Air France KLM Traffic Jumps, Carl Zeiss Net Surges on Margin Boost

Sarla Buch
08 Dec, 2017
New York City

Abbey net soared 9%. Air France KLM passengers traffic in November jumped 5.9%. Berkeley lifted earnings estimate but warns of Brexit risks. Carl Zeiss Meditec profit surged on higher margin.

[R]4:00 PM Frankfurt – Abbey net soared 9%. Air France KLM passengers traffic in November jumped 5.9%. Berkeley lifted earnings estimate but warns of Brexit risks. Carl Zeiss Meditec profit surged on higher margin.[/R]

In London trading, FTSE 100 index jumped 66.34 or 0.9% to 7,387.09 and in Frankfurt the DAX index increased 110.65 or 0.9% to 13,155.71.

In Paris, CAC 40 index advanced 24.67 or 0.5% to 5,408.53.

For the week, FTSE 100 index increased 1%, the DAX index jumped 2.3% and the CAC 40 index soared 1.6%.

Abbey Plc jumped 4.6% to 1,348.80 pence after the U.K.-based building and property developer said revenues in the first-half ending in October increased 2.4% from a year ago to £90.4 million.

Net profit in the period soared 9.1% to £19.1 million from £17.5 million in a year ago period and diluted earnings per share advanced to 89.19 pence from 81.13 pence.

Abbey said home construction unit completed sales of 237 unit with revenues of €79.7 million and operating profit of €21.3 million.

Air France KLM SA increased 1.1% to €12.63 after France-based cargo and airline services provider said total passengers traffic jumped 5.9% to 7.4 million people and load factor improved to 85.5% from 84.1% in the same month a year ago.

Berkeley Group Holdings Plc soared 8.7% to 4,180 pence after the U.K.-based homebuilder reported revenues in the first-half ending in October surged 13.7% from a year ago to £1.6 billion.

Net profit in the period jumped 39.5% to £433 million from £310.5 million in a year ago period and diluted earnings per share increased to 308.2 pence from 209.6 pence.

The homebuilder forecasted record fiscal 2017 and fiscal 2018 pretax profit to jump 60% to £1.5 billion.

Carl Zeiss Meditec AG gained 1.2% to €52.09 after Germany-based medical technology and device maker reported revenues in the year ending in September jumped 9.3% from a year ago to €1.2 billion.

Net profit in the period surged 36.7% to €134.4 million from €98.3 million in a year ago period and diluted earnings per share increased to €1.57 from €1.21.

Swiss Re AG rose 0.1% to 90.80 Swiss francs after Insurance Australia Group Ltd said it will share 12.5% of its premiums and costs with Switzerland-based reinsurer Swiss Re and Germany-based Munich Re and Hannover Re.

Under the terms, the reinsurers will receive 12.5% of IAG''s premium income in exchange for paying 12.5% of its claims and expenses from January 1, 2018.

The insurer said deal will cover the business in Australia, New Zealand and Thailand and cut its regulatory capital requirement by about A$435 million or $326.73 million up to fiscal 2020.