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Market Update

Europe Movers: Deutsche Post, Glencore, Serco, Xstrata


Author: Nigel Thomas
ticker.com
Last Update: 9:10 AM ET March 05 2013

2:00 PM Frankfurt Deutsche Post fiscal net surged 43% to 1.66 billion. Glencore profit for the year plunged 75% and extended the merger date with Xstrata. Serco Group fiscal profit surged 40% to 245.9 million. Xstrata profit for the year tumbled 77% to $1.37 billion.

In London trading, FTSE 100 index rose 0.9% or 56.9 to 6,403 and in Frankfurt, the DAX index climbed 1.8% or 135.5 to 7,827. In Paris, CAC 40 index jumped 1.5% or 53.9 to 3,764.

Deutsche Post AG soared 5.4% to 17.92 after the Germany based logistics services provider reported group revenue for the year ending December grew 5.1% to 55.5 billion from 52.83 billion a year ago. Net profit for the year surged 42.7% to 1.66 billion compared to 1.16 billion from a year ago. Diluted earnings per share jumped 37.5% 1.32 from 0.96 a year earlier.

For the fourth quarter, the company said group revenue rose 3.2% to 14.58 billion from 14.13 billion a year ago. Net profit for the year climbed nearly three-fold to 542 million compared to 175 million from a year ago. Diluted earnings per share jumped to 0.40 from 0.14 a year earlier.

The company expects for fiscal 2013, EBIT to increase in the range of 2.7 billion to 2.95 billion and mail division to contribute between 1.1 billion and 1.2 billion. DHL generated operating earnings in the range of 2 billion to 2.15 billion.

Glencore International plc jumped 3.5% to 382.80 pence after the Switzerland based metals and mining company said revenue for the fiscal year ending in December climbed 15% to $214.4 billion compared to $186.1 billion in the same period of last year.

Profit for the year plunged 75% to $1 billion compared to $4.05 billion from a year ago and diluted earnings per share dropped 80% to 14 cents compared to 69 cents from a year ago.

The company added Kazzinc gold production jumped 22% and Mutanda copper production climbed 37% and South African coal production advanced 104%.

The board of directors said merger date with Xstrata was extended to April 16.

Serco Group plc surged 7.3% to 621.15 after the UK based holding company reported revenue for the fiscal year ending in December jumped 5.7% to 4.91 billion compared to 4.65 billion in the same period of last year.

Profit for the year surged 40.4% to 245.9 million compared to 175.2 million from a year ago and diluted earnings per share climbed 40% to 49.94 pence compared to 35.70 pence from a year ago.

The defense company said operating profit for the year jumped 8% to 287.6 million and order book increased to 19.1 billion compared to 17.9 billion from a year ago.

The company proposed 20% increase in total dividend for the year 2012.

Xstrata plc climbed 4.4% to 1,148 pence after the Switzerland based diversified mining company said revenue for the fiscal year ending in December dropped 7% to $31.62 billion compared to $33.88 billion in the same period of last year.

Profit for the year tumbled 77% to $1.37 billion compared to $5.93 billion from a year ago and diluted earnings per share declined 79% to 40 cents compared to $1.93 from a year ago.

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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