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Market Update

Hannover, ING, Natixis Net Jump; Alstom, Lafarge Profit Decline


Author: Nigel Thomas
ticker.com
Last Update: 10:19 AM ET November 05 2014

4:00 PM Frankfurt Alstom profit tumbled 31% to 263 million but revenue climbed 13%. Hannover profit soared 10% to 695 million. ING net surged 625% to 928 million. Lafarge profit plunged 28% to 218 million. M&S net declined 7% to 226 million. Natixis net climbed 21% to 318 million.

In London trading, FTSE 100 index jumped 1.1% or 72.10 to 6,526.07 and in Frankfurt the DAX index climbed 1.6% or 148.01 to 9,314.48.

In Paris, CAC 40 index increased 1.6% or 64.55 to 4,194.74.

Alstom SA gained 1.9% to 28.40 after the France-based transport and energy infrastructure developer reported revenue in the first-half ending in September climbed 13% to 3.06 billion from 2.70 billion a year ago period.

Net profit in the period tumbled 31% from a year ago to 263 million compared to 381 million and diluted earnings per share dropped to 0.82 from 1.20.

During the quarter, new orders surged 134% to 6.41 billion and orders backlog climbed 19% to 26.93 billion, representing 53 months of sales.

Hannover Rueck SE increased 1.5% to 67.50 after the Germany-based reinsurer said group gross written premium in the third-quarter ending in September rose 1.6% to 10.70 billion from 10.54 billion a year ago period.

Net income in the period soared 10.3% from a year ago to 695.4 million compared to 630.2 million and earnings per share jumped 10.3% to 5.77 from 5.23.

ING Groep N.V rose 0.2% to 25.62 after the Netherlands-based bank said total revenues in the third-quarter ending in September jumped 4.5% to 3.94 billion from 3.77 billion a year ago period.

Net profit in the period surged 625% from a year ago to 928 million compared to 128 million and diluted earnings per share dropped to 0.82 from 1.20.

In the quarter, the lender set aside 322 million for the provision for loan losses, down from 552 million a year ago and 405 million in the previous quarter.

Lafarge SA climbed 2.1% to 53.76 after the France-based building materials producer reported sales in the third-quarter ending in September dropped 2% to 3.64 billion from 3.70 billion a year ago period.

Net profit in the period plunged 28% from a year ago to 218 million compared to 304 million and diluted earnings per share slumped to 0.75 from 1.05.

The company intends to cost cuts by 600 million in this year and 550 million in 2015.

Marks and Spencer Group Plc surged 9.3% to 442.20 pence after the U.K.-based clothing retailer said group sales in the first-half ending onSeptember 27 rose 1% to 4.90 billion from 4.88 billion a year ago period.

Profit in the period declined 6.7% from a year ago to 225.6 million compared to 241.9 million and diluted earnings per share 13.8 pence from 15.3 pence.

Natixis SA jumped 1.9% to 5.41 after the France-based banking, financial and investment service provider said net revenues in the third-quarter ending in September increased 3% to 1.87 billion from 1.82 billion a year ago period.

Net income in the period climbed 21% from a year ago to 318 million compared to 263 million and earnings per share jumped 10.3% to 5.77 from 5.23.

Roche Holding Ltd increased 1.5% to 286.20 francs after the Switzerland-based pharmaceutical maker plans to invest 450 million francs in next three years to establish a new diagnostic manufacturing facility for clinical tests in Suzhou, China.

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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