S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

Diageo Plans 1.4 B Share Repurchase, TUI Loss Narrows


Author: Sarla Buch
ticker.com
Last Update: 11:45 AM EDT August 10 2018

4:00 PM Frankfurt Bechtle profit and revenues surged. Diageo plans to launch share buyback for up to 1.4 billion. Innogy profit declined on higher commodity prices. K+S missed fiscal 2018 operating profit forecast. TUI net loss narrowed on strong revenues and higher summer bookings.

In London trading, FTSE 100 index dropped 76.39 or 1% to 7,665.18 and in Frankfurt the DAX index plummeted 250.32 or 1.9% to 12,425.79.

In Paris, CAC 40 index declined 99.81 or 1.8% to 5,402.43.

Bechtle AG jumped 4.1% to 82.30 after Germany-based hardware and software services provider said revenues in the first-half ending in June surged 18.2% from a year ago to 1.9 billion.

Net profit in the period soared 17% to 55.6 million from 47.5 million in the same period a year ago and diluted earnings per share advanced to 1.32 from 1.13.

Bechtle said revenues in the domestic business jumped 16.2% to 1.3 billion and revenues in the international segment surged 22.4% to 609.6 million from a year ago period.

Diageo Plc gained 0.6% to 2,813.50 pence after the U.K.-based alcoholic beverages producer plans to launch first tranche of the share buyback for up to 1.4 billion through January 31, 2019.

Innogy SE slipped 0.6% to 37.52 after Germany-based renewable energy services provider said revenues in the first-half ending in June dropped 4.8% from a year ago to 20.7 billion.

Net profit in the period jumped 4% to 850 million from 817 million in the same period a year ago and diluted earnings per share increased to 1.53 from 1.47.

Innogy said operating profit in the period declined to 701 million from a year ago period.

K&S AG plunged 8.1% to 20.80 after Germany-based salt and specialty fertilizers producer forecasted fiscal 2018 operating profit between 660 million and 740 million from 577 million reported in the same period a year ago.

TUI AG jumped 2.3% to 17.54 after Germany-based travel and tourism services provider reported revenues in the first-half ending in June soared 6.3% from a year ago to 11.8 billion.

Net loss in the period narrowed to 124.2 million from 315.2 million in the same period a year ago and diluted loss per share were flat at 0.28 from a year ago period.

The travel and tourism services provider said summer bookings advanced by 4% despite the heat wave in Europe.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc