Europe Earnings: ASML, Credit Suisse, Danone, GEA, Syngenta

Nigel Thomas
16 Apr, 2014
New York City

ASML net surged 159% to

[R]4:00 PM Frankfurt – ASML net surged 159% to €249 million. Credit Suisse profit plunged 34% on 8% decline in revenues. Danone said sales in the quarter dropped 5% to €5 billion. GEA agreed to sell its heat-exchangers unit for €1.3 billion to Triton. Syngenta said quarterly sales rose 2%.[/R]

In London trading, FTSE 100 index gained 0.4% or 28.99 to 6,570.60 and in Frankfurt the DAX index climbed 1.05% or 96.61 to 9,270.32.

In Paris, CAC 40 index jumped 1% or 44.44 to 4,389.79.

ASML Holding NV declined 4.5% to €58.93 after the Netherlands-based semiconductor equipment maker said total net sales in the first-quarter ending in March soared 56.5% to €1.40 billion from €892.1 million a year ago period.

Net income in the quarter surged 159% to €249.1 million compared to €96.2 million and diluted earnings per share jumped to €0.56 from €0.23 a year earlier.

Credit Suisse Group AG dropped 2.3% to 27.20 francs after the Switzerland-based investment bank reported net revenue in the first-quarter declined 8% to 6.47 billion francs from 7.02 billion francs a year ago.

Net income in the quarter plunged 34% to 859 million francs compared to 1.30 billion francs and diluted earnings per share dropped to 0.47 francs from 0.75 francs a year earlier.

Danone SA fell 0.8% to €52.85 after the France-based milk products maker reported revenue in the first-quarter dropped 5.2% to €5.06 billion compared to €5.34 billion in the same period a year ago.

Danone forecasted organic sales for the year to increase between 4.5% and 5.5%.

GEA SA rose 0.4% to €89.85 after the Germany-based food-processing equipment maker agreed to sell its heat-exchangers unit for €1.3 billion or $1.8 billion including debt to private equity investor Triton.

Syngenta AG gained 1.7% to 342.10 francs after the Switzerland-based crop protection products maker reported group sales in the first-quarter rose 2% to $4.68 billion from $4.57 billion a year ago period.

The company said sales in the quarter from Europe, Africa and Middle East climbed 10% but declined 7% in North America. Sales in Latin America jumped 9% and in Asia Pacific soared 14%.