Europe Movers: IG Group, Sainsbury, Just Eat, OneSavings, Orange

Nigel Thomas
17 Mar, 2015
New York City

IG Group third-quarter revenues declined 5% to

[R]4:00 PM Frankfurt – IG Group third-quarter revenues declined 5% to £92 million. Sainsbury sales dropped and the retailer invested £150 million to reduce the prices on more than 1,100 items. Just Eat revenues and pre-tax profit surged. OneSavings Bank pre-tax profit doubled to £64 million.][/R]

In London trading, FTSE 100 index rose 0.1% or 12.59 to 6,816.67 and in Frankfurt the DAX index declined 1.8% or 219.62 to 11,948.10.

In Paris, CAC 40 index dropped 0.9% or 47.21 to 5,013.95.

IG Group Holdings Plc slipped 0.8% to 735 pence after the U.K.-based trading company stated revenues in the third-quarter ending in February declined 5.1% to £91.8 million from £96.7 million a year ago period.

The company added that the sharp swing in Swiss franc in the early part of the quarter resulted in client debts of £18.4 million.

J Sainsbury Plc fell 0.4% to 267.63 pence after the U.K.-based supermarket and convenience stores operator said total retail sales in the fourth-quarter declined 0.3% and comparable store sales in the quarter dropped 1.9%.

The company reported higher than expected quarterly earnings despite £150 million investment to reduce prices on more than 1,100 items since November.

The retailer said convenience store sales increased 14% and opened 23 new convenience stores and number of orders rose 14% in online grocery business.

Just Eat Plc climbed 2.4% to 372.10 pence after the U.K.-based online food services provider reported revenues in the year ending in December soared 62% to £157 million from £96.8 million a year ago period.

Pre-tax profit in the year surged 465.7% from a year ago to £57.7 million compared to £10.2 million.

The company said revenues increased mainly due to 37% surge in active users to 8.1 million.

The online takeaway delivery service provider forecasted revenue for the fiscal 2015 of more than £200 million.

OneSavings Bank Plc surged 13.5% to 240 pence after the U.K.-based financial service provider said pre-tax profit in the year ending in December more than double to £63.7 million and outstanding loans climbed 29% to £3.9 billion.

Bank said it will pay a maiden annual dividend of 3.9 pence per share.

Orange SA declined 3.2% to 14.88 after the France-based mobile and internet operator restated fiscal 2015 operating earnings in the range between €11.9 billion and €12.1 billion.

Orange said estimated revenues in 2018 will be higher than the fiscal 2014 and plans to invest more than €15 billion in networks between 2015 and 2018.