Europe Earnings: Electrawinds, Evraz, International Personal Finance, Vestas

Nigel Thomas
27 Dec, 2013
New York City

Electrawinds won a court approval to negotiate with creditors for its subsidiary. Evraz sold its iron ore assets in Russia. International Personal Finance fined by Polish Office of Consumer Protection. Vestas Wind won fourth contract in a week.

[R]3:40 PM Frankfurt – Electrawinds won a court approval to negotiate with creditors for its subsidiary. Evraz sold its iron ore assets in Russia. International Personal Finance fined by Polish Office of Consumer Protection. Vestas Wind won fourth contract in a week.[/R]

In London trading, FTSE 100 index jumped 0.8% or 53.28 to 6,747 and in Frankfurt the DAX index climbed 0.8% or 77.36 to 9,566.

In Paris, CAC 40 index advance 1.1% or 47.33 to 4,266.

Electrawinds SE surged 7.7% to €0.914 after the Luxembourg-based clean energy developer said the Commercial Court in the Netherlands granted protection for its unit against creditors for a period of three months up to March 27.

Evraz Plc climbed 5.9% to 106.90 pence after the U.K.-based steel, mining and vanadium producer sold its iron ore assets to LLC Ruda Khakasii for 10 million rubles or about $306,000. Ruda will purchase some of Evraz''s assets in Russia.

Additionally, the company signed a 10-year contract to supply 150,000 tons of iron ore concentrate per month to EVRAZ ZSMK steel plant.

International Personal Finance Plc tumbled 16% to 453.70 pence after the U.K.-based consumer lender was fined £2.4 million or $3.9 million by the Polish regulator after for infringing consumers’ interests.

Vestas Wind Systems A/S gained 2% to 160.10 kronor after the Denmark-based wind power producer secured order for 55 wind turbines from an undisclosed customer in the United States.

In a week, the company won four orders from power companies in Texas, New Mexico, Oklahoma and the Canadian provinces of Alberta and Nova Scotia.

Orders total about 1,700 megawatts, the second-best year in the company’s history.