4:00 PM Frankfurt – ams AG, the maker of sensors and electronics said net swung to a loss. Troubled Ericsson reported higher than expected losses as the telecom maker struggles with double digit sales decline. LVMH offered €12 billion to Dior Novartis meets expectations of lower income. Cautious outlook from Whitbread surprised the market.
In London trading, FTSE 100 index rose 13.49 or 0.2% to 7,278.17 and in Frankfurt the DAX index added 12.06 or 0.1% to 12,467.04.
In Paris, CAC 40 index increased 9.70 or 0.2% to 5,278.55.
surged 16.9% to 63.05 Swiss franc after Austria-based semiconductors and microchips maker said revenues in the first-quarter ending in March jumped 8.8% from a year ago to €149.3 million.11
Net in the quarter swung to a loss from a year ago to €16.2 million from profit of €13.6 million and diluted loss per share swung to €0.22 from diluted earnings per share of €0.20.
AMS forecasted revenue growth in the second-quarter in the range of €174 million to €181 million and operating margin to break even.
plunged 6.4% to 260.50 Swedish kronor after Sweden-based metal and mining producer stated revenues in the first-quarter ending in March jumped 44.3% from a year ago to 12.7 billion kronor.
Net profit in the quarter surged 159.1% from a year ago to 1.7 billion kronor from 656 million kronor and diluted earnings per share jumped to 6.10 kronor from 2.40 kronor.
The miner said slowdown in output led to the surge in net debt in the quarter to 8.4 billion kronor from 5.6 billion kronor in the same period a year ago.
Telefonaktiebolaget LM Ericsson
dropped 3.3% to 54.35 Swedish kronor after the Sweden-based telecom services provider reported net sales in the first-quarter ending in March declined 11% from a year ago to 46.4 billion kronor.
Net in the quarter swung to a loss of 10.9 billion kronor from 2.1 billion kronor prfoti in a year ago period and diluted earnings per share swung to a loss of 3.29 kronor from diluted earnings per share of 0.60 kronor.
The mobile telecom equipment maker said decline in sales after write-downs and restructuring charges of 13.4 billion.
The telecom services provider said network segment delivered a solid result despite lower sales, while losses in information technology and cloud and media business segment increased significantly. However, the telecom equipment maker said immediate priority is to improve profitability.
Ericsson forecasted sales in the current full-year may negatively impact by about 10 billion kronor and sales may decline in the years to 2019. The company estimated restructuring charges in 2017 between 6 billion kronor and 8 billion kronor.
LVMH Moet Hennessy Louis Vuitton SE
jumped 4.3% to €223.70 after the French billionaire Bernard Arnault is said to consider consolidation of France-based wine, spirit and luxury goods maker and Christian Dior in a €12.1 billion or $17.4 billion cash and stock transaction.
Under the terms, the Arnault family offered Christian Dior €260 per share, representing a premium of 15% above the closing price of Monday.
Christian Dior SA stock surged 11.9% to €253.90.
soared 5.8% to €31.05 after Finland-based industrial technology and services provider said revenues in the first-quarter ending in March advanced 8% from a year ago to €648 million.
Net profit in the quarter jumped 25.9% from a year ago to €34 million from €27 million and diluted earnings per share increased to €0.23 from €0.18.
advanced 2.4% to 75.85 Swiss francs after Switzerland-based healthcare products maker reported net sales in the first-quarter ending in March fell 1% from a year ago to $11.5 billion.