Europe Movers: Novozymes, Pearson, Richemont, Sky Deutschland

Barry Randall
21 Jan, 2013
New York City

Banks in Madrid were in focus after the Bank of Spain reported weak loan conditions and 17% monthly payments in loans were in arrears. Novozymes reported rising sales and earnings. Richemont said sales in Asia Pacific ground to a halt. Sky Deutschland plans to sell 20.4 million shares.

Banks in Madrid were in focus after the Bank of Spain said last week that default rates on loans surged to 17% in the third quarter and soared to 30% for all real estate loans.

Lending to consumers and businesses declined 0.3% in the November from October, according to the central bank.

BancoPopular Espanol SA and CaixaBank gained 0.8%.

Danish industrial enzymes maker Novozymes soared 6.5% to DKK171.10 in Copenhagen trading.

Sales in 2012 increased 7% from a year ago to DKK 11.234 billion and net profit increased declined to 10% to DKK2 billion after rising at 13% in 2011.

Laundry detergent and other household cleaning products enzymes sales increased to DKK3.78 billion and totaled 34% of all sales.

Diluted earnings per share increased to DKK6.33 from DKK5.71 in 2011.

Pearson Plc declined 2.3% to 1,209 pence after the book publisher lowered its estimate of 2012 net earnings to 84 pence from the previous estimate of 84.9 pence and blamed on lower incomes in the professional education segments and its Financial Times Group businesses.

PostNL NV increased 5.7% to 1.88 euros after a hedge fund demanded the company to detail its plan to restore its stock price and dividend after UPS withdrew its offer for TNT Express NV.

Credit Suisse lifted its view on parent of British Air. International Consolidated Airlines Group increased 1.7% to 211 pence. Air France-KLM Group gained 4% to 8.40 euros after the broker lifted its outlook.

The Swiss luxury group Richemont dropped 5.5% to Sfr74.70 after the company said sales growth has declined to flat in Asia Pacific and said third quarter revenues rose 9.3% to 2.86 billion euros.

Other luxury group stocks declined on the Richemont sales report. LVMH Moet Hennessy Louis Vuitton SA decreased 1.4% and Burberry Group Plc decreased 1.3%.

Sky Deutschland AG dropped 4.8% to 4.52 euros after the Germany based pay TV operator estimated annual loss that was larger than expected by analysts. The company also said it will place 20.4 million shares at 4.46 euro each in a new offering.