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Market Update

Europe Movers: Banca Monte, FirstGroup, ICAP


Author: Nigel Thomas
ticker.com
Last Update: 10:16 AM ET April 02 2013

3:00 PM Frankfurt – Banca Monte said loss for the year narrowed to €3.17 billion. FirstGroup stock jumped after the contracts extension. ICAP said pre-tax profits for the year expected to fall to £280 million.

In London trading, FTSE 100 index climbed 1.1% or 72 to 6,484 and in Frankfurt the DAX index jumped 1.1% to 84.9 to 7,880.

In Paris, CAC 40 index advanced 1% or 38.3 to 3,770.

Banca Monte dei Paschi di Siena SpA declined 6.2% to €0.174 after the Italy based bank reported net interest income for the year ending in December declined 18.1% to €2.83 billion. Net loss for the year narrowed to €3.17 billion and compared to €4.69 billion.

The bank said fourth quarter net interest income tumbled 52.7% to €434.5 million. Net loss for the year narrowed to €1.59 billion and compared to €4.94 billion.

The bank added net total impairment losses surged 99.5% to €2.89 billion and impairment of goodwill intangibles and write-down on investment in AM Holding, posts a loss of €1,465.7 million compared to loss of €337.8 million a year ago.

FirstGroup Plc soared 6.8% to 214.70 pence after the UK based transportation service provider’s stock jumped after the contracts extension.

ICAP Plc climbed 5.6% to 306.70 pence after the UK based brokerage company said group revenue for the year ending in March is expected to be 13% below compared to previous year and pre-tax profits to be fall nearly £280 million.

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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