Europe Earnings: ARM Holdings, Prada, Siemens, Swatch, Serco

Nigel Thomas
23 Dec, 2013
New York City

ARM Holdings rose after China Mobile announced its plan to sell Apple iPhone from next month. Prada said revenue climbed 10% to

[R]3:40 PM Frankfurt – ARM Holdings rose after China Mobile announced its plan to sell Apple iPhone from next month. Prada said revenue climbed 10% to €2.6 billion. Siemens won orders for wind turbines and locomotives. Swatch won arbitration award of $449 million against Tiffany.[/R]

In London trading, FTSE 100 index jumped 0.7% or 48.98 to 6,656 and in Frankfurt the DAX index increased 0.7% or 65.15 to 9,465.

In Paris, CAC 40 index rose 0.1% or 6.04 to 4,200.

ARM Holdings plc gained 2.1% to 1,091 pence after the U.K.-based microprocessor maker after China Mobile begins selling popular Apple iPhone from January 17. ARM makes chipsets for the popular gadget made by Apple.

Prada SpA, the Italy-based fashion house reported consolidated net revenues in the nine-month ending in October climbed 10.1% to €2.58 billion from €2.34 billion a year ago.Net income jumped 7.9% to €440.9 million from a year earlier.

The luxury goods maker forecasted its European sales may decline from a year ago.

Siemens AG increased 1.1% to €98.97 after the Germany-based engineering conglomerate agreed to supply 448 wind turbines to the Cape Wind project in the U.S.

In addition, the industrial company said it received order from the Finland-based VR Group Ltd. the railways transport and logistics service provider for 80 electric Vectron locomotives valued at least €300 million or $410 million.

The Swatch Group Ltd rose 0.2% to 582.50 francs after the U.S. arbitration panel awarded Tiffany & Co to pay 402.7 million francs or $449.5 million plus interest from June 30, 2012 to the Swiss watch maker.

Serco Group plc jumped 2.4% to 483.40 pence after the U.K.-based security services provider secured a six-month extension to its contract with the Australian Department of Immigration and Border Protection to provide detention services.