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Market Update

Europe Movers: IG Group, Sainsbury, Just Eat, OneSavings, Orange

Author: Nigel Thomas
Last Update: 9:40 AM ET March 17 2015

4:00 PM Frankfurt IG Group third-quarter revenues declined 5% to 92 million. Sainsbury sales dropped and the retailer invested 150 million to reduce the prices on more than 1,100 items. Just Eat revenues and pre-tax profit surged. OneSavings Bank pre-tax profit doubled to 64 million.]

In London trading, FTSE 100 index rose 0.1% or 12.59 to 6,816.67 and in Frankfurt the DAX index declined 1.8% or 219.62 to 11,948.10.

In Paris, CAC 40 index dropped 0.9% or 47.21 to 5,013.95.

IG Group Holdings Plc slipped 0.8% to 735 pence after the U.K.-based trading company stated revenues in the third-quarter ending in February declined 5.1% to 91.8 million from 96.7 million a year ago period.

The company added that the sharp swing in Swiss franc in the early part of the quarter resulted in client debts of 18.4 million.

J Sainsbury Plc fell 0.4% to 267.63 pence after the U.K.-based supermarket and convenience stores operator said total retail sales in the fourth-quarter declined 0.3% and comparable store sales in the quarter dropped 1.9%.

The company reported higher than expected quarterly earnings despite 150 million investment to reduce prices on more than 1,100 items since November.

The retailer said convenience store sales increased 14% and opened 23 new convenience stores and number of orders rose 14% in online grocery business.

Just Eat Plc climbed 2.4% to 372.10 pence after the U.K.-based online food services provider reported revenues in the year ending in December soared 62% to 157 million from 96.8 million a year ago period.

Pre-tax profit in the year surged 465.7% from a year ago to 57.7 million compared to 10.2 million.

The company said revenues increased mainly due to 37% surge in active users to 8.1 million.

The online takeaway delivery service provider forecasted revenue for the fiscal 2015 of more than 200 million.

OneSavings Bank Plc surged 13.5% to 240 pence after the U.K.-based financial service provider said pre-tax profit in the year ending in December more than double to 63.7 million and outstanding loans climbed 29% to 3.9 billion.

Bank said it will pay a maiden annual dividend of 3.9 pence per share.

Orange SA declined 3.2% to 14.88 after the France-based mobile and internet operator restated fiscal 2015 operating earnings in the range between 11.9 billion and 12.1 billion.

Orange said estimated revenues in 2018 will be higher than the fiscal 2014 and plans to invest more than 15 billion in networks between 2015 and 2018.

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