4:00 PM Frankfurt – Commerzbank net swung to a profit €200 million but revenue declined 8%. Experian profit surged 88% to $754 million. HSBC profit declined 18% to $5.2 billion. Societe Generale net plunged 13% to €315 million but revenue jumped 14%. Siemens net soared 12% to €1.2 billion.
In London trading, FTSE 100 index slid 0.3% or 21.48 to 6,777.08 and in Frankfurt the DAX index rose 0.2% or 22.66 to 9,490.19.
In Paris, CAC 40 index edged up 0.07% or 3.11 to 4,431.18.
dropped 2.3% to €12.28 after Germany-based bank reported revenue in the first-quarter ending in March plunged 8.1% to €2.26 billion from €2.46 billion a year ago period.
Net in the quarter swung to a profit €200 million compared to a loss of €98 million a year ago period.
Net interest income plunged 17% to €1.13 billion from €1.36 billion and provisions for loan losses dropped to €238 million compared to €267 million in the last year.
The bank said operating profit in the quarter declined to €324 million from €464 million a year earlier.
declined 6.3% to 1,062 pence after the U.K.-based global information service provider said group revenue in the year ending in March increased 2.3% to $4.84 billion from $4.73 billion a year ago.
Profit in the year surged 88% to $754 million compared to $401 million and diluted earnings per share jumped to 75.8 cents from 35.9 cents a year earlier.
HSBC Holdings plc
dropped 1% to 597.78 pence after the U.K.-based financial service provider said net interest income in the first-quarter ending in March fell 2.8% to $8.72 billion from $8.97 billion from a year ago period.
Profit in the quarter declined 17.9% to $5.21 billion compared to $6.35 billion and diluted earnings per share dropped to 27 cents from 33 cents a year earlier.
Societe Generale SA
slipped 1.5% to €43.21 after the France-based financial services provider reported group revenue in the first-quarter jumped 14% to €5.68 billion from €4.98 billion a year ago.
Net income in the quarter plunged 13.3% to €315 million compared to €364 million and earnings per share increased to €2.22 from €1.99 a year earlier.
The lender said €525 million write-down on its Russian business and net in its international banking and financial-services unit swung to a loss €284 million from a profit of €256 million a year ago.
The bank has acquired stake of 20% in local lender Rosbank for $634 million in 2006 amid to gain and to a promising new market.
jumped 2.1% to €95.83 after the Germany-based technology company reported revenue in the second-quarter fell 1% to €17.45 billion from €17.78 billion a year ago.
Net income in the quarter soared 11.6% to €1.15 billion compared to €1.03 billion and diluted earnings per share increased to €1.32 from €1.18 a year earlier.
Siemens added orders in the quarter declined 10% to €18.43 billion from €21.23 billion a year ago period.