Europe Earnings: Barclays, Guardian News, L'Oreal, Smiths Group

Nigel Thomas
17 Jul, 2013
New York City

U.S. federal energy regulator fined Barclays for

[R]3:20 PM Frankfurt – U.S. federal energy regulator fined Barclays for £299.8 million. Guardian News annual revenue was flat at £206.8 million and net swung to profit. L''Oreal sales jumped 6.4% to €11.7 billion. Smiths Group expects operating profit for the year of £562 million.[/R]

In London trading, FTSE 100 index rose 0.4% or 29.09 to 6,585 and in Frankfurt the DAX index jumped 0.5% or 53.97 to 8,255.

In Paris, CAC 40 index gained 0.6% or 23.69 to 3,875.

Barclays Plc gained 1.2% to 311.85 pence after the UK bank and four of its traders find from the U.S. federal energy regulator to pay £299.8 million or $453 million for manipulating electricity prices in California and other western markets between 2006 and 2008.

The Guardian News & Media Limited after the UK based media company reported revenue from continuing businesses in the year ending in March was flat at £206.8 million from a year ago. Pre-tax profit swung to £22.7 million compared to loss of £19.8 million.

Guardian News & Media revenue £196.3 million from £194.4 million and its digital revenue surged 28.9% to £55.9 million.

The first newspaper was launched on May 5, 1821 and today the media has more than 40 million readers.

L''Oreal SA slid 0.7% to €127.75 after the France based cosmetic group said sales in the first-half ending in June jumped 6.4% to €11.7 billion and like-for-like sales climbed 5.4%. Group total sales soared 5.02% to €5.81 billion.

Smiths Group Plc slipped 1.2% to 1,374 pence after the UK based security equipment maker lowered its operating profit for the year to £562 million as contracts at one of its unit that contributes 17% of group revenue is expected report losses.