Europe Movers: Nokia, Saab, Remy Cointreau, Nestle, Tele2

Arthi Gupta
18 Oct, 2012
New York City

Nokia loss widens, Akzo Nobel swung to loss and Saab net plunged to SEK 151 million in the third quarter. Nestle nine-month sales rose 11% to Sfr67.6 billion. Remy Cointreau first-half sales were

[R]1:30 PM Frankfurt – Nokia loss widens, Akzo Nobel swung to loss and Saab net plunged to SEK 151 million in the third quarter. Nestle nine-month sales rose 11% to Sfr67.6 billion. Remy Cointreau first-half sales were €595.8 million.[/R]

Actelion Pharmaceuticals Ltd. rose 1.1% to Sfr47.05 after the Swiss biotech firm stated net income for the first nine months swung to Sfr268.3 million compared to a loss of Sfr180.7 million last year.

Akzo Nobel N.V. p lunged 5.1% to €42.29 after the paints manufacturer said third quarter revenues rose 6% to €4.28 billion from the same quarter a year earlier. Net loss in the quarter was €2.37 billion compared to a net profit of €167 million reported a year ago.

BB Biotech AG dipped 0.6% to €77.55 after the investment company reported third quarter profit of Sfr148.6 million and net asset value rose 12.2% in Swiss francs and 13.2% in U.S. dollars.

Dassault Aviation SA dipped 0.4% to €703.95 after the aircraft manufacturer reported nine month consolidated net sales rose 22% to €2.52 billion compared to the 2011 first nine months.

Nestle SA fell 2.2% to Sfr60.90 after the food company reported sales for the nine-month period rose 11% to Sfr67.6 billion, from a year ago.

Nokia Oyj soared 8.5% to €2.39 after the Finnish mobile phone maker reported third quarter net sales fell 19% to €7.24 billion, from the same period a year ago. Net loss in the quarter widened to €969 million compared to a loss of €68 million last year.

On a per share basis, reported loss was 26 cents compared to a loss of 2 cents in the same quarter last year.

Remy Cointreau slumped 6.1% to €81.96 after the alcohol manufacturer reported sales for the first six months were €595.8 million, an increase of 25.5%. Organic growth was 13.3%.

Royal Dutch Shell Plc declined 0.9% to 2,159 pence and the oil and gas explorer celebrated the cutting of first steel for the Prelude floating liquefied natural gas facility''s substructure at Samsung Heavy Industries'' Geoje shipyard in South Korea.

Saab AB slid 1.7% to SEK 130.10 after the Swedish aerospace and defense company said third quarter sales rose to SEK 4.9 billion from SEK 4.84 billion in the comparable quarter a year earlier. Net income plunged to SEK 151 million or SEK 1.37 per share from SEK 1.1 billion or SEK 10.15 per share in the prior year.

Tele2 AB declined 1.7% to SEK 116.50 after the telecommunications operator said third quarter net sales grew to SEK 10.91 billion from SEK 10.43 billion in the prior year. Profit for the quarter fell to SEK 980 million from SEK 1.26 billion in the year-ago quarter.