe Earnings: BMW, Interservec, Rentokil, Thyssenkrupp


Author: Nigel Thomas
ticker.com
Last Update: 10:35 AM ET August 14 2013

4:00 PM Frankfurt – BMW climbed 9% to €1.39 billion as sales grew 2%. Interservec net jumped 16% to £29.9 million and secured defense contract worth £110 million. Rentokil net swung to a loss. Thyssenkrupp third quarter net swung to a loss €362 million.

In London trading, FTSE 100 index slid 0.1% or 7.74 to 6,604 and in Frankfurt the DAX index edged up 0.07% or 6.05 to 8,422.

In Paris, CAC 40 index gained 0.3% or 13.69 to 4,106.

Bayerische Motoren Werke AG rose 0.4 to €74.30 after the Germany based automobile company reported group revenues in the second quarter ending in June grew 1.8% to €19.55 billion from €19.20 billion a year ago period.

Net profit in the second quarter climbed 9% to €1.39 billion compared to €1.28 billion. Profit before tax, remained higher in the second quarter increased 2.8% to €2.03 billion.

The company said sales in the first-half jumped 9.7% to 64,941 units from 59,189 units.

Interserve Plc jumped 3.3% to 552.78 pence after the UK based construction company said revenue in the first-half ending in June climbed 8.6% to £1.07 billion from £984 million a year ago earlier.

Profit for the period jumped 15.9% to £29.9 million compared to £25.8 million and diluted earnings per share fell to 17.1 pence from 18.2 pence a year ago.

The company added new contracts above £1.5 billion and increasing workload to £6.7 billion.

In separate news, today the company said its subsidiary, Landmarc Support Services secured contract worth £110 million with the U.K.’s Ministry of Defence up to July 2014, with the option to extend up to six months to February 2015.

Rentokil Initial Plc surged 8.1% to 104.90 after the UK based business support service provider said revenue in the first-half ending in June jumped 5.3% to £1.17 billion from £1.11 billion a year ago earlier.

Net for the period swung to a loss £10.5 million compared to net profit of £34.5 million and diluted loss per share swung to a 2.19 pence from earnings of 2.74 pence a year ago.

Thyssenkrupp AG slumped 2.1 to €16.49 after the Germany based steel producer said total sales in the third quarter ending in June dropped 8% to €9.50 billion from €10.36 billion a year earlier.

Net in the quarter swung to a loss €362 million compared to a net profit of €109 million and diluted loss per share €0.70 from earnings of €0.21 a year ago.

ThyssenKrupp expects the group sales in the fourth quarter to higher than the third quarter but for the year sales will be declined from €40.1 billion of last year.

For the year, group’s adjusted EBIT from the continuing operations expected to about €1 billion.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc