4:00 PM Frankfurt BT Group fourth quarter profit slipped 5% to £687 million. TUI Travel said loss in the first-half narrowed to £261 million. UniCredit first quarter net swung to 914 million profit.
In London trading, FTSE 100 index rose 0.3% or 17.6 to 6,610 and in Frankfurt the DAX index up 0.2% or 13.7 to 8,276.
In Paris, CAC 40 index gained 0.4% or 15.2 to 3,944.
BT Group Plc
surged 10.5% to 304.67 pence after the UK based communications service provider reported revenue in the fourth quarter ending in March slid 2% to £4.79 billion. Profit for the quarter slipped 5% to £687 million compared to £724 million and earnings per share dropped 7% to 7.5 pence from 8.1 pence.
The company said more than 1.5 million homes and businesses are using fibre-based services and net connections more than doubled to 873,000 in the year.
Total number of broadband connections on network reached to 17.6 million and added 424,000 retail broadband customers in the year.
The Co-operative Bank Plc
tumbled 24.8% to 98.75 pence after the UK based banking and financial service provider commented on recent Moodys rating agency downgrade and said in a statement, We have strong funding profile and high levels of liquidity, which are significantly above the regulatory requirements and actions we will take to strengthen our balance sheet and simplify our business model.
The bank in a separate release added Rod Bulmer has assumed as chief executive officer replacing Barry Tootell.
TUI Travel Plc
gained 1.8% to 346.50 pence after the UK based tour operator said revenue in the first-half fell 1% to £5.40 billion. Loss for the period narrowed to £261 million compared to £290 million and diluted loss for the period dropped 23.6 pence from 26 pence.
Operating loss reduced by £43 million to £274 million and underlying operating loss was £289 million but travel firm expects full-year underlying profit growth of at least 10%.
jumped 2.7% to 4.17 after Italy based holding company said total revenues in the first quarter ending in March climbed 4.9% to 7.11 billion. Net in the quarter swung to 914 million profit compared to loss of 553 million.
The company said revenue from trading income segment in the quarter tumbled 49.4% to 1.28 billion from 650 million but other revenues plunged 35% to 97 million compared to 116 million a year ago period.
Customer loans at the end of year fell 1.8% to 537.5 billion and gross impaired loans rose 2.2% to 81.5 billion.
For the second quarter in a row, slowdown of both gross and net new inflows of impaired loans is confirmed in Italy.