AXA, Continental, Rio Net Rise; HSBC, Credit Agricole, StanChart Net Fall

Sarla Buch
03 Aug, 2016
New York City

AXA net jumped 4%. Continental net soared 13% to

[R]4:00 PM Frankfurt – AXA net jumped 4%. Continental net soared 13% to €1.6 billion. Credit Agricole net fell 1% to €2.8 billion. HSBC net plunged 40% to $9.7 billion. NEXT lifted full-year profit forecast. Rio Tinto net doubled to $1.7 billion. StanChart tumbled 64% to $554 million.[/R]

In London trading, FTSE 100 index fell 11.50 or 0.2% to 6,633.65 and in Frankfurt the DAX index rose 30.80 or 0.3% to 10,174.15.

In Paris, CAC 40 index slid 5.13 to 4,322.06.

AXA SA dropped 2.2% to €17.02 after the France-based insurance services provider reported total revenues in the first-half ending in June were unchanged from a year ago to €54 billion.

Net income in the period jumped 4% from a year ago to €3.21 billion compared to €3.08 billion and diluted earnings per share advanced to €1.27 per share from €1.19.

Continental AG slipped 1.2% to €180.85 after the automobile parts and tyre maker said revenues in the first-half ending in June jumped 2.3% from a year ago to €20.04 billion.

Net income in the period soared 13.1% from a year ago to €1.64 billion compared to €1.45 billion and diluted earnings per share advanced to €8.19 per share from €7.24.

Credit Agricole SA fell 0.1% to €7.58 after the France-based banking and insurance services provider reported total revenues in the first-half ending in June declined 5.3% from a year ago to €15.42 billion.

Net income in the period fell 1.1% from a year ago to €2.76 billion compared to €2.73 billion.

HSBC Holdings Plc soared 5.1% to 507.60 pence after the U.K.-based banking and financial services provider said net interest income in the first-half ending in June slumped 4.1% from year ago to $15.76 billion.

Net profit in the period plunged 40% from a year ago to $9.7 billion compared to $13.6 million and diluted earnings per share dropped to 32 cents from 48 cents.

The bank said it will spend up to $2.5 billion to buy-back shares in the second-half of this year.

NEXT Plc jumped 3.8% to 5,325 pence after the U.K.-based apparel and accessories retailer said total sales across all channels in the second-quarter ending in June rose 0.3% while retail sales dropped 3.3%.

The retailer lifted group profit forecast in the year in the range of £755 million to £845 million compared to the earlier estimated range between £748 million and £852 million.

Rio Tinto Plc slipped 0.8% to 2,421.50 pence after the U.K.-based miner reported revenues in the first-half ending in June plunged 13.8% from year ago to $15.50 billion.

Net profit in the period more than doubled from a year ago to $1.7 billion compared to $806 million and diluted earnings per share jumped to 94.9 cents from 43.5 cents.

Standard Chartered Plc advanced 5.2% to 620.20 pence after the U.K.-based banking services provider said revenues in the first-half ending in June declined 14.5% from year ago to $6.57 billion.

Net profit in the period tumbled 63.8% from a year ago to $554 million compared to $1.5 billion and diluted earnings per share dropped to 11.9 cents from 55.5 cents.