Europe Movers: Asos, Deutsche Bank, Metro, Rheinmetall, Smiths Group

Nigel Thomas
20 Mar, 2013
New York City

Asos said second quarter sales soared 37% to

[R]2:50 PM Frankfurt – Asos said second quarter sales soared 37% to £186.5 million. Deutsche Bank net for the year plunged 93% and for the fourth quarter net swung to €2.53 billion loss. Metro third quarter net plunged 29% to €498 million. Smiths Group net surged 67% to £141.3 million.[/R]

In London trading, FTSE 100 index inched up 0.1% or 3.8 to 6,445 and in Frankfurt the DAX index gained 0.7% to 55.3 to 8,003.

In Paris, CAC 40 index increased 1.2% or 44.8 to 3,821.

Asos Plc climbed 6.6% to 3,317 pence after the UK based online retailer reported sales in the second quarter ended on February 28 soared 37% to £186.5 million from a year ago period.

Total group revenue rose 37% to £190.3 million from a year ago.

The retailer added second quarter international sales grew 59% and active customers increased 40% from a year ago to 6 million active customers at the end of February.

Deutsche Bank AG gained 2.2% to €32.71 after the Germany based investment bank reported net interest income for the year ending in December dropped 8.9% to €15.89 billion from a year ago.

Net income for the year plunged 93.3% to €291 million compared to €4.33 billion from a year ago. Diluted earnings per share dropped to €0.25 from €4.30 a year ago.

The bank stated net interest income for the fourth quarter dropped 9% to €4.09 billion from a year ago. Net loss for the quarter swung to €2.53 billion compared to net income €186 million from a year ago. Diluted earnings per share loss in the quarter were €2.71 from €0.15 a year ago.

The bank kept provisions of €2.4 billion concerning US mortgage related litigation and unrelated regulatory investigations.

The bank added common equity Tier 1 capital ratio at the end of December dropped to 11.4% from 11.6% a year ago.

Metro AG fell 2.5% to €37.87 after the Germany based international retailer reported revenue for the third quarter ending in December declined 18% to €783 million from a year ago. Net income for the year plunged 28.7% to €498 million compared to €698 million from a year ago. Earnings per share fell 10% to 1.89 cents from 2.63 cents a year ago.

Rheinmetall AG declined 7.5% to €37.87 after the Germany based holding company reported net sales for the year ending in December slipped 5.6% to €4.70 billion from a year ago. Net income for the year declined 15.6% to €190 million compared to €225 million from a year ago. Earnings per share fell 10% to €5 from €5.55 a year ago.

The company anticipated consolidated sales for the year between €4.8 billion and €4.9 billion.

Smiths Group Plc rose 0.2% to 1,321.44 pence after the UK based security equipments provider reported six-month revenue for the year ending in January grew 4% to £1.48 billion from a year ago earlier.

Profit for the year surged 66.8% to £141.3 million compared to £84.7 million from a year ago. Diluted earnings per share jumped 67% to 35.4 pence from 21.2 pence a year ago.

The company added gross profit for the period jumped 5.1% to £675.8 million and operating profit climbed 63.4% to £215 million from a year ago.

The company said revenue for the six month period rose 3% in John Crane division and Smiths Medical revenue added 2%. Revenue soared 19% in Smiths Detection division and Smiths Interconnect revenue increased 4%.