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Market Update

Kering Profit Soars on Gucci, YSL and Puma, TUI Reaffirms 2018 Outlook


Author: Sarla Buch
ticker.com
Last Update: 11:58 AM EST February 13 2018

4:00 PM Frankfurt Aurubis net surged and copper smelter said it is in preliminary talks to sell its flat rolled products unit. Kering said profit was lifted by Gucci, Yves Saint Laurent and Puma brands. TUI reaffirmed fiscal 2018 outlook. Ubisoft revenues surged 47%.

In London trading, FTSE 100 index edged down 0.96 to 7,176.10 and in Frankfurt the DAX index slid 27.28 or 0.2% to 12,258.64.

In Paris, CAC 40 index fell 11.40 or 0.2% to 5,128.65.

Aurubis AG plunged 7.9% to 73.96 after Germany-based copper and metals smelter said revenues in the first-quarter ending in December soared 17% from a year ago to 2.9 billion.

Net profit in the quarter surged to 79 million from 18 million in a year ago period and diluted earnings per share jumped to 2.88 from 1.73.

Separately yesterday, copper smelter said that it is in preliminary talks to sell its flat rolled products unit to Wieland-Werke AG.

Kering slumped 3.8% to 365.50 after France-based fashion goods retailer reported revenues in the year ending in December jumped 25.4% from a year ago to 15.5 billion.

Net profit in the year more than doubled to 1.8 billion from 813.5 million in a year ago period and diluted earnings per share increased to 14.17 from 6.46.

Kering said revenue in the luxury business soared 29% to 10 billion and Gucci and Yves Saint Laurent delivered spectacular revenues growth of 44.6% and 25.3% respectively and revenues growth in Puma advanced 15.8% to 4 billion.

TUI AG advanced 3.3% to 18.53 after Germany-based tourism services provider said revenues in the first-quarter ending in December jumped 8.1% from a year ago to 3.5 billion.

Net loss in the quarter narrowed to 99.6 million from 117.5 million in a year ago period.

Ubisoft Entertainment SA jumped 4.3% or 65.86 after France-based video games maker reported revenues in the nine-month period ending in December surged 46.8% from a year ago to 1.2 billion.

Ubisoft estimated fourth-quarter revenues to decline to 449 million from the 648.6 million in a year ago period.

The video games maker forecasted fiscal 2018 revenues of about 2.1 billion and operating income of about 440 million.

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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