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Market Update

Europe Movers: Danone Sales Rise 5.6%, LVMH Sales Jump 6%

Author: Nigel Thomas
Last Update: 10:27 AM ET April 16 2013

3:00 PM Frankfurt – Danone first quarter group sales jumped 5.6% to €5.33 billion. Glencore wins regulatory approval in China for Xstrata merger. Michael Page gross profit for the first quarter dropped 7% to £127 million. LVMH reported first quarter revenue climbed 6% to €6.95 billion.

In London trading, FTSE 100 index fell 0.2% or 11 to 6,333 and in Frankfurt the DAX index rose 0.2% to 14.6 to 7,727.

In Paris, CAC 40 index edged up 0.1% or 5.4 to 3,716.

Danone SA jumped 3.6% to €56.47 after the France based food company said total group sales for the first quarter jumped 5.6% to €5.33 billion. Fresh dairy products division sales for the quarter rose 0.7% and waters division sales climbed 8.6%. The baby nutrition division sales for like-for-like surged 17.1% and medical nutrition division sales jumped 6.3%.

Glencore International Plc climbed 3.4% to 332 pence after the Switzerland based metals and mining company said Ministry of Commerce of the China cleared the merger with Xstrata under the Chinese Anti-Monopoly Law. The company cleared the final hurdle in its $30 billion acquisition of Xstrata Plc.

As per the ministry’s website, on the takeover condition, Glencore shall sell all of its post-merger ownership interest in Peru based Las Bambas copper project developed by the company but not less than the pre-determined price.

Michael Page International Plc declined 5.3% to 376.10 pence after the UK based recruitment company reported gross profit for the first quarter dropped 7% to £127 million.

LVMH Moet Hennessy Louis Vuitton SA slipped 2.4% to €128.10 after the France based luxury goods retailer reported first quarter revenue climbed 6% to €6.95 billion.

The company added revenue from the fashion & leather goods business group recorded growth of 0.4% to €2.38 billion and perfumes and cosmetics reported revenue jumped 4% to €932 million. Revenue from watches and jewelry business fell 1% to €624 million and revenue from selective retailing business soared 16% to €2.12 billion.

Lonmin Plc surged 11.4% to 285.95 pence after the price of the platinum rebounded.

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