Fraport Traffic Rises 3.9%, Technicolor Missed Operating Profit Targer

Sarla Buch
13 Jan, 2017
New York City

Countrywide net declined 9% and forecasted transaction volumes to fall 6%. Fraport said passenger traffic in December rose 4%. Grafton soared after annual revenues jumped 13%. SIG sales jumped 11%. Technicolor tumbled after operating profit lower than the previous estimate.

[R]4:00 PM Frankfurt – Countrywide net declined 9% and forecasted transaction volumes to fall 6%. Fraport said passenger traffic in December rose 4%. Grafton soared after annual revenues jumped 13%. SIG sales jumped 11%. Technicolor tumbled after operating profit lower than the previous estimate.[/R]

In London trading, FTSE 100 index advanced 33.35 or 0.5% to 7,325.72 and in Frankfurt the DAX index increased 104.84 or 0.9% to 11,626.42.

In Paris, CAC 40 index jumped 55.67 or 1.1% to 4,919.64.

For the week, FTSE 100 index gained 1.6%, the DAX index rose 0.2% and the CAC 40 index edged up 0.2%.

Countrywide Plc jumped 2.6% to 174.75 pence after the U.K.-based property services provider said total group income in the year ending in December edged up 0.4% from a year ago to £737 million but for the fourth-quarter net income declined 8.7% to £179 million.

The property services provider forecasted transaction volumes in the full-year to plunge 6%.

Fraport AG gained 1.2% to €56.72 after Germany-based airport services provider passenger traffic in December jumped 3.9% to almost 4.3 million passengers and cargo traffic soared 7.6% to 188,635 metric tons.

Fraport said in the fiscal 2016 total passenger traffic fell 0.4% to 60.8 million and airfreight and airmail shipment increased 1.8% from a year ago to 2.15 million metric tons.

Grafton Group Plc soared 7.6% to 581.50 pence after the U.K.-based building materials provider reported group revenues in the year ending in December surged 13.4% from a year ago to £2.51 billion.

Grafton said domestic revenues advanced 6.6% while revenues in the Ireland surged 26.7%. Revenues in retail business increased 12.8% and revenues in manufacturing segment soared 13.4%.

Renault SA dropped 2% to €84.51 and French prosecutors opened preliminary investigation on suspicion of emissions scandal but the passenger cars maker has denied using devices to cheat on emissions tests.

However, in the earlier investigation by the French environment ministry found some cars made by Renault emitted nitrous oxide that exceed limits set by the European Union.

SIG Plc surged 15.6% 108.40 pence after the U.K.-based building products provider said group sales in the year jumped 11.2% from a year ago to £2.7 billion and comparable sales increased 0.3%.

The group reaffirmed operating profit in the year in the range of £75 million to £80 million.

Technicolor SA tumbled 20% to €3.91 after France-based entertainment group said operating profit in the year of €565 million, lower than the range estimated in October of €600 million to €630 million.

The entertainment technology company generated free cash flow of more than €240 million.