Aviva Lifts dividend, UniCredit Net Rises on Higher Fees

Sarla Buch
03 Aug, 2017
New York City

Aviva profit surged on strong growth in general insurance business. Cobham swung to profit on flat revenues. LSE raised dividend. Neste net plunged but revenues soared. Siemens profit was ahead of expectations but larger order volume declined. UniCredit net benefited from higher fees.

[R]4:00 PM Frankfurt – Aviva profit surged on strong growth in general insurance business. Cobham swung to profit on flat revenues. LSE raised dividend. Neste net plunged but revenues soared. Siemens profit was ahead of expectations but larger order volume declined. UniCredit net benefited from higher fees.[/R]

In London trading, FTSE 100 index jumped 64.24 or 0.9% to 7,475.45 and in Frankfurt the DAX index fell 30.74 or 0.3% to 12,150.63.

In Paris, CAC 40 index advanced 24.03 or 0.5% to 5,131.39.

Aviva Plc increased 0.6% to 546.12 pence after the U.K.-based insurance services provider reported total revenues in the first-half ending in June jumped 7.9% from a year ago to £13.6 billion.

Net income in the period surged to £637 million from £130 million in a year ago six-month period and diluted earnings per share advanced to 14.7 pence from 2.4 pence.

Aviva said profit surge was driven by strong growth in general insurance business and total group assets under management increased to £475 billion from £450 billion in the same period a year ago.

Cobham Plc soared 6.5% to 142.90 pence after the U.K.-based defense products supplier said total revenues in the first-half ending in June were flat from a year ago to £1 billion.

Net in the period swung to profit £16.3 million from a loss of £25 million in a year ago six-month period and diluted earnings per share swung to 0.8 pence from diluted loss per share of 1.6 pence.

The defense and security provider said net debt in the period declined nearly half to £460.8 million from £877.2 million in the same period a year ago.

London Stock Exchange Group Plc advanced 2.5% to 3,857 pence after the U.K.-based stock exchange operator reported total revenues in the first-half ending in June soared 18% from a year ago to £853 million.

Net income in the period surged 84.2% to £175 million from £95 million in a year ago six-month period and diluted earnings per share rose to 50.4 pence from 27.4 pence.

Neste Oyj declined 5.8% to €34.89 after the Finland-based petroleum refiner said revenues in the first-half ending in June jumped 23% from a year ago to €6.4 billion.

Net income in the period plunged 6.1% to €402 million from €428 million in a year ago six-month period and diluted earnings per share dropped to €1.56 from €1.67.

Siemens AG dropped 2.6% to €113.05 after Germany-based diversified conglomerate reported sales in the nine-month period ending in June rose 5.4% from a year ago to €60.8 billion.

Net income in the period soared 11.3% to €5.9 billion from €5.3 billion in a year ago six-month period and diluted earnings per share soared to €5.76 from €5.24.

Siemens said orders declined 6% due to sharply lowered volume of large orders, particularly in Power and Gas and Siemens Gamesa Renewable Energy SA.

However, industrial business order backlog in the period remained at €117 billion.

UniCredit SpA surged 6.1% to €17.65 after Italy-based banking and financial services provider said total revenues in the first-half ending in June fell 2.5% from a year ago to €9.7 billion.

Net income in the period surged 40.2% to €1.9 billion from €1.3 billion in the six-month period and diluted earnings per share soared to €1.53 from €0.72.

The bank stock surged following higher fees and commissions as well on lower provisions for bad loans.

The lender added total deposits in the period jumped 3.8% to €394.9 billion while total customer loans dropped 1.8% to €420.7 billion.