4:00 PM Frankfurt Aryzta tumbled on profit warnings. Givaudan reported strong full-year financial performance. LVMH reported better-than-expected sales growth. Nordea Bank profit tumbled on weak activity. Telia net plummeted on hefty impairments.
In London trading, FTSE 100 index advanced 47.53 or 0.6% to 7,663.59 and in Frankfurt the DAX index increased 40.01 or 0.3% to 13,338.37.
In Paris, CAC 40 index jumped 53.74 or 0.9% to 5,535.20.
For the week, FTSE 100 index slumped 0.9%, the DAX index dropped 0.7% and the CAC 40 index rose 0.2%.
plunged 11.4% to 26.50 Swiss francs after Switzerland-based specialty bakery products maker lowered fiscal 2018 operating profit to about 15% from the earlier estimate of 20% in Europe and the U.S. However, revenue excluding Cloverhill, were relatively stable.
dropped 2.5% to 2,193 Swiss francs after Switzerland-based fragrance and flavors maker said sales in the fourth-quarter ending in December jumped 4.9% from a year ago to 5.1 billion francs.
Net income in the quarter surged 11.7% to 720 million francs from 644 million francs in a year ago period and diluted earnings per share advanced to 78.18 francs from 69.95 francs.
Givaudan said sales in fragrance division advanced 4.5% to 2.3 billion francs and sales in flavor segment soared 5.3% to 2.7 billion francs.
LVMH Moet Hennessy Louis Vuitton SE
soared 5.1% to 252.40 after France-based luxury goods maker said revenues in the year ending in December surged 13% from a year ago to 42.6 billion.
Net profit in the year jumped 29% to 5.1 billion from 3.98 billion in a year ago period and diluted earnings per share soared to 10.18 from 7.89.
LVMH said sales growth in the fourth quarter was driven by steady recovery in Asian demand.
Nordea Bank AB
gained 1.1% to 97.60 Swedish kronor after Sweden-based banking services provider said net interest income in the fourth-quarter ending in December declined 8% from a year ago to 1.1 billion.
Net profit in the period tumbled 43% to 629 million from 1.1 billion in a year ago period and diluted earnings per share plummeted to 0.15 from 0.27.
There are plenty of risks beneath the surface, thus, it is important to be mindful, said chief executive officer Casper von Koskull.
Telia Company AB
jumped 4.5% to 38.77 Swedish kronor after Sweden-based communication services provider reported net sales in the fourth-quarter ending in December rose 0.3% from a year ago to 21.2 billion kronor.
Net income in the quarter plummeted 754 million kronor from 7.34 billion kronor in a year ago period and diluted earnings per share slumped to 0.17 kronor from 1.69 kronor.
The telecom services provider is in process to divest or liquidate its assets in Eurasia and take 3.85 billion kronor of impairments charges.
Subscription numbers in the quarter fell to 23.1 million from 23.4 million in the same period a year ago.
Separately, today Telia and Turkcell agreed to divest its holding in Geocell LLC to the Georgian fixed network operator JSC Silknet for about $153 million.
The transaction is expected to complete in the second-quarter of 2018.