Airbus, Net Soars, Deutsche Bank Net Tumbles; Glaxo Net Swing to Loss

Sarla Buch
27 Jul, 2016
New York City

Airbus profit surged 16% and the aviation group booked fresh charges of

[R]4:00 PM Frankfurt – Airbus profit surged 16% and the aviation group booked fresh charges of €1.4 billion. ARM net income jumped 12%. Deutsche Bank net tumbled 83%. Glaxo net swung to a loss while revenues soared 11%.[/R]

European markets advanced and reacted to positive market sentiment in New York and Asian markets.

In London trading, FTSE 100 index gained 25.33 or 0.4% to 6,749.37 and in Frankfurt the DAX index increased 70.85 or 0.7% to 10,320.37.

In Paris, CAC 40 index jumped 50.55 or 1.2% to 4,445.32.

Airbus Group SE soared 4.9% to €54.27 after the Netherlands-based aerospace and defense industry reported revenues in the first-half ending in June fell 0.4% from a year ago to €28.76 billion.

Net profit in the period surged 15.8% from a year ago to €1.76 billion compared to €1.52 billion and diluted earnings per share jumped to €2.26 from €1.94.

Airbus booked fresh charges of about €1.4 billion or $1.54 billion for its troubled A400M military troop airlifter planes and its delayed A350 jetliner

ARM Holdings Plc fell 0.4% to 1,675.37 pence after the U.K.-based chip maker said revenues in the first-half ending in June soared 19% from a year ago to £544.1 million.

Net profit in the period jumped 12% from a year ago to £181.5 million compared to £162.1 million and diluted earnings per share rose to 12.8 pence from 11.4 pence.

On July 18, the chipmaker agreed to be acquired by Japan-based communications services provider SoftBank Group Corp., for about £24.3 billion or $32 billion.

London City Airport, the airport operator said today that it received permission under the City Airport Development Programme for about a £344 million to expand the airport.

The airport operator said under the plan, the airport can add 32,000 flights by 2025 and will lift the airport capacity to 6.5 million passengers each year by 2025 from 4.3 million in 2015.

Deutsche Bank AG declined 2% to €12.59 after the Germany-based bank reported net revenues in the first-half ending in June plunged 5% from a year ago to €12.75 billion.

Net profit in the period tumbled 82.7% from a year ago to €256 million compared to €1.38 billion and diluted earnings per share dropped to €0.03 from €0.78.

Electricite de France SA gained 1.7% to €11.15 after the France-based electricity producer’s shareholders approved plans to raise €4 billion or £3.4 billion through the issue of new shares to fund the Hinkley Point C nuclear power station.

GlaxoSmithKline Plc increased 1.7% to 1,695 pence after the U.K.-based healthcare products maker reported revenues in the first-half ending in June soared 10.9% from year ago to £12.76 billion.

Net in the period swung to a loss of £140 million compared to profit of £8.15 billion and diluted loss per share sung to 3.2 pence from diluted earnings per share of 169.2 pence.

Separately, the healthcare products maker agreed to invest £275 million to expand its U.K. manufacturing sites at Barnard Castle, Co. Durham; Montrose, Scotland; and Ware, Hertfordshire.