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Market Update

Europe Movers: Anheuser InBev, BNP, Bankia, Britvic, KBC, Renault


Author: Barry Randall
ticker.com
Last Update: 11:12 AM ET February 14 2013

ABB increased 4% to Sfr20.45 after it reported higher than expected earnings.

The Switzerland based power and automation group reported revenues in the fourth quarter ending in December increased 4% to $11.02 billion from $10.57 billion in the same period of last year. Net income in the quarter declined 27% to $604 million or 26 cents a diluted share compared to $830 million or 36 cents a share a year ago.

The company said the order backlog at the quarter end reached to $29 billion. Total revenues increased in the quarter, contribution of nearly $600 million from Thomas & Betts

Anheuser Busch InBev NV soared 6% to 68.55 euros after the largest brewer agreed to sell its Corona distribution network in the U.S. to Constellation Brands Inc for $2.9 billion to save its bid to purchase Mexico based Grupo Modelo.

BNP Paribas increased 3% to 47.20 euros after the French bank plans to increase its dividend to 1.50 euros from 1.20 euros a year ago and lower its cost base by 2 billion euros by 2015.

BNP Paribas SA, the France based bank reported full year revenue declined 6% to €39.7 billion compared to €42.38 billion in the same period of last year. Net income surged 27% to €6.55 billion from €5.15 billion and diluted earnings per share climbed 9% to €5.15 compared to €4.81 from a year ago.

For the fourth quarter, group revenue slipped 3% to €9.39 billion compared to €9.69 billion in the same period of last year. Net income plunged 33% to €514 million from €765 million from a year ago.

Bankia SA plunged 11% to 41.50 euros after the troubled bank plans to convert the bond to stock at 1 euro cent a share as a part of its financial reorganization. The news was reported by Madrid based Expansion.

Separately, the fund set up to rescue banks, FROB said its investment in the bank will lead to losses to current shareholders as it will seek drastic reduction in the nominal value of the share capital.

Britvic Plc plunged 7.5% to 387 pence after the Office of Fair Trading, a UK regulator, transferred the deal with the company to Competition Commission.

A.G. Barr Plc dropped the deal to acquire the company after the regulatory hurdle.

Electricite de France SA increased 5% to 14.90 euros after the largest power generator reported plans to lower costs and increase its dividend.

KBC Groep NV, the Belgium’s largest bank and insurance group soared 9% to 30.82 euros after it reported underlying income of 309 million euros and increased its dividend to one euro.

The Belgium based banking and insurance company reported full year revenue dropped 8% to €7.55 billion compared to €8.18 billion in the same period of last year. Net income soared 40% to €1.54 billion from €1.10 billion and diluted earnings per share jumped 25% to €1.57 compared to €1.26 from a year ago.

For the fourth quarter, group revenue slumped 10% to €1.87 billion compared to €2.07 billion in the same period of last year. Net income climbed 92% to €309 million from €161 million from a year ago and diluted earnings per share climbed more than three-fold to €0.84 compared to €0.19 from a year ago.

Nestle SA declined 2% after the branded packaged food seller reported organic sales in constant currency increased 5.9% in 2012, lower than 6% estimated by several analysts.

Renault SA soared 8% to 46.55 euros, after the second largest French automaker reported operating earnings before one-time items were 729 million euros.

Renault SA, the France based automobile company reported full year revenue fell 3% to €41.27 billion compared to €42.63 billion in the same period of last year. Net income dropped 15% to €1.77 billion from €2.09 billion.

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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