Burberry Soars on Earnings, H & M December Sales Rise

Nigel Thomas
15 Jan, 2014
New York City

Burberry said retail revenue surged 14% to

[R]3:40 PM Frankfurt – Burberry said retail revenue surged 14% to £528 million. Ferrexpo dropped after two key investors reduced the stake. H & M Hennes & Mauritz December sales jumped 10%. Tullow expects gross profit to rise.[/R]

In London trading, FTSE 100 index jumped 0.7% or 46.52 to 6,813 and in Frankfurt the DAX index climbed 1.5% or 145.14 to 9,686.

In Paris, CAC 40 index jumped 0.8% or 34.34 to 4,309.

Burberry Group Plc soared 5% to 1,543 pence after the U.K.-based luxury-goods designer said retail revenue for the third-quarter ending in December surged 14% to £528 million and comparable sales for the quarter climbed 12%.

Ferrexpo Plc declined 3.8% to 170 pence after the U.K.-based iron ore pellets producer said chief executive Kostyantin Zhevago, the major shareholder in the Ukraine-focused miner and private investment company BXR Group would trim stakes.

H & M Hennes & Mauritz AB jumped 2.1% to 290.10 kronor after the Sweden-based clothing retailer said total sales in December jumped 10% and adjusted for calendar sales climbed 12%.

Hargreaves Lansdown Plc declined 4.1% to 1,446.71 pence after the U.K.-based brokerage company will collect about £3.5 billion of new assets over the next three year to offset the impact of pricing changes.

Smiths News Plc gained 0.9% to 229 pence after the U.K.-based newspaper publisher said total group revenues fell 0.4% and Smiths News total revenues declined 2% and comparable sale dropped 2.8%.

Bertrams total revenues climbed 9.7% but fell 0.4% on a comparable basis. Consortium total revenues jumped 4.2% and media segment revenues increased 2%.

Tullow Oil Plc rose 0.5% to 861 pence after the U.K.-based oil and gas explorer estimated full-year revenue at $2.60 billion up from $2.34 billion and gross profit of $1.40 billion compared to $1.35 billion a year ago.

The company expects production of oil in northern Kenya to increase to 84,200 barrels of oil equivalent per day compared to from 79,200 a year earlier.