Europe Movers: Akzo, Alstom, Electrolux, Remy Cointreau

Arthi Gupta
19 Jul, 2012
New York City

Akzo Nobel climbed after second quarter revenues increased 8% and net income fell less than expected 22%. Alstom SA said first quarter new orders increased 20% and sales surged 6%. Electrolux AB gained after quarterly net rose 36%.

Actelion Ltd. gained 2.9% to Sfr42.43 after the biopharmaceutical company reported first-half product sales fell 3% in local currencies to Sfr861.8 million. Net income for the first half swung to Sfr173.7 million compared with a net loss of Sfr262.3million in the 2011 period.

Akzo Nobel NV climbed 5% to €42.53 after the paint manufacturer stated second quarter revenues climbed 8% to €4.41 billion from the previous year. Net income from continuing operations fell 21.5% to €197 million from €251 million reported a year ago.

Alstom SA soared 3% to €26.88 after the equipment and services provider said the company booked €6 billion orders in the first quarter, up 20% compared to the first quarter last year. Sales grew 6% to €4.8 billion in the fiscal first quarter.

Electrolux AB surged 3.5% to SEK 149.80 after the Swedish appliance maker stated second quarter net rose 15% to SEK 27.76 billion compared with last year. Net income in the quarter surged 36% to SEK 763 million or SEK 2.67 per share compared to SEK 561 million or SEK 1.97 Swedish kronor per share last year.

The company said strong organic growth, especially in Latin America and Asia, contributed to the favorable development of net sales.

Euler Hermes SA rose 0.7% to €48.25 after the credit insurance company said first-half consolidated revenue rose 21.9% to €1.59 billion at current exchange rates from the prior-year period.

Novartis AG climbed 0.5% to Sfr55.35 after the drugmaker said second quarter net sales fell 4% to $14.3 billion from the same quarter a year earlier. Net income stood flat at $2.73 billion. Earnings per share dropped to $1.12 from $1.13 earned a year ago.

Alcon net sales grew 1% to $2.6 billion in the quarter.

Rémy Cointreau increased 4.7% to €91.90 after the wines and spirits manufacturer said first quarter sales surged 36.8% to €271.6 million from last year.

Saab AB inched 0.3% to SEK 116.90 after the Swedish aerospace and defense firm said second quarter sales climbed 6.3% to SEK 6.23 billion compared with a year earlier. Net income increased 28.7% to SEK 538 million from SEK 418 million last year.

Tele2 AB edged higher 3% to SEK 114.90 after the Swedish telecom operator said second quarter net sales rose 10% to SEK 11.06 billion from last year. Net profit in the quarter fell 23% to SEK 849 million or SEK 1.90 per share compared with SEK 1.11 billion or SEK 2.49 per share a year ago.