Inflation Halts from Falling in Euro Zone, BNP Paribas Net Rises

Nigel Thomas
30 Apr, 2015
New York City

Airbus profit surged 80% to

[R]4:00 PM Frankfurt – Airbus profit surged 80% to €792 million. BNP Paribas net climbed 18% to €1.7 billion. Fresenius Medical Care rose 2% to $210 million. Holcim climbed 289% to 310 million francs. RBS net swung to a loss to £446 million. Swiss Re net surged 17% to $1.4 billion.[/R]

Stocks struggled to hold ground across Europe and the latest inflation report suggested prices have halted the declining trend.

In a preliminary estimate the annual inflation in the euro area break even in April after falling 0.1% in March and dropping 0.6% in January, the Statistical Office of the European Communities said today.

The core rate of inflation excluding food and energy costs was unchanged in April at 0.6%.

In a separate report, the statistics office said seasonally adjusted unemployment rate in the euro zone in March was stable at 11.3% from February but dropped from 11.7% in the month a year ago.

In the wider European Union region of 28-nations unemployment rate was stable 9.8% from February but fell from 10.4% in March a year ago.

Unemployment from a year ago declined by 1.523 million in the EU28 and 679,000 in the euro area.

In London trading, FTSE 100 index fell 0.2% or 15.08 to 6,931.20 and in Frankfurt the DAX index gained 0.4% or 40.97 to 11,473.69.

In Paris, CAC 40 index slid 0.1% or 5.21 to 5,034.18.

For the week, FTSE 100 index slipped 0.5% and in Frankfurt the DAX index dropped 2%.

In Paris, CAC 40 index declined 1.6%.

For the month of April, FTSE 100 index jumped 1% and in Frankfurt the DAX index plunged 5.2%.

In Paris, CAC 40 index decreased 0.5%.

Airbus Group NV increased 1.8% to €61.69 after the France-based aerospace and defense products maker reported group revenues in the first-quarter ending in March slipped 3.9% to €12.1 billion from €12.6 billion a year ago.

Net profit in the quarter surged 80.4% from a year ago to €792 million compared to €439 million and diluted earnings per share jumped to €1.01 from €0.56.

BNP Paribas SA declined 2.6% to €55.85 after the France-based retail bank said total revenues in the first-quarter ending in March soared 11.6% to €11.06 billion from €9.91 billion a year ago

Net profit in the quarter climbed 17.5% from a year ago to €1.65 billion compared to €1.40 billion and diluted earnings per share jumped to €1.01 from €0.56.

Fresenius Medical Care AG & Co gained 1.2% to €76.22 after the Germany-based kidney dialysis treatment provider said revenue in the first-quarter ending in March soared 11% to $3.96 billion from $3.56 billion in a year ago period.

Net profit in the quarter increased 2% from a year ago to $210 million compared to $205 million and earnings per share increased to 35 cents from 34 cents.

The dialysis company forecasted 2016 revenue to climb between 9% and 12% and net income to increase in the range of 15% to 20%.

Holcim Ltd rose 1.3% to 75.75 Swiss francs after the Switzerland-based building materials maker said net sales in the first-quarter ending in March dropped 2.8% to 3.97 billion francs from 4.09 billion francs in a year ago period.

Net income in the quarter climbed 289.3% from a year ago to 310 million francs compared to 80 million francs and diluted earnings per share gained to 0.95 francs from 0.24 francs.

Royal Bank of Scotland Group Plc declined 3.5% to 337.10 pence after the U.K.-based financial services provider said total revenues in the first-quarter ending in March plunged 25% to £3.52 billion from £4.69 billion in a year ago period.

Net in the quarter swung to a loss from a year ago to £446 million compared to profit of £1.20 billion and diluted loss per share swung to 2.1 pence from a year ago period.

Swiss Re AG fell 0.5% to 82.85 Swiss francs after the Switzerland-based diversified re-insurer reported total revenues in the first-quarter ending in March soared 17% to $10.46 billion from $8.94 billion in a year ago period.

Net income in the quarter surged 17.1% from a year ago to $1.44 billion compared to $1.23 billion and earnings per share jumped to $3.83 from $3.28.

Zoopla Property Group Plc surged 17.5% to 217.30 pence after the U.K.-based online property services provider agreed to acquire price comparison service provider uSwitch for £160 million or $247 million.