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Market Update

Swiss Life Net Rises, Air Berlin Swings to Net Loss


Author: Nigel Thomas
ticker.com
Last Update: 11:57 AM ET August 14 2015

4:00 PM Frankfurt Air Berlin net swung to a loss on 7% decline in revenues. Basilea Pharma net loss widened to 30.1 million francs while revenues soared 23%. IMCD profit soared to 32.4 million. Swiss Life net increased 1% to 490 million francs.

In London trading, FTSE 100 index slid 10.41 or 0.2% to 6,558.86 and in Frankfurt the DAX index fell 41.69 or 0.4% to 10,972.82.

In Paris, CAC 40 index slumped 31.06 or 0.6% to 4,954.24.

For the week, FTSE 100 index dropped 2.4% and the DAX index plunged 4.5% and the CAC 40 index declined 3.9%.

Air Berlin Plc rose 0.6% to 1.12 after the Germany-based discount airline reported revenues in the second-quarter ending in June declined 6.6% to 1.07 billion from 1.15 billion in a year ago period.

Net loss in the quarter swung to loss of 43.53 million compared to profit of 7.71 million in the year ago period and diluted loss per share swung to 0.37 from diluted earnings per share of 0.03.

Basilea Pharmaceutica AG gained 1.8% to 106 Swiss francs after he Switzerland-based pharmaceutical research company said sales in the first-half period ending in June jumped 23.4% to 24.99 million francs from 20.25 million francs in a year ago period.

Net loss in the period widened from a year ago to 30.1 million francs compared to 19.4 million francs and diluted loss per share rose to 3 franc from 1.97 franc.

IMCD Group BV increased 1.7% to 32.63 after the Netherlands-based chemicals and food ingredients maker reported revenues in the first-half ending in June jumped 4% to 728.9 million from 702.4 million in a year ago period.

Net profit in the quarter soared from a year ago to 32.35 million compared to 1.86 million and diluted earnings per share increased to 0.64 from 0.56.

The company said as of June 30, free cash flow soared to 42.9 million compared to 29.4 million and net debt increased to 433.4 million from 257.8 million in the same period a year ago.

Swiss Life Holding AG jumped 2% to 238.40 Swiss francs after he Switzerland-based life insurance and pension services provider reported total revenues in the first-half period ending in June soared 5% to 12.19 billion francs from 11.62 billion francs in a year ago period.

Profit in the period increased 1% from a year ago to 490 million francs compared to 484 million francs and diluted earnings per share fell to 1.43 franc from 1.45 franc.

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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