Europe Earnings: Aggreko, Balfour Beatty, G4S, BAE Systems, Vivendi

Nigel Thomas
28 Oct, 2013
New York City

Aggreko jumped after third-quarter outlook. Balfour Beatty secured defense contracts worth

[R]4:25 PM Frankfurt – Aggreko jumped after third-quarter outlook. Balfour Beatty secured defense contracts worth £73 million. G4S rejected offer of £1.6 billion for cash business. BAE Systems signed agreement with Japan Airlines. Mediobanca net surged 57%. TNT Express profit plunged 33%.[/R]

Market indexes in Europe closed mixed and business operations in London were disrupted after a heavy storm.

In London trading, FTSE 100 index fell 0.2% or 13.12 to 6,708 and in Frankfurt the DAX index slid 0.3% or 31.70 to 8,954.

In Paris, CAC 40 index slipped 0.8% or 33.69 to 4,239.

Aggreko Plc climbed 5.5% to 1,600 pence after the U.K.-based power services provider said underlying group revenues in the third-quarter ending in September slightly ahead from a year ago.

Aggreko said net debt in the quarter ending in September dropped £83 million and stood at £469 million but expect that group profit-before-tax will be in line with market expectations.

Balfour Beatty Plc gained 0.2% to 285.70 pence after the U.K.-based construction company secured two UK coastal defense contracts worth £73 million for Blackpool Council and Wyre Council and will be will be completed in the summer of 2017.

BAE Systems Plc fell 0.8% to 447.80 pence after the defense aerospace and security contractor signed a three-year agreement with Japan Airlines to provide maintenance support for the commercial aircraft fleet.

G4S Plc rose 0.2% to 259 pence after the U.K.-based security service provider rejected a £1.55 billion offer for its cash transportation business from British private equity group Charterhouse Capital Partners and said the bid undervalued the unit.

Mediobanca Group jumped 2.9% to €6.51 after the Italy-based bank reported net interest income in the first-quarter ending n September increased 4.4% to €270.5 million from €259 million a year ago.

Net profit in the quarter surged 57.1% to €171.2 million compared to €109 million a year earlier.

The bank added stake of reduced from 11.6% to 7.3% in Telco SpA and gains €59 million and sale other equity investments worth €139 million.

Customer loans were stable at €33 billion and new business grew €1.1billion. Corporate loan increased up to €1.3 billion and disbursed in retail & consumer jumped 12%.

TNT Express NV soared 4.6% to €7.11 after the Netherlands-based courier services provider reported revenue in the third-quarter ending in September dropped 6.6% to €1.62 billion and net profit plunged 33.3% to €6 million compared to €8 million in the same period a year earlier.

Vivendi SA slid 0.8% to €18.62 after the France-based pay-television operator agrees to acquire 20% stake in pay-television operator Canal+ France for €1 billion.

Today, the conglomerate started to purchase all of its outstanding $1,350 million notes note will be due in 2018 and $800 million 4.750% notes matured will in 2022 and redeem of its $550 million 2.40% notes due which will be due in 2015.