Europe Earnings: Airbus, Centrica, ICAP, Nordea Bank, Thyssenkrupp

Nigel Thomas
25 Sep, 2013
New York City

Airbus secured two orders worth $4.2 billion from a startup airline in China. Centrica will write-off nearly

[R]4:00 PM Frankfurt – Airbus secured two orders worth $4.2 billion from a startup airline in China. Centrica will write-off nearly £240 million and halted its gas storage project. ICAP is in talks with US and UK regulators to settle the Libor rate probe. Swedish government sold its remaining stake of 7% in Nordea Bank sold its remaining stake of 7% for $3.4 billion.[/R]

In London trading, FTSE 100 index slipped 0.5% or 29.29 to 6,542 and in Frankfurt the DAX index slid 0.2% or 17.61 to 8,647.

In Paris, CAC 40 index fell 0.3% or 14.35 to 4,181.

Airbus S.A.S., the France-based commercial jet maker secured order of $4.2 billion based on list price from China-based BOC Aviations the subsidiary of Bank of China Ltd for 25 A320 aircrafts. A second order from Qingdao Airlines, a newly established airline of Eastern Chinese coastal city of Shandong Province, placed an order for 23 A320 Family aircraft.

Centrica Plc declined 4.9% to 377.40 pence after the energy company said it plans to write-off in its full-year results the costs that incurred on the storage projects and expects to recognize impairments and provisions for nearly £240 million.

The gas company decided not to proceed with its new-build gas storage project at Baird in the southern North Sea UK and to put the project at Caythorpe in East Yorkshire on hold indefinitely.

ICAP Plc slid 0.8% to 392.40 pence after the UK based broker agreed to pay £55 million to US and UK regulators to settle the allegations that its employees had helped to manipulate inter-bank rates.

In a separate press release, ICAP added U.S. Treasury futures volumes on BrokerTec platform reached all-time high to $215 billion per day in June as the debate on quantitative easing tapering debate raged.

Nordea Bank AB slumped 2.9% to 76.90 kronor after the Swedish government said it had sold its remaining stake of 284 million shares represents 7% for 76 kronor per share worth 21.6 billion kronor or $3.4 billion.

Thyssenkrupp AG climbed 4.5% to €18.28 after the European investor Cevian Capital AB agreed to acquire 5.2% stake in German steelmaker. As the company intend to lower operating costs by €2 billion in the years including fiscal 2015.