Ball Corp Seeks Merger with Rexam, Deutsche Boerse and Nestle Net Rise

Nigel Thomas
19 Feb, 2015
New York City

Centrica net swung to a loss of

[R]4:00 PM Frankfurt – Centrica net swung to a loss of £1 billion but revenues soared 11%. Deutsche Boerse net climbed 80% to €224 million. Nestle profit surged 43% to 14.9 billion Swiss francs. Rexam received takeover offer of £4.43 billion. Swiss Re profit plunged 21% to $3.5 billion.[/R]

In London trading, FTSE 100 index fell 0.2% or 10.79 to 6,887.29 and in Frankfurt the DAX index edged up 5.39 to 10,966.39.

In Paris, CAC 40 index gained 0.3% or 15.45 to 4,814.48.

Centrica Plc plunged 8.3% to 257.80 pence after the U.K.-based energy company said revenues in the year ending in December soared 11% to £29.4 billion from £26.5 billion a year ago period.

Net in the year swung to a loss from a year ago to £1.01 billion compared to profit of £950 million and loss per share swung to 20.2 pence from earnings per share of 18.3 pence.

Deutsche Boerse AG jumped 1.2% to €69.90 after the German stock exchange operator reported net revenues in the fourth-quarter soared 15.1% to €544.5 million, up from €473 million a year ago period.

Net profit in the quarter climbed 79.8% from a year ago to €224 million compared to €124.6 million and diluted earnings per share advanced to €1.21 from €0.68.

Deutsche Börse forecasted net revenue in fiscal 2015 to grow between €2.1 and €2.3 billion.

The board of the exchange operator proposed stable dividend of €2.10 per share from a year ago period.

Nestle SA increased 0.8% to 71.70 Swiss francs after the Switzerland-based food and beverage maker reported sales in the year ending in December fell 0.6% to 91.61 billion francs from 92.16 billion francs a year ago period.

Profit in the year surged 42.7% from a year ago to 14.90 billion francs compared to 10.44 billion francs and diluted earnings per share climbed to 4.52 francs from 3.13 francs.

For fiscal 2015, Nestle forecasted organic growth of 5% and margins and underlying earnings per share in constant currencies.

Rexam Plc climbed 4.8% to 562 pence after the U.K.-based beverage can maker said sales in the year ending in December dropped 3% to £3.83 billion from £3.94 billion a year ago period.

Net profit in the year jumped 275.8% from a year ago to £357 million compared to £95 million and diluted earnings per share climbed to 48 pence from 11.6 pence.

The company received a cash-and-stock offer from U.S.-based rival Ball Corporation valued at about £4.43 billion or $6.85 billion.

Swiss Re AG gained 0.9% to 85.55 Swiss francs after the Switzerland-based diversified re-insurer reported revenues in the year ending in December climbed 8.8% to $30.76 billion from $28.28 billion a year ago period.

Net income in the year plunged 21.2% from a year ago to $3.50 billion compared to $4.44 billion and diluted earnings per share dropped to $9.39 from $11.89.

Board of directors proposed 4.25 francs as regular dividend and 3 francs as special dividend per share.

The company also plans for share buy-back program of up to 1 billion francs.