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Market Update

Glaxo Cautious on Outlook, Rio Tinto Rewards Shareholders


Author: Sarla Buch
ticker.com
Last Update: 9:58 AM EST February 07 2018

4:00 PM Frankfurt ABN Amro reported better-than-expected fiscal results. Carlsberg profit tumbled on weak sales. Glaxo earnings and sales surged. Hexagon beat earnings forecasts. Rio Tinto reported strong result with cash flow of $14 billion. Sanofi net profit slides as sales dropped.

In London trading, FTSE 100 index surged 129.63 or 1.8% to 7,271.05 and in Frankfurt the DAX index advanced 183.96 or 1.5% to 12,576.03.

In Paris, CAC 40 index jumped 78.28 or 1.5% to 5,240.09.

ABN AMRO Group NV declined 3.1% to 25.40 after the Netherlands-based financial and banking service provider said net interest income in the year ending in December increased 3% from a year ago to 6.5 billion.

Net profit in the year surged 55% to 2.8 billion from 1.8 billion in a year ago period and diluted earnings per share increased to 6.05 from 6.

Carlsberg A/S slumped 2.8% to 688 Danish krone after Denmark-based brewery, beer and soft drinks producer said total revenues in the year ending in December fell 1.3% from a year ago to 61.8 billion krone.

Net profit in the year tumbled 71.1% to 1.3 billion krone from 4.5 billion krone in a year ago period and diluted earnings per share dropped to 8.2 krone from 29.4 krone.

GlaxoSmithKline Plc increased 1.3% to 1,258.80 pence after the U.K.-based healthcare products maker said total revenues in the year ending in December jumped 8% from a year ago to 30.2 billion.

Net income in the year soared 64.5% to 1.5 billion from 912 million in a year ago period and diluted earnings per share advanced to 31 pence from 18.6 pence.

Hexagon AB soared 9.7% to 495 Swedish krona after Sweden-based information technology provider reported net sales in the year ending in December advanced 5% from a year ago to 3.4 billion krona.

Net profit in the year jumped 16% to 673.8 million krona from 578.6 million krona in a year ago period and diluted earnings per share increased to 1.85 krona from 1.59 krona.

Rio Tinto Plc gained 0.9% to 3,878.50 pence after the U.K.-based mining and metals producer stated total revenues in the year ending in December soared 18.5% from a year ago to $40 billion.

Net income in the year surged 91.3% to $8.8 billion from $4.6 billion in the same period a year ago period and diluted earnings per share jumped to $4.87 from $2.55.

The miner said as of December 30, net debt declined 60% to $3.85 billion and operating cash flow increased to $13.9 billion.

The miner also reported record full-year dividend of $5.2 billion and additional $1 billion for share buy-back to bring total declared cash returns to shareholders of $9.7 billion in 2017.

Sanofi SA decreased 1.4% to 66.59 after France-based drug maker reported revenues in the year ending in December rose 3.5% from a year ago to 35.1 billion.

Net profit in the year jumped 79.1% to 8.4 billion from 4.7 billion in a year ago period and diluted earnings per share advanced to 3.02 from 3.42.

Vestas Wind Systems A/S jumped 3.8% to 422.20 Danish krone Denmark-based wind power producer said revenues in the year ending in December slid 2.5% from a year ago to 9.9 billion krone.

Net profit in the year declined 7.4% to 894 million krone from 965 million krone in a year ago period and diluted earnings per share decreased to 4.20 krone from 4.39 krone.

In fiscal 2018, the wind power producer forecasted revenues in the range of 10 billion krone to 11 billion krone and operating margin between 9% and 11%.

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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