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Market Update

Europe Earnings: Heineken, ING, Reckitt Benckiser, Societe Generale


Author: Nigel Thomas
ticker.com
Last Update: 9:40 AM ET February 12 2014

3:40 PM Frankfurt Heineken net plunged 53% to 1.4 billion. ING Groep profit tumbled 64% to 539 million. Reckitt Benckiser net dropped 4% to 1.7 billion. Societe Generale net swung to a profit 322 million and revenue surged 13%. TeleCity sales and profit climbed.

In London trading, FTSE 100 index rose 0.1% or 9.98 to 6,682.64 and in Frankfurt the DAX index increased 0.7% or 68.89 to 9,547.66.

In Paris, CAC 40 index gained 0.5% or 22.58 to 4,305.90.

Heineken N.V gained 1.2% to 47.65 after the Netherlands-based beer maker said group revenue in the year ending in December rose 1.3% to 21.3 billion from 21 billion a year ago.

Net profit in the year plunged 53% to 1.36 billion compared to 2.91 billion and diluted earnings per share slipped 4.8% to 2.75 from 2.89 a year earlier.

ING Groep N.V climbed 4.7% to 10.65 after the Netherlands-based bank and insurance company reported total revenue in the fourth-quarter ending in December soared 20.2% to 6.24 billion from 5.19 billion a year earlier.

Net profit in the quarter tumbled 63.6% to 539 million compared to 1.48 billion a year ago period.

Reckitt Benckiser Group Plc rose 1% to 4,878 pence after the U.K.-based consumer products maker stated net revenue in the year jumped 7% to 10.04 billion from 9.57 billion a year ago period.

Net profit in the year dropped 4.4% to 1.74 billion compared to 1.82 billion and earnings per share fell to 238.5 pence from 248.4 pence a year ago.

Societe Generale SA soared 5.4% to 46.67 after the France-based financial services provider reported group revenue in the fourth-quarter ending in December surged 12.7% to 5.78 billion from 5.13 billion a year ago period.

Group net in the quarter swung to profit 322 million compared to a net loss of 471 million a year earlier.

The lender said group revenue in the year jumped 4.3% to 22.8 billion from 23.1 billion and group profit for the year surged 2.17 billion compared to 790 million a year ago.

TeleCity Group Plc plunged 8.1% to 671 pence after the U.K.-based data center services provider said revenue in the year ending in December climbed 15.1% to 325.6 million from 282.9 million a year ago.

Profit in the year jumped 12.2% to 65.2 million compared to 58.1 million and diluted earnings per share increased to 32.1 pence from 28.5 pence a year earlier.

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