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: BSkyB Net Up 9%, Sanofi Sales Fall


Author: Nigel Thomas
ticker.com
Last Update: 10:24 AM ET May 02 2013

3:00 PM Frankfurt – British Sky Broadcasting said net income for the nine-month period increased 9% to £736 million. Inmarsat first-quarter profit plunged 38%. Sanofi first quarter net tumbled 45% to €1 billion.

In London trading, FTSE 100 index fell 0.3% or 19.5 to 6,432 and in Frankfurt the DAX index gained 0.3% or 26 to 7,940.

In Paris, CAC 40 index slipped 0.5% or 17.4 to 3,839.

British Sky Broadcasting Group plc rose 0.7% to 850.50 pence after the UK based television service provider reported revenue for the nine-month period ending in March jumped 6% to £5.38 billion and profit for the period climbed 9% to £736 million compared to £689 million and diluted earnings per share advanced 44.9 pence from 39.5 pence.

The Sky said operating profit for the period climbed 9% to £994 million.

The television broadcaster added broadband service revenue surged 13.7% to £4.39 billion and revenue from the telephony soared 16% to £4.21 billion. Line rental revenue for the period climbed 20.1% to £4.06 billion.

Inmarsat Plc plunged 8.9% to 682.50 pence after the UK based communication service provider reported total revenue in the first quarter ending in March declined 11.6% to $313.7 million and total revenue for the Inmarsat Global revenues dropped 16.6% to $197.5 million.

Profit for the quarter plunged 37.6% to $64.9 million compared to $104 million and

Inmarsat Global MSS revenues grew 3.7% to $184.6 million and Inmarsat Solutions revenues fell 0.7% to $189.5 million.

Glencore International plc soared 5.1% to 330.35 pence after the Switzerland based metals and mining company said its merger with Xstrata is complete and effective as of today.

The justice department of England and Wales today issued an order confirming the reduction of Xstrata''s share capital as part of the all-share merger of Xstrata and Glencore.

The new company name to “Glencore Xstrata plc” is expected to become effective in Jersey later today. Total number of voting rights in Glencore reached to 13,263,405,466.

Glencore Xstrata will begin trading on the London Stock Exchange from May 3 and on Hong Kong Stock Exchange from May 6. Trading in Xstrata shares are expected to be cancelled from May 3.

Sanofi SA fell 0.6% to €82.75 after the France based healthcare company reported net sales in the first-quarter ending in March declined 5.3% to €8.06 billion. Net income in the quarter tumbled 44.7% to €1 billion compared to €1.81 billion and earnings per share dropped to €0.76 from €1.37.

Sanofi added sales in emerging markets jumped 6.5% to €2.72 billion accounting for 33.7% of total group sales and sales in BRIC countries climbed 10.7%.

Diabetes recorded another strong quarter with sales soared 19.6% to €1.54 billion and consumer healthcare sales rose 3.1% to €811 million and vaccines sales jumped 15.9% to €697 million.

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