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Market Update

Europe Earnings: Barclays, Heineken, ICAP, Johnson Matthey

Author: Nigel Thomas
Last Update: 9:31 AM ET June 06 2013

3:20 PM Frankfurt Barclays dropped after Sumitomo Mitsui sold its stake for 260 million. Johnson Matthey profit for the year declined 12.5% to 275.8 million. Network Rail profit for the year dropped 8.1% to 699 million.

In London trading, FTSE 100 index slid 0.2% or 15.41 to 6,404 and in Frankfurt the DAX index edged lowered 0.6% or 4.95 to 8,191.

In Paris, CAC 40 index rose 0.1% or 5.92 to 3,858.

Barclays Plc dropped 2.3% to 308.90 after the Japan based Sumitomo Mitsui Banking Corp. sold 84.5 million shares at 308.5 pence, stake valued 260 million or $400 million in the financial services provider.

Heineken NV gained 1.6% to 53.32 after Netherland based brewer maker select Orange Business Services to unify its global communications infrastructure to connect 60,000 employees across more than 1,100 sites in 53 countries for 5 years multi-million euro contract.

ICAP Plc climbed 4.9% to 379.70 after the UK based brokerage firm said TriOptima will assist and verify and reconcile over-the-counter derivatives data submitted to DTCC.

Johnson Matthey Plc surged 6.5% to 2,755 pence after the UK based specialty chemicals maker reported revenue in the year ending in March dropped 11% to 10.73 billion from 12.02 billion. Profit for the year declined 12.5% to 275.8 million compared to 315.4 million and diluted earnings per share slid 133.5 pence from 146.9 pence.

Underlying profit slumped 9% to 389.2 million compared to 426 million and sales excluding precious metals were flat at 2.7 billion.

Services businesses sales at precious metal products division slipped 6% and underlying operating profit plunged to 27%.

The chemical maker said underlying results from fine chemicals division was in-line with last year and sales fell 3% but operating profit rose 2%.

Network Rail Infrastructure Limited, the UK based railway operator said revenue in the year ending in March increased 6.2 billion from 6 billion. Profit for the year dropped 8.1% to 699 million compared to 761 million.

Network Rail''s net debt in fiscal 2013 jumped to 30 billion from 27.28 billion in last year.

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