S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Europe Earnings: HSBC Net Jumps, Ryanair Cuts Outlook


Author: Nigel Thomas
ticker.com
Last Update: 9:38 AM ET November 04 2013

4:25 PM Frankfurt Alcatel Lucent net loss narrowed as sales rose. AMEC agreed to acquire US-based Automated Engineering for $28 million. Ryanair profit rose 1% to 602 million and lowered full-year outlook. HSBC profit jumped 28%. Ryanair and Weir lowered fiscal year outlook.

In London trading, FTSE 100 index jumped 0.6% or 42.39 to 6,777 and in Frankfurt the DAX index gained 0.4% or 40.76 to 9,049.

In Paris, CAC 40 index increased 0.5% or 22.64 to 4,296.

Alcatel Lucent SA dropped 2.7% to 2.89 after the France-based networking equipment maker said revenue in the third-quarter ending in September rose 2% to 3.67 billion from 3.60 billion a year earlier.

Net loss in the quarter narrowed to 200 million compared to 316 million and diluted loss per share dropped to 0.09 from 0.14 a year ago period.

AMEC Plc rose 0.4% to 1,178 pence after the U.K.-based engineering consultant agreed to acquire US-based Automated Engineering Services for $28 million.

HSBC Holdings Plc jumped 2.8% to 706.70 pence after the U.K.-based financial service provider reported revenue in the third-quarter ending in September rose 3.5% to $15.08 billion from $14.57 billion a year ago.

Net profit for the quarter jumped 28% to $3.20 billion compared to $2.50 billion and diluted earnings per share climbed to 16 cents from 13 cents a year earlier.

HSBC added underlying revenue for the quarter nearly flat at $15.6 billion from the same quarter a year earlier.

Ryanair Holdings Plc plunged 12.1% to 5.36 after the Ireland -based low-cost airline company said revenue in the third-quarter ending in September jumped 5% to 3.26 billion from 3.11 billion a year ago period.

Net profit in the quarter rose 1% to 602 million compared to 596 million and diluted earnings per share grew to 41.85 cents from 41.20 cents a year ago period.

The Weir Group Plc declined 5.3% to 2,138 pence after the U.K.-based industrial pump maker said profit before tax in the third-quarter may drop as much as 413 million and expected profit for the year to be in the range of 425 million to 435 million.

The company added orders in the oil and gas division during the third quarter climbed 33% compared to last year.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc