Europe Earnings: Accor, Essilor Intl, Pandora, Shell

Nigel Thomas
17 Jan, 2014
New York City

Accor said quarterly sales fell 3% to

[R]3:40 PM Frankfurt – Accor said quarterly sales fell 3% to €1.4 billion. Essilor forecasted revenue to grow €5.1 billion. Pandora fourth-quarter revenue surged 30% to 2.8 billion kronor. Shell expects net in the quarter to grow 2% to $6.7 billion.[/R]

In London trading, FTSE 100 index rose 0.1% or 8.07 to 6,823 and in Frankfurt the DAX index gained 0.2% or 22.46 to 9,740.

In Paris, CAC 40 index increased 0.2% or 9.83 to 4,329.10.

Accor SA gained 1.4% to €35.85 after the France-based hotel operator said sales in the fourth-quarter fell 3.1% to €1.40 billion or $1.91 billion from €1.45 billion and total sales for the year fell 2% to €5.54 billion a year ago.

The hotelier lifted its full-year profit target to upper-end of its estimates.

Essilor International SA dropped 2.2% to €79.45 after the France-based contact lense maker estimated consolidated revenue rose 1.5% to €5.06 billion and comparable sales for the year increased 5.4%.

Pandora A/S jumped 3.3% to 319 kroner after the Denmark-based costume jewelry maker said revenue for the year was 9.0 billion kroner or $1.6 billion. Preliminary revenue in the fourth-quarter surged 30% to 2.8 billion kronor.

Capital expenditure for the year was reduced by 100 million kronor to 300 million kronor from estimated of 400 million kronor.

Royal Dutch Shell Plc dropped 2.1% to 2,148.50 pence after the U.K.-based oil and gas producer expected net income for the fourth-quarter ending in December to grow 1.8% to $6.7 billion and for the year climbed 26.7% to $16.4 billion.

The company estimated adjusted quarterly earnings excluding one-time items of $2.9 billion, reflecting lower results in upstream and downstream operations.