Europe Earnings: Airbus, Bwin.party, Michael Page, SSAB, Volkswagen

Nigel Thomas
15 Jul, 2014
New York City

Airbus signed major orders for A320 Family aircraft at the Farnborough International Airshow 2014. Bwin.party Digital revenue climbed 44% to

[R]4:00 PM Frankfurt – Airbus signed major orders for A320 Family aircraft at the Farnborough International Airshow 2014. Bwin.party Digital revenue climbed 44% to €105 million. Michael Page gross profit rose 2% to £137 million. Volkswagen plans to cut costs for about €5 billion from 2017.[/R]

In London trading, FTSE 100 index slipped 0.3% or 20.41 to 6,725.73 and in Frankfurt the DAX index fell 0.4% or 36.06 to 9,746.95.

In Paris, CAC 40 index dropped 0.7% or 29.83 to 4,320.21.

Airbus Group NV slid 0.5% to €46.85 after the Netherlands-based aerospace and defense group signed an agreement with Malaysia-based AirAsia for 50 A330neo jets for $12 billion at list prices.

Separately, the company signed deal with leasing company Avolon for 15 of the same A330neo jets.

In separate news, the company reported BOC Aviation the Singapore-based aircraft leasing, subsidiary of Bank of China ordered for an additional 43 A320 Family aircraft.

SMBC Aviation Capital signed a major firm order for 115 A320 Family aircraft at the Farnborough International Airshow 2014.

Bwin.party Digital Entertainment Plc fell 0.5% to 85.80 pence after the U.K.-based online gaming company said total revenue in the first-half climbed 44.2% to €105.1 million compared to €72.9 million and net gaming revenue in the quarter of €54.8 million or €602,000 per day from a year ago period.

Michael Page International Plc jumped 2.4% to 438.20 pence after the U.K.-based recruitment consultancy reported gross profit for the second-quarter rose 1.5% to £137.2 million from £135.1 million a year ago.

SSAB AB rose 0.3% to 65.05 kronor after the Sweden-based steel producer received the European Commission''s approval to bid for Finland-based rival Rautaruukki Corporation to sell five businesses in Finland, Sweden and Norway worth $1.6 billion.

Volkswagen AG rose 0.5% to €186.65 after the Germany-based automobile company plans to cut costs at its core namesake brand for about €5 billion or $6.8 billion per year from 2017.

Scania unit reported second-quarter record production of 20,987 units compared to 20,694 units a year ago period.