Europe Movers: Aggreko, Bunzl, Petrofac, Swiss Re, ING, Carrefour

Arthi Gupta
19 Oct, 2012
New York City

Petrofac reiterated its net profit growth target in 2012 of at least 15%. Bunzl third quarter group revenue rose 5%. Swiss Re announced management changes.

[R]3:00 PM Frankfurt – Petrofac reiterated its net profit growth target in 2012 of at least 15%. Bunzl third quarter group revenue rose 5%. Swiss Re announced management changes.[/R]

Aggreko plc plummeted 8.2% to 2,113 after the temporary power provider said third quarter revenues on a reported basis grew 22% and rose 13% on an underlying basis.

Bunzl Plc plunged 4.8% to 1,031 pence after the distribution and outsourcing group reported at constant exchange rates, third quarter group revenue rose 5%, and 6% year to date.

Carrefour SA soared 5.7% to €18.33 after the French retailer agreed to sell its operations in Colombia to Chilean retail group Cencosud for an enterprise value of €2 billion.

ING Groep NV dropped 2.4% to €6.96 after the financial institution agreed to sell its life insurance, general insurance, pension and financial planning units in Hong Kong and Macau, and its life insurance operation in Thailand to Pacific Century Group for a combined consideration of $2.14 billion or €1.64 billion in cash.

Lloyds Banking Group Plc, the financial services provider declined 2.5% to 40.83 pence after a broker downgrade.

Petrofac Limited dipped 0.7% to 1,620 pence after the oilfield services company said it remains on course to deliver net profit growth in 2012 of at least 15% on better operational performance in its Engineering, Construction, Operations & Maintenance and Integrated Energy Services projects in the year to date.

Swiss Re AG dropped 0.8% to Sfr66.20 and the reinsurer appointed Guido Fürer, currently Head Chief Investment Officer, as Group Chief Investment Officer and member of the Group Executive Committee, effective November 1.

The Rank Group Plc rose 0.7% to 153.50 pence after the gaming and betting services company reported 4% revenue growth for fifteen-week period to October 14 or 5% growth on a comparable basis, driven by strong trading in Mecca''s digital channel and Grosvenor Casinos.