Europe Earnings: Alstom, AstraZeneca, Heineken, Novartis, Technip

Nigel Thomas
24 Apr, 2014
New York City

Alstom surged on speculation that GE may make a $13 billion takeover offer. AstraZeneca net declined 11% to $1.5 billion. Heineken profit tumbled 37% to

[R]4:00 PM Frankfurt – Alstom surged on speculation that GE may make a $13 billion takeover offer. AstraZeneca net declined 11% to $1.5 billion. Heineken profit tumbled 37% to €143 million but sales rose 3%. Novartis net climbed 24% to $2.9 billion. Technip net plunged 42% to €67 million.[/R]

In London trading, FTSE 100 index jumped 0.7% or 47.91 to 6,722.65 and in Frankfurt the DAX index gained 0.3% or 33.44 to 9,577.63.

In Paris, CAC 40 index climbed 0.9% or 38.31 to 4,489.39.

Alstom SA surged 14.4% to €27.86 after the France-based transport and energy infrastructure developer denied media reported that the U.S.-based General Electric Co is in talks to buy the company for more than $13 billion.

The company said in a press release on its web site that Alstom is not informed of any potential public tender offer for the shares of the company and it constantly reviews the strategic options of its businesses.

AstraZeneca Plc jumped 4.3% to 4,217.50 pence after the U.K.-based biopharmaceutical company said group revenue in the first-quarter ending in March increased 3% to $6.42 billion from $6.38 billion a year ago.

Net profit in the quarter declined 11% to $1.47 billion compared to $1.75 billion and earnings per share dropped 11% to $1.17 from $1.41 a year earlier.

Heineken NV fell 0.9% to €50.68 after the Netherlands-based beer maker said group revenue in the first-quarter ending in March jumped 3.4% to €4.49 billion from €4.63 billion a year ago.

Net profit in the quarter tumbled 37% to €143 million compared to €227 million a year ago period.

Novartis AG slipped 1.2% to 75.30 francs after the Switzerland-based healthcare products maker reported net sales in the first-quarter ending in March rose 1% to $14.02 billion from $14.01 billion a year ago.

Net income in the quarter climbed 24% to $2.94 billion compared to $2.40 billion and diluted earnings per share jumped to $1.19 form 97 cents a year earlier.

Technip climbed 7.2% to €82.06 after the France-based oilfield-services provider said revenue in the first-quarter ending in March soared 23.3% to €2.47 billion from €2 billion a year ago.

Net income in the quarter plunged 42.2% to €67.2 million compared to €116.2 million and diluted earnings per share dropped 40.9% to €0.57 from €0.97 a year ago earlier.

Separately, the company agreed to sell majority of its stake at least up to 75% in India-based Seamec Limited to HAL Offshore Limited of India at a consideration of Rs 97 a share valued approximately €29 million.