Allianz, Swiss Re Net Climb, National Grid Net Declines

Nigel Thomas
07 Nov, 2014
New York City

Allianz net climbed 11% to

[R]4:00 PM Frankfurt – Allianz net climbed 11% to €1.6 billion. Admiral Group turnover dropped 3% to £513 million. National Grid profit plunged 27% to £904 million. Rentokil revenue slumped 3% to £440 million. Swiss Re net surged 15% to $1.2 billion on 11% increase in revenue.[/R]

In London trading, FTSE 100 index increased 0.5% or 31.89 to 6,583.04 and in Frankfurt the DAX index fell 0.4% or 34.77 to 9,342.64.

In Paris, CAC 40 index slipped 0.5% or 21.34 to 4,206.34.

Allianz SE surged 5.3% to €133.30 after the Germany-based financial service provider reported total revenues in the third-quarter ending in September soared 14.5% to €28.78 billion from €25.14 billion a year ago period.

Net income in the quarter climbed 11.2% from a year ago to €1.61 billion compared to €1.44 billion and diluted earnings per share jumped to €3.52 from €3.14.

Admiral Group Plc dropped 2.3% to 1,230 pence after the U.K.-based motor insurance provider said group turnover in the third-quarter ending in September dropped 3% to £513 million from £528 million and car insurance declined 5% to £419 million from £440 million in the same period a year ago.

Group customers climbed 10% to 4.03 million and car insurance customers jumped 5% to 3.18 million.

National Grid Plc rose 0.05% to 917.50 pence after the U.K.-based electricity and gas utility producer reported revenue in the first-half ending in September declined 5.3% to £6.36 billion from £6.72 billion a year ago period.

Profit in the period plunged 26.5% from a year ago to £904 million compared to £1.23 billion and diluted earnings per share declined to 24 pence from 32.8 pence.

Playtech Plc jumped 2.3% to 650 pence after the U.K.-based online gaming software supplier stated total revenue soared 28.6% to €116.5 million from €90.6 million a year ago period.

Rentokil Initial Plc declined 4.5% to 116.60 pence after the U.K.-based business support service provider said revenue in the third-quarter ending in September slumped 3.4% to £439.5 million and pre-tax profit surged 16.7% to £48.8 million.

Swiss Re AG climbed 2.1% to 79.75 francs after the Switzerland-based reinsurer reported total premiums earned in the third-quarter ending in September climbed 11.2% to $8.31 billion from $7.47 billion a year ago period.

Net income in the quarter surged 14.9% from a year ago to $1.23 billion compared to $1.07 billion and earnings per share increased to $3.59 from $3.12.