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Market Update

Europe Earnings: BNP Paribas, Bouygues, Burberry, EADS, K+S, Nordex


Author: Nigel Thomas
ticker.com
Last Update: 9:40 AM ET November 14 2013

3:10 PM Frankfurt – BNP Paribas to acquire 25% stake in Fortis Bank for €3.25 billion. Bouygues net dropped 20%. Burberry profit jumped 32%. EADS net surged 45%. K+S quarterly revenues declined 11%. Nordex lifted order forecast. Ophir Energy sold 20% stake in Tanzanian oil fields.

In London trading, FTSE 100 index gained 0.8% or 53.08 to 6,683 and in Frankfurt the DAX index increased 0.7% or 59.59 to 9,114.

In Paris, CAC 40 index rose 0.6% or 26.47 to 4,266.

BNP Paribas SA jumped 2.1% to €54.03 after the France-based bank plans to acquire 25% stake of The Belgian State’s Fortis Bank Belgium for a price of €3.25 billion as the Belgium government seeks to reduce the public debt.

Bouygues SA soared 7.4% to €29.82 after the France-based telecommunications, media and construction group said sales in the third-quarter ending in September were flat at €9.6 billion from a year ago.

Net income in the quarter dropped 20.1% to €286 million compared to €360 million a year earlier period.

Burberry Group Plc increased 1.6% to 1,486 pence after the U.K.-based luxury apparel and accessory maker said revenue in the first-half ending in September jumped 17% to £1.03 billion from £883 million a year earlier.

Profit for the period climbed 32.6% to £112.7 million compared to £85 million and diluted earnings per share jumped to 25.2 pence from 19.1 pence a year ago period.

Centrica Plc declined 5.6% to 343.50 pence after the U.K.-based energy company said full-year profits from British Gas business division expected to be ""significantly lower"" than in 2012.

At the end of October, group net debt stood at £4.3 billion, before the Hess Energy Marketing acquisition.

EADS NV gained 2.2% to €52.89 after the Netherlands-based aerospace and defense services provider reported revenue in the third-quarter ending in September climbed 11% to €13.6 billion from €12.3 billion a year ago.

Net income in the quarter surged 45% to €436 million compared to €301 million and earnings per share jumped 49% to €0.55 from €0.37 a year earlier.

The company added order-intake more than doubled to €138.2 billion from €50.4 billion and at the end of September order book value reached to €642.5 billion.

K+S AG rose 0.2% to €20.58 after the Germany-based potash and magnesium producer said revenues in the third quarter declined 11% to €817.7 million and operating earnings EBIT I plunged to €116 million compared to €156 million a year ago.

The company said operating earnings EBIT for the year of the K+S Group to exceed €600 million compared to €804.1 million a year earlier.

Nordex SE soared 4.6% to €12.16 after the Germany-based wind energy system maker lifted order forecast for the year between €1.4 billion and €1.5 billion and sales for the year forecasted in the range of €1.3 billion to €1.4 billion.

Ophir Energy Plc surged 12.3% to 369.44 pence after the U.K.-based oil and gas explorer agreed to sell its 20% stakes in three gas blocks in Tanzanian to Pavilion Energy for total consideration of $1.29 billion.

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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