Europe Movers: Ericsson, Statoil, Publicis, African Barrick Gold, Technicolor

Arthi Gupta
26 Oct, 2012
New York City

Ericsson earnings slumped 42% but Statoil net surged 47% in the third quarter. Technicolor quarterly revenue rose 10.9% to

[R]1:00 PM Frankfurt – Ericsson earnings slumped 42% but Statoil net surged 47% in the third quarter. Technicolor quarterly revenue rose 10.9% to €928 million. Anglo American chief executive steps down. Vinci estimates annual net income to decline between 3% and 4%.[/R]

African Barrick Gold Plc plunged 3% to 467.30 pence after the Tanzania focused gold producer said third quarter revenues fell to $265 million from $354 million in the comparable quarter a year earlier. Net profit plummeted 72% to $29 million, from $102 million last year. Basic earnings per share plunged to 7.1 cents from 24.9 cents in the previous year.

Anglo American plc gained 1.6% to 1,886.50 pence and the miner announced that Cynthia Carroll has decided to step down as chief executive.

Compagnie de Saint-Gobain SA surged 2.8% to €27.52 after the building materials company said third quarter sales increased 1.8% to €10.95 billion from the year-ago quarter.

Koninklijke Ten Cate NV dipped 0.03% to €17.31 after the multinational company reported third quarter revenues declined to €276.8 million, from €290 million the prior year. Net profit in the quarter plunged to €8.2 million, from €17.3 million last year.

PPR SA advanced 2.2% to €133.75 after the luxury group said third quarter revenue rose 6.6% to €2.6 billion, from the same 2011 period on a comparable basis.

Publicis Groupe S.A. declined 3.1% to €39.62 after the communications provider reported revenue rose 14.7% to €1.63 billion, from a year ago.

Statoil ASA declined 1.7% to NOK 140.20 after the Norwegian energy company reported third quarter revenues declined 1% to NOK 165.3 billion. Net income surged 47% to NOK 14.5 billion, from NOK 9.9 billion in the same period in 2011.

Technicolor S.A. soared 6.9% to €1.95 after the media and entertainment company reported third quarter revenue rose 10.9% to €928 million from the year-ago quarter.

Telefonaktiebolaget LM Ericsson slumped 4.5% to SEK 57.80 after the Swedish communications technology provider reported third quarter net sales slid 2% to SEK 54.6 billion from the prior year. Net income slumped 42% to SEK 2.2 billion or 67 cents per share from SEK 3.8 billion or SEK 1.18 per share in the prior year.

Vinci SA slid 0.6% to €33.63 after the builder reported third quarter revenue grew 7.3% to €10.3 billion from last year.

The company estimates annual net income to decline by 3% to 4%, hurt by the new tax law being considered in France.