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Market Update

Europe Earnings: Ocado, Pandora, SThree, UBS, Vodafone

Author: Nigel Thomas
Last Update: 11:22 AM ET March 14 2014

4:00 PM Frankfurt Ocado reported sales increase of 23% to 227.5 million. Pandora received notice from its major shareholders to sell stake worth 4.51 billion kroner. SThree profit surged 9% to 48 million. UBS net swung to a profit 3.2 billion francs.

In London trading, FTSE 100 index fell 0.4% or 23.66 to 6,530.12 and in Frankfurt the DAX index rose 0.07% or 6.63 to 9,024.42.

In Paris, CAC 40 index slid 0.1% or 42 to 4,208.51.

Ocado Group Plc plunged 5.2% to 476.20 pence after the U.K.-based said gross sales group for the period ending on February 23 surged 22.6% to 227.5 million from 185.5 million and gross sales in retail climbed 18% to 218.8 million compared to 185.5 million.

Average order size for the period slid 0.4% to 117.53 million from 117.99 million a year ago period.

Pandora A/S dropped 3.1% to 348.10 kronor after the Denmark-based jewelry products maker received notice from its major shareholders Pewic Holding ApS and Christian Algot Enevoldsen to sell 13 million existing shares, a stake worth 4.51 billion kroner.

SThree Plc gained 1.2% to 410 pence after the U.K.-based recruitment company stated group sales in the first-quarter as of March 2 climbed 18%, UK total headcount jumped 15% and continental Europe sales headcount soared 14%.

Gross profit surged 9% to 47.8 million compared to 44.3 million a year ago period.

UBS AG slipped 1.9% to 18.03 francs after the Switzerland-based banking services provider reported interest income in the year ending in December declined 17.7% to 13.14 billion francs from 15.97 billion francs a year ago.

Net in the year swung to a profit 3.17 billion francs compared to a loss of 2.48 billion francs and diluted earnings per share swung to 0.83 francs from a loss of 0.66 francs a year earlier.

Vodafone Group Plc fell 1.1% to 222.10 pence after the media reports in Spain reported Vodafone agreed for 6 billion deal to buy Ono.

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