Technip Offers

Nigel Thomas
20 Nov, 2014
New York City

Babcock Intl net surged 25% to

[R]4:00 PM Frankfurt – Babcock Intl net surged 25% to £118 million on 23% increase in revenues. Centrica lowered fiscal adjusted earnings outlook. Johnson Matthey profit slid 0.4% to £172.8 million but increased dividend by 9%. ThyssenKrupp net swung to profit to €210 million after sales jumped 7%.[/R]

In London trading, FTSE 100 index slipped 0.5% or 33.98 to 6,662.62 and in Frankfurt the DAX index fell 0.5% or 48.10 to 9,424.70.

In Paris, CAC 40 index decreased 1.2% or 52.89 to 4,213.30.

Babcock International Group Plc climbed 5.8% to 1,183 pence after the U.K.-based engineering construction company reported total revenues in the first-half ending in September soared 22.8% to £1.94 billion from £1.58 billion a year ago period.

Net profit in the period surged 25% from a year ago to £117.9 million compared to £94.3 million and diluted earnings per share jumped to 23.6 pence from 22.4 pence.

Centrica Plc slipped 1.6% to 293.74 pence after the U.K.-based utility operator estimated adjusted earnings for the year between 19 pence and 20 pence a share, down from a previous guidance between 21 pence and 22 pence.

At the end of October, group net debt was £5.2 billion.

Johnson Matthey Plc climbed 5.7% to 3,333 pence after the U.K.-based diversified chemical company reported revenues in the first-half ending in September declined 25% to £4.80 billion from £6.41 billion a year ago period.

Net profit in the period slid 0.4% from a year ago to £172.8 million compared to £173.6 million and diluted earnings per share fell to 85.3 pence from 85.5 pence.

The board of directors increased the interim dividend by 9% to 18.5 pence and the payment is scheduled on February 3rd, 2015.

ThyssenKrupp AG gained 2% to €20.13 after the Germany-based carbon steel producer reported net sales in the year ending in September jumped 7.1% to €41.30 billion from €38.56 billion a year ago period.

Net in the year swung to profit from a year ago to €210 million compared to a loss of €1.44 billion and diluted earnings per share swung to €0.38 billion from a loss per share of €2.79 billion.

Order intake jumped 7% to €41.4 billion from €38.6 billion a year ago period.

The company said group net debt reduced by more than €1.5 billion to €3.5 billion from €5 billion in the year ending of 2013.

The company forecasted group adjusted EBIT to improve of about €1.5 billion.

Technip plunged 7.1% to €56.57 after the France-based onshore, offshore engineering construction company approached to acquire CGG SA, oil and gas services provider at a price of €8.30 per share or for total consideration of about €1.47 billion or $1.8 billion in a cash.

Shares of CGG surged 23.2% to €8.03.