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Market Update

Europe Movers: AstraZeneca, Deutsche Bank, Infineon, Lonmin, Shell, Santander

Author: Barry Randall
Last Update: 12:59 PM ET January 31 2013

AstraZeneca declined 3.4% to 3,045 pence after the company said profit declined in the fourth quarter. The drug maker cited competition from generic makers and said sales are likely to decline in “mid-to high-single digit” percentage.

Banco Santander declined 2.6% to 6.24 euro after the Spain’s largest bank reported fourth quarter profit declined to 401 million euro and set aside higher amount to cover loan losses in domestic market.

Deutsche Bank increased 2.8% core Tier 1 capital ratio increased to 8% in the quarter ending in December. The company estimated a loss of 2.17 billion euro and set aside 1 billion euro for legal costs.

Non-interest expenses increased to 10 billion euro from 6.7 billion euro in the quarter a year ago and took 1.9 billion euro impairment in goodwill.

Ericsson AB soared 8% to SK74.61 after the wireless telecom network operator reported a 5% increase in revenues in the December quarter to SK66.9 billion and reported a net loss of SK6.46 billion.

STMicroelectronics increased 5% to 6.44 euros after the company and Ericsson finalized the plans to dissolve the joint venture and Ericsson has said earlier that it may close the operations of the joint venture.

STMicroelectronics also estimated semiconductor industry to grow 9% in 2013.

Infineon Technologies AG rose 4.5% to 6.7 euros after the second largest chipmaker in Europe estimated higher operating earnings and sales in the current quarter.

Fiscal first quarter profit plunged 69% to 44 million euros excluding special items.

Infineon estimated revenues in the fiscal second quarter ending in March to increase 5% to 894 million euros. The company is also embarking on 100 million euros of cost cutting. Infineon estimated full year 2013 revenues to drop between 5% and 9% and core operating margin to fall between 5% and 9% from 13.5% in for the year ending in September 2012.

Lonmin Plc soared 15% after the mining company said it has restarted production and platinum sales in the first quarter jumped 17%.

Shell fell 2.5% to 2,248 pence after oil explorer reported fourth quarter earnings excluding certain items of $5.6 billion.

TeliaSonera AB fell 1.8% to SK45.85 after the largest Swedish telecom company said fourth quarter operating earnings decreased 3.2% to SK8.97 billion.

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