4:00 PM Frankfurt – European Market indexes generally closed lower after China reported May exports declined 4%. Boohoo.Com revenues surged 42% and active customers soared 30%. CMC Markets profit surged 22% on 20% increase in revenues. Sainsbury sales rose. Workspace net jumped 8%.
European market indexes edged higher in volatile trading after China released exports data and banks struggled in trading in Italy and Austria.
Exports from China in May month declined 4.1% in dollar terms and were ahead of expectations several economists, but traders used the decline as a reason to be cautious.
In London trading, FTSE 100 index edged up 13.21 or 0.2% to 6,297.63 and in Frankfurt the DAX index decreased 85.23 or 0.8% to 10,202.53.
In Paris, CAC 40 index slumped 32.27 or 0.7% to 4,443.59.
Banks in the euro zone declined led by the drop in Erste Bank and UniCredit SpA.
in Vienna trading declined after the insurance company Uniqa announced the sale of 17.4 million shares.
UniCredit in Milan trading also fell more than 4.5% after the bank is struggling to appoint new chief executive and the bank may have to raise capital sooner than expected.
jumped 2.6% to 58.25 pence after the U.K.-based online fashion retailer said total revenues in the three-months ending in May surged 42% from a year ago to £58.22 million.
The online retailer said retail gross margin in the period decreased to 57.6%, a decline of 3 percentage points from the same period a year ago but active customers soared 30% to 4.2 million.
The retailer reported £61 million cash on balance sheet.
CMC Markets Plc
fell 0.2% to 275.50 pence after the U.K.-based online financial trading services provider said revenues in the year ending in March jumped 19.7% from a year ago to £186.40 million.
Net income in the year surged 22% from a year ago to £42.5 million compared to £34.7 million and diluted earnings per share advanced to15 pence from 12.4 pence.
J Sainsbury plc
gained 1.2% to 249.60 pence after the U.K.-based supermarkets and convenience stores operator reported excluding fuel, total retail sales in the first-quarter ending on June 4 increased 0.3% but fell by 0.1% including fuel.
The retailer said comparable sales in the quarter dropped 0.8% excluding fuel while declined 1% including fuel.
Apparel sales increased nearly 5% and general merchandise sales jumped more than 5%. Convenience retailing business achieved growth of over 6% and groceries online sales increased 8% and nearly a 13% increase in orders.
During the quarter, Sainsbury’s Bank delivered better than expected performance and Travel Insurance increased 10%.
Chief executive Mike Coupe said: ""We have made a solid start to the year with like-for-like transaction growth across all our channels and total volume growth.”
Workspace Group Plc
, the U.K.-based privately held property investment company stated revenues in the year ending in March soared 21% from a year ago to £101.2 million.
Net income in the year jumped 8.1% from a year ago to £388.9 million compared to £359.9 million and diluted earnings per share increased to 237.3 pence from 227.4 pence.