Europe Earnings: Arkema, TGS-NOPEC, Wartsila, Morrison

Nigel Thomas
09 Jan, 2014
New York City

Arkema lowered its full-year earnings guidance. TGS-NOPEC Geophysical lifted revenue forecast for the quarter and fiscal 2013. Wartsila confirmed the preliminary proposal from Rolls-Royce. Morrison said total sales dropped by 2%.

[R]3:40 PM Frankfurt – Arkema lowered its full-year earnings guidance. TGS-NOPEC Geophysical lifted revenue forecast for the quarter and fiscal 2013. Wartsila confirmed the preliminary proposal from Rolls-Royce. Morrison said total sales dropped by 2%.[/R]

In London trading, FTSE 100 index edged up 0.03% or 2.16 to 6,724 and in Frankfurt the DAX index added 0.05% or 4.97 to 9,503.

In Paris, CAC 40 index fell 0.02% or 0.70 to 4,260.

Arkema SA declined 3.1% to €79.49 after the France-based chemical products maker lowered its full-year Ebitda earnings guidance to €900 million or $1.22 billion from the earlier outlook of €920 million.

TGS-NOPEC Geophysical Company surged 16.3% to 171 kronor after the Norway-based underwater oil and gas field surveyor lifted net revenues forecast for the fourth quarter to $270 million and for the year to approximately $882 million from earlier range of $810 million to $870 million.

Multi-client investments for the quarter are expected to increase by $90 million for the year to reached $437 million.

Wartsila Oyj Abp soared 11.2% to €37.82 after the Finland-based power plants operator confirmed that it was approached by Rolls-Royce with a preliminary takeover interest.

Wm. Morrison Supermarkets Plc plunged 8.5% to 232.68 pence after the retailer said total sales fell 1.9% excluding fuel or 3.3% including fuel. Comparable sales declined 5.6%.

The company anticipated net debt for the year to be in-line with the earlier guidance of £2.7 billion.