Market Updates

ArcelorMittal, HeidelbergCement, IAG Net Jump; Barclays, Diageo Net Drop

Sarla Buch
29 Jul, 2016
New York City

    ArcelorMittal net surged but revenues plunged 13%. Barclays profit tumbled 31% on 9% drop in revenues. Diageo net declined 6%. Daimler plans to invest

[R]4:00 PM Frankfurt – ArcelorMittal net surged but revenues plunged 13%. Barclays profit tumbled 31% on 9% drop in revenues. Diageo net declined 6%. Daimler plans to invest €1 billion in central Hungary. HeidelbergCement net soared 46%. IAG profit surged 67%.[/R]

In London trading, FTSE 100 index rose 12.54 or 0.2% to 6,733.59 and in Frankfurt the DAX index increased 52.41 or 0.5% to 10,328.23.

In Paris, CAC 40 index slid 9.46 or 0.2% to 4,431.98.

For the week, FTSE 100 index edged up 0.03%, the DAX index increased 1.8% and the CAC 40 index gained 1.2%.

For the month, FTSE 100 index jumped 5.9% and the DAX index surged 7.4% and the CAC 40 index soared 5.6%.

ArcelorMittal S.A surged 6.4% to €5.79 after the Luxembourg-based steel producer said revenues in the first-half ending in June plunged 12.7% from a year ago to $14.74 billion.

Net income in the period surged from a year ago to $1.11 billion compared to $179 million and diluted earnings per share jumped to 38 cents per share from 23 cents.

Barclays Plc soared 5.9% to 155.17 pence after the U.K.-based financial services provider reported revenues in the first-half ending in June declined 9% from year ago to £11.01 billion.

Net profit in the period tumbled 31% from a year ago to £1.11 billion compared to £1.61 billion and diluted earnings per share rose to 6.8 pence from 9.7 pence.

The bank kept a provision of £400 million for the aggressive selling of payment protection insurance.

Diageo Plc slipped 1.1% to 2,169.93 pence after the U.K.-based spirits, beer and wine maker stated net sales in the year ending in June fell 3% from year ago to £10.49 billion.

Net profit in the period declined 6% from a year ago to £2.24 billion compared to £2.38 billion and diluted earnings per share rose to 89.5 pence from 95 pence.

Daimler AG fell 0.4% to €60.56 after the Germany-based passenger cars and trucks maker plans to invest €1 billion by 2020 to build a new factory in Hungary at Kecskemet, central Hungary for production of Mercedes-Benz passenger cars.

HeidelbergCement AG jumped 4.1% to €76.39 after the Germany-based building materials producer reported revenues in the first-half ending in June slid 1% from a year ago to €6.41 billion.

Net income in the period soared 46.3% from a year ago to €354 million compared to €242 million and diluted earnings per share jumped to €1.31 per share from €0.79.

International Consolidated Airlines Group SA decreased 0.2% to 408.46 pence after the U.K.-based airlines operator stated revenues in the first-half ending in June advanced 4.1% from a year ago to €10.79 billion.

Net profit in the period surged 66.9% from a year ago to €554 million compared to €332 million and diluted earnings per share jumped to €25.6 from €15.4.

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