Europe Earnings: HSBC Net Jumps, Ryanair Cuts Outlook

Nigel Thomas
04 Nov, 2013
New York City

Alcatel Lucent net loss narrowed as sales rose. AMEC agreed to acquire US-based Automated Engineering for $28 million. Ryanair profit rose 1% to

[R]4:25 PM Frankfurt – Alcatel Lucent net loss narrowed as sales rose. AMEC agreed to acquire US-based Automated Engineering for $28 million. Ryanair profit rose 1% to €602 million and lowered full-year outlook. HSBC profit jumped 28%. Ryanair and Weir lowered fiscal year outlook.[/R]

In London trading, FTSE 100 index jumped 0.6% or 42.39 to 6,777 and in Frankfurt the DAX index gained 0.4% or 40.76 to 9,049.

In Paris, CAC 40 index increased 0.5% or 22.64 to 4,296.

Alcatel Lucent SA dropped 2.7% to €2.89 after the France-based networking equipment maker said revenue in the third-quarter ending in September rose 2% to €3.67 billion from €3.60 billion a year earlier.

Net loss in the quarter narrowed to €200 million compared to €316 million and diluted loss per share dropped to €0.09 from €0.14 a year ago period.

AMEC Plc rose 0.4% to 1,178 pence after the U.K.-based engineering consultant agreed to acquire US-based Automated Engineering Services for $28 million.

HSBC Holdings Plc jumped 2.8% to 706.70 pence after the U.K.-based financial service provider reported revenue in the third-quarter ending in September rose 3.5% to $15.08 billion from $14.57 billion a year ago.

Net profit for the quarter jumped 28% to $3.20 billion compared to $2.50 billion and diluted earnings per share climbed to 16 cents from 13 cents a year earlier.

HSBC added underlying revenue for the quarter nearly flat at $15.6 billion from the same quarter a year earlier.

Ryanair Holdings Plc plunged 12.1% to €5.36 after the Ireland -based low-cost airline company said revenue in the third-quarter ending in September jumped 5% to €3.26 billion from €3.11 billion a year ago period.

Net profit in the quarter rose 1% to €602 million compared to €596 million and diluted earnings per share grew to 41.85 cents from 41.20 cents a year ago period.

The Weir Group Plc declined 5.3% to 2,138 pence after the U.K.-based industrial pump maker said profit before tax in the third-quarter may drop as much as £413 million and expected profit for the year to be in the range of £425 million to £435 million.

The company added orders in the oil and gas division during the third quarter climbed 33% compared to last year.