Europe Movers: Addex, Delhaize, Heineken, Vestas

Arthi Gupta
22 Aug, 2012
New York City

BHP Billiton full year profit slumped 35% on weakness in commodity markets and industry wide cost pressure. Hochschild first-half net revenue fell 29%. Vestas swung to loss in the second quarter.

[R]1:45 PM Frankfurt – BHP Billiton full year profit slumped 35% on weakness in commodity markets and industry wide cost pressure. Hochschild first-half net revenue fell 29%. Vestas swung to loss in the second quarter.[/R]

Addex Therapeutics plunged 7.9% to Sfr7.80 pence after the allosteric modulators developer said first-half net loss narrowed to Sfr14.76 million or Sfr1.91 per share compared to a loss of Sfr14.83 million or Sfr2.07 per share last year.

BHP Billiton Ltd. dipped 0.3% to A$33.16 after the miner reported full year revenues rose 0.7% to $72.23 billion. For the full year, profit plunged 34.8% to $15.42 billion from $23.65 billion last year.

Delhaize Group SA soared 5.6% to €34.99 after the Belgium-based food retailer reported second quarter revenue grew 11.5% to €5.70 billion from last year. Net profit group share plunged 26.1% to €87 million in the quarter.

Heineken N.V. slumped 3.6% to €42.89 after the Dutch brewer reported first-half revenue increased 5% to €8.778 billion from €8.358 billion. Profit surged 30% to €783 million or €1.36 per diluted share from €605 million or €1.02 per share last year.

Hochschild Mining Plc rose 0.6% to 438.50 pence after the precious metals company reported first-half net revenue fell 29% to $354.50 million compared to $496.77 million last year. Operating earnings excluding one-time charges plunged 65% to $52.75 million.

Vestas Wind Systems A/S fell 1.6% to DKK 33.39 after the Danish wind turbine maker reported second quarter revenues grew 15% to €1.61 billion. Loss before tax was €5 million compared to profit of €76 million in the previous year.

The wind turbines maker plans redundancies of about 1,100 salaried employees by September.