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Market Update

Europe Earnings: CML Microsys, Carclo, Phoenix IT Group, Tesco

Author: Nigel Thomas
Last Update: 12:04 PM ET June 10 2014

4:00 PM Frankfurt CML Microsystems profit climbed 18% and revenue fell 1%. Carclo profit surged 48%. Phoenix IT Group pre-tax loss narrowed to 29 million. Tesco launched banking services at stores.

In London trading, FTSE 100 index fell 0.2% or 12.17 to 6,862.83 and in Frankfurt the DAX index gained 0.1% or 11.71 to 10,020.34.

In Paris, CAC 40 index inched up 0.02% or 1.10 to 4,590.22.

CML Microsystems Plc tumbled 21.9% to 420 pence after the U.K.-based semiconductor products maker said revenue in the year ending in March fell 1% to 24.4 million from 24.6 million a year ago.

Profit in the year climbed 17.8% to 4.8 million compared to 4.05 million and diluted earnings per share jumped to 29.20 pence from 25.18 pence a year earlier.

Carclo Plc rose 0.8% to 125.50 pence after the U.K.-based plastic products maker stated total revenue in the year ending in March jumped 5% to 97.3 million from 86.5 million a year ago.

Profit in the year surged 48.3% to 4.77 million compared to 3.22 million and basic earnings per share increased to 5.5 pence from 4.3 pence a year earlier.

Phoenix IT Group Plc declined 3.2% to 91 pence after the U.K.-based IT services and consulting services provider reported group revenue in the year ending in March declined 6.7% to 233.4 million from 250 million a year ago period.

Pre-tax loss in the year narrowed to 29.2 million compared to 58.8 million and diluted loss per share dropped to 40 pence from 79.1 pence a year earlier.

Tesco Plc gained 0.3% to 294.90 pence after the U.K.-based grocery retailer today launched its banking services at store locations.

The chief executive officer of Tesco Bank, Benny Higgins said majority of customers will not have to pay the 5 charge to maintain the account. Tesco\''s current account will pay 3% interest on credit balances. The monthly fee will be waived for customers who transact at least 750 each month through the account.

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