Europe Movers: Aviva, Commerzbank, Nestle, Swiss Re

Arthi Gupta
09 Aug, 2012
New York City

Aviva swung to loss but Nestl

[R]3:45 PM Frankfurt – Aviva swung to loss but Nestlé earnings rose in the first-half. Deutsche Telekom second quarter net soared 76.4% to €614 million but Swiss Re consolidated net income plunged 91%.[/R]

Aviva plc declined 1.5% to 313.60 pence after the British insurer reported first-half net loss attributable to shareholders was £745 million or 26 pence per share compared to a profit of £125 million or 15.1 pence per share last year.

Bilfinger Berger SE added 3.1% to €69.13 after the German builder said first-half net income slumped 39% to €161 million compared with €264 million a year before. On a per share basis, earnings fell to €3.65 from €5.99 last year.

Commerzbank AG slumped 4.4% to €1.23 after the bank reported first-half operating profit fell to €1.04 billion or 17 cents per share compared to €1.2 billion or 53 cents per share in the preceding year.

Deutsche Telekom AG declined 2.5% to €9.16 after the telecommunications provider reported second quarter net revenue edged down 0.7% to €14.4 billion. Net profit soared 76.4% to €614 million from €348 million the prior year.

Deutsche Lufthansa AG dropped 1% to €9.86 after the German aviation group reported passengers flown in July rose 2.1% to 10.15 million from the year-ago month.

Nestlé SA soared 3.4% to Sfr61.70 after the food company said first-half total group sales increased 7.5% to Sfr44.1 billion. Net profit increased 8.9% to Sfr5.1 billion, from Sfr4.7 billion last year.

Swiss Re AG fell 2.21% to Sfr60.55 after the reinsurer reported second-quarter consolidated net income plunged 91% to $83 million from $960 million last year.