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Market Update

European Markets Trend Lower, Unilever Revenues Soars 12%

Author: Nigel Thomas
Last Update: 12:31 PM ET April 16 2015

4:00 PM Frankfurt – Debenhams pre-tax profit jumped 4% to £89 million. Diageo sales in the third-quarter fell 0.7%. SABMiller sales in the fourth-quarter jumped 2%. Unilever sales in the first-quarter soared 12% to €12.8 billion.

Market indexes in Europe traded lower a day after the European Central Bank chief highlighted the benefits of bond-buying program.

German government bond yield jumped to a new record high a day after the European Central Bank reaffirmed its commitment to continue to flood financial system with the newly printed money.

The yield on country’s 30-year bond dipped below 0.47% and on 10-year bond dropped to a new low of 0.073%.

In London trading, FTSE 100 index slipped 0.4% or 26.88 to 7,069.90 and in Frankfurt the DAX index declined 1.7% or 206.50 to 12,024.84.

In Paris, CAC 40 index dropped 0.5% or 24.75 to 5,229.60.

Debenhams Plc soared 6.8% to 85 pence after the online retailer said revenue in the first-half ending in February rose 1.6% to £1.3 billion from a year ago period.

Online sales surged 12.7% and comparable sales in the period increased 1.3%.

Pre-tax profit in the period jumped 4.3% from a year ago to £88.9 million compared to £85.2 million.

Diageo Plc declined 3.2% to 1,906 pence after the U.K.-based spirits, beer, wine and ready to drinks maker reported net sales in the third-quarter ending in March declined 0.7% and volume in the quarter dropped 0.8%.

Diageo said sales in the Europe fell 1.3% but sales in Latin America and Caribbean plunged 10.2% and sales in North America increased 0.9%. Sales in Asia Pacific dropped 6%.

SABMiller Plc gained 1.3% to 3,632.50 pence after the U.K.-based beverages maker said sales in the fourth-quarter ending in March jumped 2% and for the year climbed 3%.

The company said total beverage volumes in the quarter increased 4% and rose 1% in the year.

SABMiller reported sales in the Asia-Pacific region soared 7% and sales in Africa region soared 12% and in Latin America advanced 8%.

Unilever Plc climbed 3.5% to 3,036 pence after the U.K.-based consumer goods maker reported sales in the first-quarter soared 12.3% to €12.80 billion from €11.40 billion from a year ago period.

The company said sales in personal care division climbed 15.3% to €4.79 billion and sales in food division jumped 6.3% to €3.21 billion.

Revenues in homecare products surged 16.8% to €2.53 billion and revenues in refreshment segment soared 10.3% from a year ago to €2.28 billion.

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