Europe Movers: Ingenico, Rentokil, Safran, Vivendi, Volkswagen

Nigel Thomas
15 Mar, 2013
New York City

Bwin.party said total loss for the year narrowed to

[R]2:50 PM Frankfurt – Bwin.party said total loss for the year narrowed to €64.7 million. Rentokil reported net for the year swung to £53.7 million rofit. Safran divested its 12.57% stake in Ingenico SA. Volkswagen net income for the year surged 87% to €21.72 billion.[/R]

In London trading, FTSE 100 index fell 0.7% or 43.3 to 6,486 and in Frankfurt, the DAX index slid 0.3% to 23.6 to 8,035. In Paris, CAC 40 index slipped 0.9% or 34.4 to 3,837.

Bwin.party digital entertainment plc declined 6.1% to 142.20 pence after the Gibraltar based online gaming company reported total revenue for the year ending December climbed 16% to €801.6 million from a year ago. Total loss for the year narrowed to €64.7 million compared to €431 million of last year. Diluted loss per share slipped to €7.8 from €58.2 a year ago earlier.

The company estimates revenue for the 2013 slightly lower than current market estimates.

Rentokil Initial plc soared 10.6% to 100.11 pence after the UK based business services provider said revenue for the year ending in December were nearly flat at £2.55 billion. Profit for the year swung to £53.7 million compared loss of £67.1 million to last year. Diluted earnings per share were 2.82 pence from loss of 3.84 pence a year ago earlier.

The company said operating profit for the year swung to £145.8 million compared to loss of £10.2 million for a year ago period.

Safran SA fell 0.2% to €35.43 after the France based technology company said its subsidiary Morpho divested part of its stake in payment solutions provider Ingenico SA by private placement, representing 12.57% stake valued €286.8 million or €43.45 per share.

Ingenico SA slipped 3.5% to €44.35

Vivendi SA dropped 3.9% to €16 after the France based telecommunications service provider planned sale of Brazil based phone and internet unit valued at €5.2 billion.

Volkswagen AG slid 2.3% to €152.25 after the Germany based automobile company reported group total revenue for the year ending December soared 21% to €192.68 billion from a year ago. Net income for the year surged 87% to €21.72 billion compared to €15.41 billion of last year. Diluted earnings per share dropped to €46.42 from €33.10 a year ago.

The company said gross profit of the group climbed to €35.16 billion and operating profit increased to €11.51 billion.