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Market Update

GlaxoSmithKline Net Jump on New Drugs Demand, Lloyds Banking Net Soars


Author: Sarla Buch
ticker.com
Last Update: 12:58 PM EDT October 25 2017

4:00 PM Frankfurt Lufthansa said deal with the smaller rival Air Berlin is expected to generate positive impact in 2019. Fiat Chrysler profit soared despite shipment fell 6%. GlaxoSmithKline profit surged on strong demand for Tivicay and Relvar. Lloyds Banking lifted fiscal outlook.

In London trading, FTSE 100 index dropped 46.45 or 0.6% to 7,480.25 and in Frankfurt the DAX index slid 3.95 to 13,009.60.

In Paris, CAC 40 index increased 7.74 to 5,402.53.

Deutsche Lufthansa AG advanced 3.4% to 27.09 after Germany-based airline services provider reported revenues in the nine-month ending in September soared 12.1% from a year ago to 26.8 billion.

Net income in the period rose 0.1% to 1.853 billion from 1.851 billion in a year ago nine-month period and diluted earnings per share advanced to 3.99 from 3.98.

The airline services provider said operating profit in the period jumped 4.5% to 2.4 billion but operating margin fell 9.1% compared to the 9.8% and total passengers in the period surged 17.5% to 98.4 million and overall load factor increased by 3 percentage points to 76.8% from a year ago period.

Lufthansa plans to invest 1.5 billion in total and will acquire 81 additional aircraft to grow its Eurowings budget brand.

Fiat Chrysler Automobiles NV (FCAU) slipped 1.3% or 23 cents to $17.22 after the U.S. and Europe focused automobiles manufacturer reported net revenues in the third-quarter ending in September fell 2% from a year ago to 26.4 billion.

Net income in the quarter soared 50% to 910 million or 0.58 per diluted share from 606 million or 0.39 in the same quarter last year.

Fiat Chrysler said shipments in the quarter in North America dropped 6% to 592,000 units.

GlaxoSmithKline Plc declined 4.6% to 1,445 pence after the U.K.-based drugs and healthcare products maker reported revenues in the nine-month ending in September surged 11% from a year ago to 22.5 billion.

Net profit in the period soared to 2.5 billion from 745 million in a year ago nine-month period and diluted earnings per share jumped to 42.1 pence from 13.4 pence.

The consumer healthcare products maker said the surge in sales was driven by strong demand for new products Tivicay for HIV and Relvar for lung treatment.

Lloyds Banking Group Plc gained 0.7% to 67.86 pence after the U.K.-based banking and financial services provider reported total revenues in the nine-month ending in September jumped 6% from a year ago to 13.9 billion.

Net profit in the period surged 50% to 3.1 billion from 2.1 billion in a year ago nine-month period and diluted earnings per share increased to 3.9 pence from 2.5 pence.

The lender said pretax profit in the quarter surged to 1.95 billion from 811 million while net interest income jumped to 3.19 billion from 2.85 billion in a year ago period and the acquisition of MBNA is expected to complete in the first quarter of 2019, ahead of schedule.

The mortgage lender booked no additional payment protection insurance provisions but booked 270 million impairment charge without any explanations but lifted fiscal 2017 net interest margin to about 2.85%.

Sartorius AG increased 2.9% to 78.58 after Germany-based pharmaceutical and laboratory equipment supplier said revenues in the nine-month ending in September jumped 8.1% from a year ago to 1 billion.

Net income in the period jumped 6.9% to 105.7 million from 98.9 million in a year ago nine-month period and diluted earnings per share rose to 1.54 from 1.44.

Sartorius said the lab products and services division recorded significant double-digit growth after organic growth and acquisitions.

The lab equipment provider lowered sales revenue forecast to increase 9% from the earlier estimate of 12% to 16%.

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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