4:00 PM Frankfurt European markets surged after a private survey showed German factory activities expanded but at a slower pace in April. Audi profit climbed 7% to 1.1 billion on 13% increase in revenues. BASF net profit tumbled 20% but revenues jumped 3% to 20.1 billion. Technip offered an option for dividend for the second offering.
European markets advanced amid corporate earnings and vehicles sales in the euro zone and German factory activities expanded for the fifth month in a row.
Purchasing managers index edged lower to 52.1 in April from 52.8 in March, an 11-month high, according to the data released by Markit.
New orders growth slowed in the month and output growth but manufacturing companies increased hiring activities, according to the survey.
In Frankfurt the DAX index jumped 1.5% or 174.14 to 11,628.52 and in Paris, CAC 40 index gained 0.9% or 45.90 to 5,092.39.
climbed 2.4% to 75.20 ahead of annual shareholder''s meeting next week and chief executive Herbert Hainer defended the decision to spinoff Reebok.
gained 0.7% to 749.95 after the Germany-based automaker reported revenues in the first-quarter ending in March surged 13.1% to 14.65 billion form 12.95 billion in a year ago period.
Profit in the quarter climbed 6.8% from a year ago to 1.10 billion compared to 1.03 billion.
Audi said operating profit in the passenger car segment climbed 8.5% to 1.41 billion compared to 1.30 billion but operating profit in the motorcycles business declined 14.3% to 12 million compared to 14 million in the same period a year ago
Revenues in the passenger car segment soared 13.2% to 14.49 billion from 12.80 billion and revenues in motorcycles segment jumped 5.8% to 164 million compared to 155 million in the same period a year ago.
Vehicle production in the first-quarter increased to 500,643 vehicles from 447,414 vehicles in a year ago period
rose 0.1% to 89.57 after the Germany-based chemical producer said revenues in the first-quarter ending in March jumped 2.8% to 20.07 billion from 19.51 billion in a year ago period.
Net profit in the quarter tumbled 19.8% from a year ago to 1.17 billion compared to 1.46 billion and diluted earnings per share dropped to 1.28 from 1.59.
climbed 2.8% to 62.53 after the France-based offshore platform services provider increased dividend to 2 per share for the fiscal 2014 and decided to offer an option to receive the dividend with new shares issued at 52.81.
The shareholders may opt for dividend payment in cash or in new ordinary shares between April 29 and May 15.