Antofagasta Falls on Tariff Tensions; RWE, Straumann Net Decline

Sarla Buch
14 Aug, 2018
New York City

Antofagasta profit tumbled on tariff tensions. Bilfinger net loss narrowed and reaffirmed fiscal outlook. RWE net plunged on 8% decline in revenues. Straumann net dropped but revenues surged.

[R]4:00 PM Frankfurt – Antofagasta profit tumbled on tariff tensions. Bilfinger net loss narrowed and reaffirmed fiscal outlook. RWE net plunged on 8% decline in revenues.Straumann net dropped but revenues surged.[/R]

In London trading, FTSE 100 index fell 30.81 or 0.4% to 7,611.64 and in Frankfurt the DAX index edged up 0.13 to 12,358.87.

In Paris, CAC 40 index slid 8.91 or 0.2% to 5,403.41.

Antofagasta Plc plunged 5.9% to 895 pence after Chile-based copper miner said revenues in the first-half ending in June jumped 3.6% from a year ago to $2.1 billion.

Net income in the period tumbled 30.5% to $315.7 million from $454.6 million in the same period a year ago and diluted earnings per share dropped to 19.8 cents from 29.5 cents.

Bilfinger SE edged down 0.1% to €41.86 after France-based industrial engineering services provider said revenues in the first-half ending in June rose 1.5% from a year ago to €1.9 billion.

Net loss in the period narrowed to €12 million from €62 million in the same period a year ago and diluted earnings per share slumped to €0.28 from €1.40.

The engineering services provider reaffirmed fiscal 2018 revenues forecast likely to be stable to slightly increase and operating profit to increase significantly.

RWE AG jumped 3.7% to €21.67 after Germany-based electricity, gas, water, heating services provider reported revenues in the first-half ending in June declined 8.1% from a year ago to €6.8 billion.

Net profit in the period plunged to €521 million from €2.9 billion in the same period a year ago and diluted earnings per share slumped to €0.26 from €4.34.

The utility provider forecasted fiscal 2018 operating profit in the range of €1.5 billion to €1.8 billion.

Straumann Holding AG soared 4.7% to 810.50 Swiss francs after Switzerland-based dental implant maker said revenues in the first-half ending in June surged 25% from a year ago to 681.5 million francs.

Net profit in the period declined 5.6% to 132.9 million francs from 139.8 million francs and diluted earnings per share decreased to 8.20 francs from 8.63 francs.