Europe Movers: BMW, IAG, Allianz, Generali, Cr

Arthi Gupta
09 Nov, 2012
New York City

Allianz revenues rose 4.7% to

[R]1:30 PM Frankfurt – Allianz revenues rose 4.7% to €25.2 billion and Crédit Agricole slips to loss in the third quarter. Smartrac nine-month revenues increased 36% to €189 million. BMW October sales increased 13.2% to 157,618 units.[/R]

Allianz SE fell 1.1% to €93.06 after the German insurer reported third quarter revenues rose 4.7% to €25.2 billion. Operating profit rose 32.8% to €2.5 billion from €1.9 billion in the third quarter of 2011.

A.P. Moller-Maersk A/S gained 1.5% to DKK 38,500 after the Denmark-based conglomerate reported third quarter revenue fell to $14.63 billion from $15.33 billion in the prior-year period. Profit for the quarter soared to $933 million from $371 million a year ago.

Assicurazioni Generali SpA declined 1.2% to €12.25 after the insurer reported third quarter profit soared to €291.1 million from €19.5 million last year.

BMW AG advanced 0.9% to €64.23 after the automobile manufacturer said October sales increased 13.2% to 157,618 units compared to the sale of 139,284 units in the same month last year.

Crédit Agricole SA slumped 3.9% to €5.66 after the French lender reported third quarter revenues dropped 31.9% to €3.43 billion. Net loss in the quarter was €2.85 billion compared to a profit of €258 million in the same quarter a year earlier.

International Consolidated Airlines Group S.A. rose 0.8% to 169.20 pence after the airline company reported third quarter total revenue increased to €5.056 billion from €4.49 billion in the prior year. Profit for the period fell to €202 million from €267 million last year.

MediGene AG rose 2.2% to €1.12 after the biotechnology company reported nine-month total revenue surged 60% to €4.8 billion from the corresponding period last year. Net loss in the period widened to €7.4 billion from a net loss of €5.7 billion last year.

Novo Nordisk A/S soared 9.7% to DKK 948.50 after the drug maker announced that the FDA panel approved insulin products.

Rheinmetall AG plunged 6.5% to €32.55 after the automotive components and defense equipment maker said nine-month consolidated sales rose 5% to €3.28 billion. Consolidated earnings fell €11 million to €108 million, while earnings per share rose to €3.06 from €3.04 the prior year.

Smartrac NV declined 1.3% to €10.11 after the radio frequency identification inlays supplier reported nine-month revenues increased 36% to €189 million from €139 million in the same period a year earlier. Profit for the nine-month period climbed to €1.6 million from €1.4 million last year.