3:20 PM Frankfurt – Ferrexpo profit plunged 14% and ING Groep net dropped 13%. Old Mutual profit for the first-half declined 49%. Natixis net surged 13% to €604 million. Ray Investment sold 10% stake in Rexel. Swisscom net declined 10%. TUI profit rose 3%.
In London trading, FTSE 100 index slipped 0.8% or 54.27 to 6,550 and in Frankfurt the DAX index fell 0.4% or 33.93 to 8,266.
In Paris, CAC 40 index rose 0.2% or 8.97 to 4,042.
surged 8.7% to 177.60 pence after the UK based iron ore pellets maker said revenue in the first-half jumped 6% to $775 million from $731 million. Profit for the period plunged 14.4% to $126 million compared to $147.2 million and diluted earnings per share dropped 14.2% to 21.43 cents from 24.97 cents a year ago.
Total revenue increased by 5.9% mainly due to strong sales growth of 18.7% to 5.3 million tons but profit-before-tax for the period declined 12% to $150 million.
ING Groep NV
soared 5.2% to €8.27 after the Netherlands based financial service provider reported gross premium income in the second quarter ending in June slid 3% to €4.48 billion from €4.81 billion. Net income for the quarter dropped 13% to €788 million compared to €1.29 billion.
The bank said group underlying net profit for the quarter dropped to €942 million from €1,109 million.
Insurance EurAsia operating income climbed 26.1% to €256 million.
Old Mutual Plc
jumped 3.8% to 199.80 pence after the investment manager reported total revenue in the first-half climbed to £9.64 billion from £8.53 billion. Profit for the first-half declined 49.4% to £547 million compared to £1,082 million and diluted earnings per share dropped 8.3 pence from 17.7 pence a year earlier.
The investment company said funds under management for the period jumped 9% to £289.3 billion and pre-tax-profit increased 10.5% £805 million.
Old Mutual signed the agreement for International Financial Data Services to increase the services provided by Skandia to financial advisers and customers in the U.K.
slipped 2.3% to €3.85 after the France based financial and investment service provider said net revenue in the first-half rose 3% to €3.62 billion from €3.52 billion. Net income for the period surged 13% to €604 million compared to €535 million.
The company added pre-tax profit in the second quarter was stabled to €435 million from a year earlier.
declined 4.8% to €18.05 after the France based electrical parts distributor said Ray Investment SARL, owned by France based Eurazeo SA sold its 10% stake or 28.8 million shares for €18.20 per share and for a total of €525 million.
climbed 3.5% to 427.40 francs after the Switzerland based communication service provider reported net revenue in the first-half slid 0.4% to 5.60 billion francs from 5.62 billion francs. Net income for the period declined 9.7% to 819 million francs compared to 907 million francs and diluted earnings per share slipped 15.73 francs from 17.37 francs a year earlier.
Revenue from bundled contracts climbed 38.1% to 725 million francs and broadband lines Fastweb jumped 12.8% to 1.89 billion francs.
The company reaffirms EBITDA for the year of at much as 4.25 billion francs and revenue will be above 11.4 billion francs from earlier guidance of 11.3 billion francs.
TUI Travel Plc
declined 5% to 381.30 after the UK based leisure and traveler said revenue in the third quarter ending in June jumped 5% to £3.86 billion from £3.69 billion. Operating profit for the quarter rose 3% to £76 million compared to £74 million a year earlier.
TUI added holiday bookings for UK, Nordics and Germany climbed 14%, 11% and 9% respectively and direct distribution sales for UK and Nordics for summer 2013 rose to 91% and 88% respectively from a year ago.