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Market Update

Europe Movers: BMW, Thorntons, SSE, Telecom Italia, Vodafone


Author: Nigel Thomas
ticker.com
Last Update: 10:31 AM ET April 03 2013

3:00 PM Frankfurt – BMW said quarterly sales in U.S. climbed 5.3% to 64,902 units. Chocolate maker Thorntons lifted profit outlook for fiscal 2013. SSE confirmed the penalty of £10.5 million. Verizon Communications said it has no intention to buy Vodafone.

In London trading, FTSE 100 index slid 0.4% or 26.2 to 6,464 and in Frankfurt the DAX index edged lowered 0.1% to 5.2 to 7,939.

In Paris, CAC 40 index fell 0.3% or 10.6 to 3,795.

Andor Technology Plc declined 6.9% to 350.75 pence after the UK based digital camera maker estimated revenue for the first six months to March slightly lower than a six-month period a year ago.

Bayerische Motoren Werke AG gained 0.4% to €68.60 after the Germany based auto maker said quarterly sales in U.S. climbed 5.3% to 64,902 units.

Thorntons Plc climbed 6.4% to 73.39 pence after the UK based chocolate maker anticipated that the profit before tax for the fiscal 2013 will be ahead of the current market expectation.

In February, the company reported 70% growth in first-half profit to £5.3 million.

SSE Plc rose 0.5% to 1,514.36 pence after the UK based electric utility provider confirmed the penalty of £10.5 million fined by Ofgem for the breach of two license conditions for domestic energy sales in the UK between October 2009 and July 2011.

Telecom Italia SpA declined 4.5% to €0.541 after the Italy based phone company reported revenue in the year ending December fell 1.5% to €29.5 billion and domestic revenues fell 5.8% to €17.88 billion.

Vodafone Group Plc dropped 2.1% to 187.89 pence after the US based telecom group Verizon Communications said it has no intention to buy Vodafone.

“Verizon said many times, it would be a willing to purchaser of 45% stake that Vodafone holds in Verizon Wireless. It does not, however, currently have any intention to merge with or make an offer for Vodafone, whether alone or in conjunction with others,"""" according to a company statement.

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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