Europe Earnings: adidas, BrainJuicer, Daimler, Direct Line, LVMH

Nigel Thomas
20 Sep, 2013
New York City

adidas lowered its profit estimate for the year. BrainJuicer stock jumped after profit surged 81%. Daimler expects second-half sales to be ahead of comparable period a year ago. RBS sold its 20% stake in Direct Line Insurance for

[R]4:00 PM Frankfurt – adidas lowered its profit estimate for the year. BrainJuicer stock jumped after profit surged 81%. Daimler expects second-half sales to be ahead of comparable period a year ago. RBS sold its 20% stake in Direct Line Insurance for £630 million. LVMH agreed to buy majority stake in J.W. Anderson.[/R]

In London trading, FTSE 100 index fell 0.2% or 15.89 to 6,610 and in Frankfurt the DAX index slid 0.2% or 16.70 to 8,677.

In Paris, CAC 40 index gained 0.07% or 2.74 to 4,209.

adidas AG dropped 2.9% to €80.23 after the Germany-based sports footwear and apparel maker lowered its profit forecast for the year between €820 million and €850 million.

AstraZeneca Plc rose 0.6% to 3,259 pence after the UK based biopharmaceutical and Bristol Myers Squibb Co. recalled nearly 92,000 under-filled vials of its jointly marketed drug for diabetes.

BrainJuicer Group Plc surged 9.8% to 275 pence after the UK based online market research group said revenue in the first-half 4% to £10.76 million from £10.37 million in prior year.

Profit for the period surged 81.2% to £0.87 million compared to £0.48 million and diluted earnings per sharable re 6.7 pence from 3.7 pence per share a year earlier.

Daimler AG fell 0.2% to €58.33 after the Germany-based automaker expects sales growth in the second-half to be higher than in 2012.

The automobile company said sales in the first-half of 2013 to 225,200 units and revenues of €15 billion and EBIT to €550 million.

Direct Line Insurance Group plc declined 2.4% to 212.80 pence after the Royal Bank of Scotland Group Plc intends to sell 20% stake offer up to 300 million at 210 pence per shares to institutional investors and raised £630 million.

U.K. government currently holds 48.5% stake in Direct Line Insurance.

LVMH Moet Hennessy Louis Vuitton SA slid 0.3% to €148.85 after the France-based luxury goods maker agreed to buy a majority stake in British shoe designer Nicholas Kirkwood''s company J.W. Anderson for an undisclosed amount.