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Market Update

Europe Earnings: Barclays, Deutsche Telekom, Nestle, Securitas, Vodafone

Author: Nigel Thomas
Last Update: 11:11 AM ET February 10 2014

3:40 PM Frankfurt – Barclays expects adjusted pretax profit for the year to drop 26%. Deutsche Telekom acquired remaining stake of 39% of T-Mobile Czech Republic for €0.8 billion. Nestle plans to reduce its stake in L’Oreal. Securitas net surged to 495 million kronor.

In London trading, FTSE 100 index rose 0.1% or 9.04 to 6,580.72 and in Frankfurt the DAX index slid 0.01% or 1.07 to 9,300.85.

In Paris, CAC 40 index gained 0.4% or 18.62 to 4,246.80.

Barclays Plc gained 275.21 pence after the U.K.-based financial services provide expects adjusted pre-tax profit for the year ending in December plunge 26% to £5.2 billion from £7.05 billion a year ago.

Deutsche Telekom AG fell 0.7% to €11.68 after the Germany-based telecommunications provider reported it acquired remaining stake of 39.23% of T-Mobile Czech Republic for €0.8 billion.

Nestle SA rose 0.07% to 67.65 francs after the Switzerland-based food and beverage maker plans to reduce its stake of $30 billion in France-based cosmetics maker L’Oreal SA.

Securitas AB dropped 2.3% to 66.55 kronor after the Sweden-based security solution provider reported total sales in the fourth-quarter ending in December were flat at 16.72 billion kronor from a year ago.

Net income in the quarter surged to 495 million kronor compared to 67 million kronor and earnings per share jumped to 1.35 kronor from 0.19 kronor a year earlier.

Vodafone Group plc rose 0.4% to 222.87 pence after the U.K.-based telecom group is in talk with Spain-based cable company Grupo Corporativo ONO SA for a potential acquisition.

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