3:00 PM Frankfurt – ASML first quarter net income tumbled 66% to €96.2 million. Burberry second half revenue jumped 9% to £1.12 billion. Tesco profit for the year plunged 95.7% to £120 million.
In London trading, FTSE 100 index slipped 0.6% or 35.9 to 6,269 and in Frankfurt the DAX index dropped 1.8% to 136.3 to 7,546.
In Paris, CAC 40 index declined 1.5% or 56.1 to 3,630.
ASML Holding N.V.
soared 5.2% to €53.97 after the Netherlands based chip making equipment maker reported total net sales in the first quarter dropped 28.8% to €892.1 million and net income tumbled 66% to €96.2 million compared to €282 million. Diluted earnings per share declined 66.1% to €0.23 from €0.68.
For the second quarter, ASML expects net sales of about €1.1 billion and gross margin to increase between 41% and 42%.
ASML continue to expect the previously announced acquisition of Cymer to close in the first half following the recent clearance by the antitrust regulator in the United States
Burberry Group Plc
climbed 3.9% to 1,315 pence after the UK based luxury accessory retailer reported total revenue in the second half jumped 9% to £1.12 billion and retailer revenue soared 13% to £840 million. Comparable store sales in the six months increased 7% led by Asia Pacific and China with a growth of 15% to £447 million.
Wholesale revenue slipped 3% to £220 million and licensing revenue grew 3% to £56 million.
slid 0.3% to 2,185 after the UK based investment company replaced Richard Buxton and appointed Philip Matthews and Alex Breese to its UK equity team. Philip will manage the Schroder UK Alpha Plus Fund.
dropped 2.6% to 374.80 pence after the UK based retailer reported full year revenue rose 1.4 to £64.83 billion and gross profit declined 24.2% to £4.09 billion. The company added profit before tax for the year tumbled 51.5% to £1.96 billion.
Profit for the year plunged 95.7% to £120 million compared to £2.81 billion and diluted earnings per share declined 95.6% to 1.54 pence from 34.88 pence.
The retailer added group trading profit from UK slumped 8.3% to £2.27 billion and from Asia dropped 10.3% to £661 million. Europe group trading profit plunged 37.8% to £329 million.
Tesco said online business in the year jumped 13% £3 billion.