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Market Update

Henkel, Legal & General Profit Climb; Fresnillo, Standard Chartered Net Drop


Author: Nigel Thomas
ticker.com
Last Update: 10:50 AM ET March 04 2015

4:00 PM Frankfurt Fresnillo net tumbled 55% to $108 million. Henkel net jumped 3% to 1.6 billion. ITV net soared 43% to 473 million. Legal & General profit climbed 10% to 992 million. Standard Chartered net plummeted 36% to $2.7 billion.

In London trading, FTSE 100 index fell 0.2% or 14.99 to 6,874.14 and in Frankfurt the DAX index decreased 0.2% or 22.13 to 11,258.23.

In Paris, CAC 40 index rose 0.2% or 7.78 to 4,877.03.

Fresnillo Plc declined 5.6% to 748.50 pence after the U.K.-based silver and gold producer reported revenues in the year ending in December plunged 12.5% to $1.41 billion from $1.62 billion a year ago period.

Net profit in the year tumbled 54.9% from a year ago to $108.4 million compared to $240.4 million and diluted earnings per share slumped to 14.7 cents from 32.9 cents.

The company forecasted to produce 65 million ounces of silver and 750,000 ounces of gold in fiscal 2018.

Henkel AG & Co KGaA slumped 3.5% to 92.29 after the Germany-based home care and consumer goods maker reported sales in the year ending in December edged up 0.4% to 16.43 billion from 16.36 billion a year ago period.

Net profit in the year jumped 2.5% from a year ago to 1.63 billion compared to 1.59 billion and diluted earnings per share rose to 3.74 from 3.65.

The company forecasted adjusted EBIT for fiscal 2015 to climb 16% and earnings per share to soar 10%.

ITV Plc jumped 4.9% to 232.70 pence after the U.K.-based broadcasting company stated total revenues in the year ending in December advanced 8.4% to 2.59 billion from 2.39 billion a year ago period.

Net profit in the year soared 43.3% from a year ago to 473 million compared to 330 million and diluted earnings per share jumped to 11.5 pence from 8.1 pence.

Legal & General Group Plc dropped 3.4% to 268.70 pence after the U.K.-based insurer reported revenues in the year ending in December soared 31.2% to 51.52 billion from 39.26 billion a year ago period.

Net profit in the year climbed 9.5% from a year ago to 992 million compared to 906 million and diluted earnings per share increased to 16.54 pence from 15 pence.

The insurer said net premiums earned climbed 71.7% to 9.05 billion and insurance premiums jumped 8% to 3 billion.

At the end of year, total assets surged 15.8% to 708.5 billion from 611.6 billion a year ago period.

Standard Chartered Plc climbed 4.1% to 1,014 pence after the U.K.-based retail and commercial bank said interest income in the year ending in December dropped 3.5% to $16.98 billion from $17.59 billion a year ago period.

Net profit in the year plummeted 35.7% from a year ago to $2.70 billion compared to $4.20 billion and diluted earnings per share slumped to 101.6 cents from 163 cents.

The bank added impairments in 2014 for loans and other credit risks climbed 33% to $2.14 billion from $1.62 billion in a year ago period and considered $726 million good will impairment related to its Korean business.

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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