3:00 PM Frankfurt adidas first quarter net climbed 7% to 308 million and BNP Paribas first quarter net plunged 45% to 1.58 billion. Vallourec quarterly climbed 21%. Royal Bank of Scotland first quarter net swung to £393 million profit.
In London trading, FTSE 100 index jumped 1.2% or 77.4 to 6,538 and in Frankfurt the DAX index climbed 2% or 26 to 8,119.
In Paris, CAC 40 index advanced 1.4% or 53.4 to 3,912.
soared 6.9% to 84.98 after the Germany based sports goods maker said group revenues in the first-quarter ending in March fell 2% to 3.75 billion from 3.82 billion. Net income for the quarter climbed 6.6% to 308 million compared to 289 million. Diluted earnings per share increased 6% to 1.47 from 1.38.
Wholesale revenues in the quarter dropped 5% to 2.48 billion and retail sales grew 4% to 722 million. Sales in other businesses climbed 6% to 548 million.
Herbert Hainer chief executive officer said, The strong first quarter results confirm our expectations to deliver another year of double-digit earnings growth.
For the year, adidas expects sales to increase at a mid-single-digit and gross margin to increase between 48% and 48.5%.
BNP Paribas SA
gained 1.7% to 43.56 after the largest French bank reported revenues in the first-quarter ending in March jumped 1.7% to 10.06 billion. Net income for the quarter plunged 44.8% to 1.58 billion compared to 2.87 billion.
Pre-tax income for the group declined 33.6% to 2.62 billion
The bank said operating division revenues in the quarter dropped 6% and retail banking rose 0.2% and investment solutions revenue grew 3.4%.
The group''s solvency as measured by the standard set by Basel 2.5 common equity Tier 1 ratio at 11.7% and a fully loaded Basel 3 common equity Tier 1 ratio at 10%.
Personal finances outstanding loans dropped 2.4% to 87.5 billion from a year ago and consumer loan outstanding slid by 0.1%. Mortgage loan outstanding declined by 5.3%.
surged 12.5% to 40.49 after the France based steel pipe maker said sales in the first-quarter ending in March rose 1% to 1.21 billion. Net income for the quarter climbed 20.7% to 35 million compared to 29 million. Earnings per share rose to 0.28 compared to 0.24 a year earlier.
Operating income climbed 13% to 90 million.
Vallourec added sales in the power generation for the quarter fell 1% to 136 million and petrochemicals sales declined 11% to 76 million. Non-Energy sales plunged 16% to 233 million.
The Royal Bank of Scotland Group plc
declined 5.1% to 291.75 pence after the UK based financial service provider stated net interest income in the first quarter ending March declined 8.6% to £2.67 billion. In the quarter net swung to £393 million profit compared to loss of £1.55 billion. Diluted earnings for the quarter swung to 3.5 pence from loss of 14.2 pence.
Group operating profit jumped £829 million from £553 million in last quarter and pre-tax profit was £826 million.
Core Tier 1 ratio increases 50 basis points to 10.8%, or 8.2% on a fully loaded Basel III basis.