Air Liquide Confident of Growth, Write Down Drags Credit Agricole Net

Sarla Buch
15 Feb, 2017
New York City

Akzo Nobel net plummeted 34%. Air Liquide revenues and net jumped after integration of Airgas. ABN AMRO net soared 23%. Credit Agricole net tumbled 67%. Heineken net plunged 19%. Nex revenues soared on bond market volatility.

[R]4:00 PM Frankfurt – Akzo Nobel net plummeted 34%. Air Liquide revenues and net jumped after integration of Airgas. ABN AMRO net soared 23%. Credit Agricole net tumbled 67%. Heineken net plunged 19%. Nex revenues soared on bond market volatility.[/R]

In London trading, FTSE 100 index rose 27.84 or 0.4% to 7,296.40 and in Frankfurt the DAX index edged up 6.63 to 11,778.19.

In Paris, CAC 40 index advanced 31.45 or 0.6% to 4,927.27.

Akzo Nobel N.V declined 3.4% to €62.22 after the Netherlands-based paints and coatings maker reported revenues in the fourth-quarter ending in December fell 3% from a year ago to €3.5 billion.

Net profit in the year plummeted 34% from a year ago to €133 million compared to €203 million and diluted earnings per share slumped to €0.53 from €0.82.

Air Liquide SA gained 1.6% to €9.22 after France-based industrial-gas producer said revenues in the year ending in December soared 15% from a year ago to €18.1 billion.

Net profit in the quarter jumped 5% from a year ago to €1.84 billion compared to €1.76 billion and diluted earnings per share increased to €5.10 from €4.97.

The gas producer said operating profit was 5.9% to €3.02 billion and operating margin increased to 16.7% after integration of Airgas acquisition.

ABN AMRO Group NV increased 3.6% to €22.48 after the Netherlands-based banking services provider stated net interest income in the fourth-quarter ending in December advanced 5% from a year ago to €1.6 billion.

Net profit in the year soared 23% from a year ago to €333 million compared to €272 million and earnings per share rose to €0.34 from €0.27.

Credit Agricole SA jumped 4.1% to €12.24 after France-based banking and insurance services provider said revenues in the fourth-quarter ending in December jumped 7% from a year ago to €4.6 billion.

Net profit in the year tumbled 67% from a year ago to €291 million compared to €882 million and diluted earnings per share dropped to €1.15 from €0.32.

In the quarter, the lender booked a €491 million write-down on its retail bank LCL, as net profit soared 15% to €136 million.

The bank said profit in corporate and investment bank surged to €271 million from €76 million a year ago and profit in insurance and asset-management business jumped 14% to €448 million and profit in specialized financial-services segment soared 15% to €170 million.

Heineken N.V advanced 3.6% to €75.55 after the Netherlands-based brewing and beer maker reported revenues in the year ending in December rose 1.4% from a year ago to €20.8 billion.

Net profit in the year plunged 19% from a year ago to €1.5 million compared to €1.9 million and diluted earnings per share increased to €3.68 from €3.57.

Dutch brewer said on February 13, it had signed an agreement with Kirin Holdings Company, Limited to acquire Brasil Kirin Holding SA, one of the largest beer and soft drinks producers in Brazil.

Nex Group Plc, formerly ICAP declined 4.3% to 549.75 pence after the financial trading services provider said group revenue in the third-quarter ending in December soared 11%.

Revenues in Nex Markets segment, foreign exchange and fixed income electronic trading technology through the EBS and BrokerTech platforms surged 15% and revenues in Nex Optimisation business jumped 6%.

In the quarter, Nex Markets maintained its leading market position with average daily volume in the U.S. Treasuries on the BrokerTec platform increasing 19% from a year ago to $175 billion.

Nex added the day after the U.S. presidential election, BrokerTec had its second highest volume day on record with more than $437 billion transacted.

""It is still too early to assume with any confidence that the previous and prolonged period of subdued market conditions has come to a permanent end,"" chief executive officer Michael Spencer said.

ICAP changed its name to Nex Group after Tullet Prebon acquired it’s voice broker business in December for £1.28 billion.