Europe Movers: Alcatel-Lucent, BMW, RBS, Beiersdorf, Wm Morrison

Arthi Gupta
02 Nov, 2012
New York City

Alcatel-Lucent and RBS swung to quarterly loss. BMW said U.S. sales rose 21% in October. Beiersdorf first nine months annual sales improved to

[R]1:30 PM Frankfurt – Alcatel-Lucent and RBS swung to quarterly loss. BMW said U.S. sales rose 21% in October. Beiersdorf first nine months annual sales improved to €4.57 billion.[/R]

Admiral Group PLC plummeted 5% to 1,089.84 pence after the car insurance firm stated third quarter group turnover decreased 2% to £570 million and UK car insurance revenues decreased 5% to £502 million.

Alcatel-Lucent, S.A. slumped 6.2% to €0.77 after the French telecom equipment maker reported third quarter revenues dropped 2.8% to €3.6 billion. Net loss in the quarter swung to €146 million compared to a profit of €194 million last year.

Bayerische Motoren Werke AG rose 1.5% to €64.27 after the automobile manufacturer reported a 21% surge in its U.S. sales in October.

Beiersdorf AG surged 4.6% to €59.35 after the cosmetic products manufacturer said first nine months sales improved to €4.57 billion from €4.28 billion in the previous year. Profit in the period climbed to €358 million from €336 million in the prior year.

Biotie Therapies Oyj climbed 2.5% to €0.41 after the Finland-based biopharmaceutical company reported third quarter revenue rose to €3.9 million. Net loss in the quarter narrowed to €2.4 million from the €16.2 million loss last year.

Golar LNG Limited surged 10% to $42.80 after the Norwegian shipper agreed to sell the companies that own and operate the LNG carrier Golar Grand, together with its time-charter, to Golar LNG Partners L.P. for $265 million.

William Morrison Supermarkets PLC, the food retailer dropped 1.2% to 264.30 pence after a broker downgrade.

The Royal Bank of Scotland Group plc fell 1.4% to 283.44 pence after the lender reported third quarter net loss of £1.38 billion compared with a £1.23 billion profit last year. Net interest income in the quarter dropped to £2.87 billion from £3.08 billion in the same quarter last year.

Group operating profit improved to £1.05 billion from £2 million in Q3 2011.