4:00 PM Frankfurt – ARM Holdings net swung to profit to £73 million. Glencore plans to divest 23.9% stake in Lonmin. Heineken net soared 11% to €1.5 billion. ING profit surged 89% to €1.2 billion. Reckitt Benckiser net soared 85% to £3.2 billion. Tullow net swung to a loss to $1.6 billion.
European market indexes declined ahead of meeting of finance ministers of the euro zone and the prospect of an agreement for the 10 billion euro bridge loan to Greece appeared dim.
Market indexes traded volatile across the euro zone and the ASE Index fell as much as 5% and equity indexes in Portugal and Spain declined 0.9%.
Greek 3-year bond yield rose 110 basis points to in Athens to 20.65%.
Investors anticipate a compromise between Germany and Greece paving the way for the release of bridge loan and averting debt repayment crisis for Greece and also give time to the newly elected government to organize its budget.
In London trading, FTSE 100 index slipped 0.5% or 31.81 to 6,797.31 and in Frankfurt the DAX index rose 0.1% or 11.24 to 10,765.07.
In Paris, CAC 40 index fell 0.2% or 9.98 to 4,685.67.
ARM Holdings Plc
climbed 3.7% to 1,095 pence after the microprocessor maker said revenues in the fourth-quarter ending in December climbed 19% to £225.9 million from £189.1 million a year ago period.
Net in the quarter swung to profit from a year ago to £72.8 million compared to a loss of £6.2 million and diluted earnings per share swung to 5.1 pence from a loss per share of 0.4 pence.
fell 0.3% to 270.35 pence after the pence after the Switzerland-based diversified natural resource explorer plans to divest 23.9% stake in South African platinum miner Lonmin Plc worth about $367 million during the first-half of this year in response to ""the volatile market backdrop.""
The company lowered capital spending of 2015 between $6.5 billion and $6.8 billion less than the earlier estimate of $7.9 billion.
jumped 2.5% to €66.24 after the Netherlands-based beer maker reported revenues in the year ending in December edged up 0.1% to €21.19 billion from €21.17 billion a year ago period.
Net profit in the year soared 11% from a year ago to €1.52 billion compared to €1.36 billion and diluted earnings per share increased to €3.05 from €2.75.
, the Netherland-based bank said revenues in the fourth-quarter ending in December dropped 1.6% to €3.76 billion from €3.82 billion a year ago period.
Net profit in the year surged 88.5% from a year ago to €1.18 billion compared to €626 million and diluted earnings per share increased to €0.30 from €0.16.
Reckitt Benckiser Group Plc
advanced 3.2^ to 5,765 pence after the household, health and personal care maker reported net revenues in the year ending in December declined 4.6% to £8.84 billion from £9.27 billion a year ago period.
Net income in the year soared 85.1% from a year ago to £3.22 billion from £1.74 billion and diluted earnings per share jumped to 213.5 pence from 46.2 pence.
Tullow Oil Plc
plunged 6.4% to 387.68 pence after the U.K.-based oil and gas explorer said sales revenues in the year ending in December declined 16% to $2.21 billion from $2.65 billion a year ago period.
Net in the year swung to a loss from a year ago to $1.64 billion compared to profit of $216.1 million and loss per share swung to a 168.5 cents from earnings per share of 18.5 cents.