Bayer, Barclays, BT Group Net Surge; Eni, Shell Profit Decline

Nigel Thomas
30 Oct, 2014
New York City

Bayer lifted revenue forecast and net soared 13% to

[R]4:00 PM Frankfurt – Bayer lifted revenue forecast and net soared 13% to €826 million. Barclays profit surged 23% to £2.2 billion but revenue fell 2%. BT Group profit climbed 13% to £563 million. Eni profit in the quarter tumbled 57% to €1.7 billion on 11% decline in revenue and Shell profit dropped 5%.[/R]

In London trading, FTSE 100 index fell 0.1% or 6.62 to 6,447.25 and in Frankfurt the DAX index slid 0.1% or 10.70 to 9,072.11.

In Paris, CAC 40 index increased 0.4% or 16.58 to 4,127.22.

Bayer AG gained 1.9% to €109.20 after the Germany-based pharmaceutical reported sales in the third-quarter ending in September jumped 5.6% to €10.19 billion from €9.64 billion a year ago period.

Net income in the quarter soared 12.7% from a year ago period to €826 million compared to €733 million and earnings per share jumped to €1 from €0.89.

The company said sales from health care segment climbed 4.6% to €4.96 billion and sales from agriculture business or crop science soared 12.7% to €1.93 billion. Material science, high-tech polymer materials business sales jumped 4.8% to €3.04 billion.

The company lifted revenue forecast for the year in the health care segment to between €19.5 billion and €20 billion and for the pharmaceuticals and for crop science segment sales increase of about 10%.

Barclays Plc increased 1% to 222.65 pence after the U.K.-based financial services provider said net revenue in the nine-month ending in September fell 1.9% to £18.67 billion from £19.04 billion a year ago period.

Profit for the period surged 23.2% from a year ago to £2.23 billion compared to £1.81 billion and earnings per share increased to 9.4 pence from 8.7 pence.

The bank set aside £500 million in the third quarter to cover potential fines for rigging currency markets and additional £170 million to compensate customers for selling unnecessary loan insurance products.

BT Group Plc dropped 2.5% to $58.69 after the broadband, television and communications service provider reported revenue in the second-quarter ending in September fell 2% to £4.38 billion from £4.49 billion a year ago period.

Profit for the period climbed 13% from a year ago to £563 million compared to £499 million and earnings per share slipped to 5.6 pence from 7.8 pence.

BT said it added 38,000 customers for its own TV platform and paid £738 million to telecast 38 Premier League games and £897 million to show Champions League football from 2015.

Eni SpA increased 1.3% to €16.52 after the Italy-based oil and gas producer said net sales in the third-quarter ending in September plunged 10.7% to €26.60 billion from €29.78 billion a year ago period.

Net profit in the quarter tumbled 57% from a year ago period to €1.71 billion compared to €3.99 billion and earnings per share jumped to €0.48 from €1.10.

Eni signed a cooperation agreement with Pemex - Petroleos Mexicanos to establish the basis for knowledge sharing in the upstream, midstream and downstream areas.

Royal Dutch Shell Plc fell 0.4% to 2,227 pence after the U.K.-based oil and gas producer reported revenue in the third-quarter ending in September declined 7.4% to $107.85 billion from $$116.51 billion a year ago period.

Net income in the quarter dropped 4.7% from a year ago to $4.46 billion compared to $4.68 billion and diluted earnings per share slipped to 70 cents from 75 cents.