Europe Movers: Michelin, Pearson, Renault

Arthi Gupta
27 Jul, 2012
New York City

Linde and Michelin first-half earnings rose on revenue growth. Lafarge quarterly net plunged 80% on Greek impairment charges. Total earnings plunged 42% in the second quarter.

[R]1:30 PM Frankfurt – Linde and Michelin first-half earnings rose on revenue growth. Lafarge quarterly net plunged 80% on Greek impairment charges. Total earnings plunged 42% in the second quarter.[/R]

Lafarge SA dipped 0.4% to €36.01 after the cement maker reported second quarter sales rose 5% to €4.261 billion. Net income group share plummeted 80% to €57 million from €289 million.

Linde AG climbed 0.5% to €118.55 after the German industrial gases producer reported first-half group revenue grew 5.9% to €7.17 billion. Net profit attributable to shareholders increased to €591 million or €3.45 per share from €566 million or €3.32 per share in the previous year.

Michelin SCA gained 5.6% to €54.07 after the French tire maker said first half net sales improved to €10.706 billion from €10.105 billion in the prior year. Net income increased 37% to €915 million from €667 million.

Pearson PLC slumped 4.6% to 1,235 pence after the media and education company said first-half sales climbed 7% to £2.583 billion from £2.416 billion. Profit attributable to equity holders of the company fell to £43 million from £60 million. Earnings per share were 5.4 pence compared to 7.5 pence last year.

Renault SA advanced 3.9% to €35.10 after the automobile manufacturer said first-half group revenues dipped 0.8% to €20.935 billion from €21.1 billion a year earlier. Net income slumped to €786 million from €1.25 billion in the prior-year period.

The group sold 1.33 million units, down 3.3% on first-half 2011. For the full year, Renault expects global automotive demand to grow by 5%.

Total SA rose 2.1% to €36.88 after the oil and gas explorer reported second quarter sales of €49.14 billion, from €45.01 billion in the prior-year quarter, up 9%. Net income group share fell 42% to €1.59 billion from €2.73 billion a year ago.