Credit Suisse Net Surges 49%, Vivendi Looking to Sell Universal Stake

Sarla Buch
31 Jul, 2018
New York City

Credit Suisse profit surged 49%. Standard Chartered reported pre-tax profit jumped 34%. EDF net plunged but utility provider lifted profit forecast. Eurofins profit soared 22% on 25% jump in revenues. Fresenius reaffirmed fiscal 2018 outlook. Vivendi revenues surged.

[R]4:00 PM Frankfurt – Credit Suisse profit surged 49%. Standard Chartered reported pre-tax profit jumped 34%. EDF net plunged but utility provider lifted profit forecast. Eurofins profit soared 22% on 25% jump in revenues. Fresenius reaffirmed fiscal 2018 outlook. Vivendi revenues surged.[/R]

In London trading, FTSE 100 index jumped 73.70 or 0.9% to 7,774.89 and in Frankfurt the DAX index slipped 48.21 or 0.4% to 12,812.19.

In Paris, CAC 40 index increased 31.65 or 0.6% to 5,522.33.

Credit Suisse Group AG advanced 2.3% to 16.14 Swiss francs after Switzerland-based investment bank and financial services provider said revenues in the first-half ending in June jumped 5% from a year ago to 11.2 billion francs.

Net profit in the period surged 49% to 1.3 billion francs from 899 million francs in the same period.

The lender warned that geopolitical tensions """"are likely to trigger periods of heightened uncertainty through the remainder of 2018.""""

Electricite de France SA jumped 3.6% to €12.86 after France-based electricity producer and supplier reported revenues in the first-half ending in June advanced 5.7% from a year ago to €35.2 billion.

Net income in the period plunged 15% to €1.7 billion from €2 billion in the same period a year ago and diluted earnings per share slumped to €0.46 from €0.66.

EDF lifted fiscal 2018 operating profit forecast in the range of €14.8 billion to €15.3 billion from the earlier estimate of €14.6 billion to €15.3 billion.

Eurofins Scientific SE slipped 1.4% to €463..40 after testing and support services provider said revenues in the first-half ending in June soared 24.8% from a year ago to €1.7 billion.

Net income in the period jumped 22.4% to €91.1 million from €74.5 million in the same period a year ago and diluted earnings per share advanced to €5.32 from €4.39.

Fresenius SE & Co KGaA declined 3.9% to €66.30 after Germany-based health care services provider reported revenues in the first-half ending in June fell 1% from a year ago to €16.5 billion.

Net income in the period jumped 20% to €1.1 billion from €907 million in the same period a year ago and diluted earnings per share jumped to €1.96 from €1.63.

Fresenius reaffirmed fiscal 2018 revenues forecast between 5% and 8% and net income to grow in the range of 10% to 13%.

Standard Chartered Plc fell 0.2% to 695.40 pence after the U.K.-based banking and financial services provider said interest income in the first-half ending in June jumped 20.6% from a year ago to $8.2 billion.

Net income in the period soared 33.9% to $1.3 billion from $971 million in the same period a year ago and diluted earnings per share increased to 40.7 cents from 29.5 cents.

Vivendi SA soared 4.1% to €22.28 after France-based media conglomerate said revenues in the first-half ending in June soared 18.3% from a year ago to €6.5 billion.

Net income in the period plummeted 6.3% to €165 million from €176 million in the same period a year ago and diluted earnings per share increased to €0.13 from €0.14.

Separately, the media conglomerate said it intends to sell as much as 50% of its stake in the Universal Music Group.