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Market Update

Europe Earnings: Barclays, Guardian News, L'Oreal, Smiths Group


Author: Nigel Thomas
ticker.com
Last Update: 11:28 AM ET July 17 2013

3:20 PM Frankfurt U.S. federal energy regulator fined Barclays for 299.8 million. Guardian News annual revenue was flat at 206.8 million and net swung to profit. L''Oreal sales jumped 6.4% to 11.7 billion. Smiths Group expects operating profit for the year of 562 million.

In London trading, FTSE 100 index rose 0.4% or 29.09 to 6,585 and in Frankfurt the DAX index jumped 0.5% or 53.97 to 8,255.

In Paris, CAC 40 index gained 0.6% or 23.69 to 3,875.

Barclays Plc gained 1.2% to 311.85 pence after the UK bank and four of its traders find from the U.S. federal energy regulator to pay 299.8 million or $453 million for manipulating electricity prices in California and other western markets between 2006 and 2008.

The Guardian News & Media Limited after the UK based media company reported revenue from continuing businesses in the year ending in March was flat at 206.8 million from a year ago. Pre-tax profit swung to 22.7 million compared to loss of 19.8 million.

Guardian News & Media revenue 196.3 million from 194.4 million and its digital revenue surged 28.9% to 55.9 million.

The first newspaper was launched on May 5, 1821 and today the media has more than 40 million readers.

L''Oreal SA slid 0.7% to 127.75 after the France based cosmetic group said sales in the first-half ending in June jumped 6.4% to 11.7 billion and like-for-like sales climbed 5.4%. Group total sales soared 5.02% to 5.81 billion.

Smiths Group Plc slipped 1.2% to 1,374 pence after the UK based security equipment maker lowered its operating profit for the year to 562 million as contracts at one of its unit that contributes 17% of group revenue is expected report losses.

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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