Europe Movers: BMW, Henkel, Societe Generale, Fresenius

Arthi Gupta
01 Aug, 2012
New York City

Societe Generale second quarter earnings slumped marked by a significant slowdown in economic growth in Europe. Standard Chartered first-half profit rose 11%. Fresenius quarterly group sales grew 20%.

[R]3:00 PM Frankfurt – Societe Generale second quarter earnings slumped marked by a significant slowdown in economic growth in Europe. Standard Chartered first-half profit rose 11%. Fresenius quarterly group sales grew 20%.[/R]

BMW AG plunged 4.7% to €57.89 after the automobile manufacturer reported second quarter revenues rose 7.3% to €19.2 billion from €17.9 billion in the previous year. The number of vehicles sold in the quarter increased 5.4% to 475,011 units.

Net profit in the quarter declined 28.1% to €1.277 billion from €1.775 billion last year.

ENI S.p.A. rose 0.1% to €16.85 after the Italian oil and gas company reported second quarter net sales climbed 24.6% to €30.06 billion from €24.12 billion in 2011. Net profit from continuing operations decreased 87% to €156 million.

Fresenius SE & Co. KGaA dipped 0.6% to €86.25 after the German healthcare provider reported second quarter group sales grew 20% to €4.82 billion from €4 billion in the same quarter last year. Net income surged to €212 million or €1.21 per share from €129 million or 78 cents per share reported last year.

Henkel AG & Co. KGaA climbed 1.4% to €59.29 after the detergent maker reported first half sales climbed 5.6% to €8.214 billion. Net income in the period rose 21.8% to €817 million from €671 million last year.

Schneider Electric S.A. rose 2.6% to €47.23 after the energy management specialist stated first-half sales grew 10% to €11.41 billion from €10.34 billion in the 2011 first half. Net income group share climbed 11% to €890 million from €802 million last year. Earnings per share rose to €1.65 from €1.50 last year.

Societe Generale SA dropped 1.2% to €17.80 after the French lender reported second quarter group net income declined to €433 million from €747 million last year. Net income fell 3.6% to €6.27 billion.

Standard Chartered PLC gained 3.9% to 1,521.50 pence after the lender reported first-half profit increased 11% to $2.856 billion from $2.566 billion. Net interest income climbed to $5.483 billion from $4.941 billion.

Suez Environnement Company SA dropped 1.1% to €8.84 after the water and waste services provider said first-half revenue dropped to €7.32 billion from €7.38 billion in the prior-year period. Net income group share plunged to €40 million from €221 million last year.