4:00 PM Frankfurt – Loomis annual profit missed estimates. Philips Electronics reported higher profit. Siemens Gamesa held out for positive outlook in India. SAP plans to acquire Callidus in $2.4 billion. UBM agreed to be acquired by Informa for £3.9 billion.
In London trading, FTSE 100 index dropped 52.45 or 0.7% to 7,619.08 and in Frankfurt the DAX index declined 112.58 or 0.8% to 13,211.92.
In Paris, CAC 40 index slumped 27.28 or 0.5% to 5,494.30.
plunged 8.6% to 301.60 Swedish kronor after Sweden-based cash handling services provider reported total revenues in the year ending in December jumped 3% from a year ago to 17.2 billion kronor.
Net income in the quarter soared 13.5% to 1.4 billion kronor from 1.3 billion kronor in a year ago period and diluted earnings per share advanced to 18.99 kronor from 16.73 kronor.
Koninklijke Philips NV
declined 4.5% to €32.41 after the Netherlands-based health technology provider reported revenues in the year ending in December rose 2.3% from a year ago to €17.8 billion.
Net profit in the period surged 14.5% to €1.7 billion from €1.5 billion in a year ago period and diluted earnings per share jumped to €1.75 from €1.56.
""We expect our markets to grow between 3% and 5% on a comparable basis in 2018,"" said chief executive officer Frans van Houten.
Siemens Gamesa Renewable Energy SA
soared 4.9% to €12.82 after Spain-based wind turbine maker said revenues in the first-quarter ending in December declined 23% from a year ago to €2.1 billion and net income tumbled 87% to €35 million.
The wind-turbine maker said it estimated markets in India had trouble in 2017 which will stabilize in 2018 and return to normal in 2019.
dropped 1.7% to €90.55 after Germany-based software and service provider said its U.S.-based unit SAP America Inc plans to acquire cloud-based human resources software maker Callidus Software Inc for about $2.4 billion.
The enterprise application software developer reported revenues in the year ending in December soared 6% from a year ago to €23.5 billion.
Net profit in the period jumped 10% to €4 billion from €3.6 billion in a year ago period and diluted earnings per share advanced to €3.35 from €3.04.
Separately today, SAP forecasted fiscal 2018 revenues in the cloud business to jump between 27% and 33% or in the range of €4.8 billion to €5 billion.
SAP also estimated fiscal 2018 total revenue growth in the range of €24.6 billion to €25.1 billion and operating profit to be in a range of €7.3 billion to €7.5 billion.
jumped 4.4% to 907.50 pence after the U.K.-based event organizer agreed to be acquired by domestic larger rival Informa Plc for about £3.90 billion or $5.47 billion.
Under the terms, shareholders of UBM will receive 1.083 new Informa shares and 163 pence in cash.
The transaction is expected to close in the second-quarter of 2018.
Separately today, UBM forecasted fiscal 2017 total group revenue of about £1 billion form a year ago period.