Europe Earnings: Dialog Semiconductor, Erste Group, Ocado, Rosneft

Nigel Thomas
02 Jul, 2013
New York City

Dialog Semiconductor agreed to buy IWatt for $345 million. Erste Group Bank sold

[R]3:40 PM Frankfurt – Dialog Semiconductor agreed to buy IWatt for $345 million. Erste Group Bank sold €661 million of new shares to repay the debt. Ocado reported gross sales in the first-half climbed 15% to £382.7 million. Rosneft agreed to acquire remaining 49% in Itera for $2.9 billion.[/R]

In London trading, FTSE 100 index edged lowered 0.1% or 8.56 to 6,299 and in Frankfurt the DAX index fell 0.8% or 67.80 to 7,916.

In Paris, CAC 40 index slid 0.6% or 23.99 to 3,743.

Dialog Semiconductor Plc surged 9.7% to €10.73 after the Germany based integrated circuit maker agreed to buy IWatt Inc. for a cash payment of $345 million.

Erste Group Bank AG dropped 2.1% to €19.98 after the Austria based lender bank sold €661 million of new shares to repay the state aide and trim holding of key shareholders.

Ocado Group Plc dropped 2.1% to 305.60 pence after the UK based online grocer said gross sales in the first-half to June climbed 15.2% to £382.7 million from £332.3 million a year ago period. Loss before tax swung to a £3.8 million compared to profit of £0.2 million a year earlier.

Operating loss swung to a £1.1 million from profit of £1.7 million.

The grocery retailer said it is in talks for tie-ups with other retailers after the deal with Morrisons worth £170 million and refused about receiving of takeover proposal for its own business.

NK Rosneft’ OAO fell 0.8% to 227.40 ruble after the Russia based oil giant agreed to acquire remaining 49% in Itera a gas company from businessman Igor Makarov for $2.9 billion.

Persimmon Plc slipped 2.3% to 1,212 pence after the UK based home builder reported sales in the first-half ending in June jumped 19% to £920 million from £774 million a year ago and plan to open further 85 new sites in the second-half of the year and also invest £240 million.

The company now expects underlying operating margin in the first half of this year to increased 15%, representing growth of 280 basis points from the first-half of last year.