Glaxo Tightens Fiscal Forecast, ThyssenKrupp Net Declines 36%

Sarla Buch
31 Oct, 2018
New York City

Air France KLM reaffirmed fiscal outlook despite net declined. Airbus reported better-than-expected results. Clariant sales and net jumped on higher price. GlaxoSmithKline beats earnings estimates. ThyssenKrupp net declined 36% on weak revenues.

[R]4:00 PM Frankfurt – Air France KLM reaffirmed fiscal outlook despite net declined. Airbus reported better-than-expected results. Clariant sales and net jumped on higher price. GlaxoSmithKline beats earnings estimates. ThyssenKrupp net declined 36% on weak revenues.[/R]

In London trading, FTSE 100 index increased 103.60 or 1.5% to 7,139.45 and in Frankfurt the DAX index advanced 175.40 or 1.6% to 11,462.79.

In Paris, CAC 40 index jumped 121.18 or 2.4% to 5,099.70.

Air France KLM SA jumped 3.1% to €8.75 after France-based airline services provider said revenues in the nine-month period ending in September rose 2% from a year ago to €20 billion.

Net income in the period tumbled 42.5% to €629 million from €1.1 billion in the same period a year ago and diluted earnings per share dropped to €1.23 from €2.71.

The airline group reaffirmed fiscal 2018 unit cost target to increase up to 1% and fuel prices and pension costs to grow in the range of 2% at 2.5% and operating result will be higher than the €1.3 billion and estimated to report positive results in the fourth quarter.

Airbus Group SE soared 5.8% to €99.32 after the Netherlands-based defense and aerospace products maker reported revenues in the nine-month period ending in September jumped 6.3% from a year ago to €40.4 billion.

Net income in the period surged 7.1% to €1.5 billion from €1.4 billion in the same period a year ago and diluted earnings per share advanced to €1.88 from €1.81.

The defense and aerospace products maker said deliver in fiscal 2018 of about 800 commercial aircraft and including around 18 A220 aircraft.

Airbus reaffirmed fiscal 2018 operating forecast of about €5 billion.

Clariant AG advanced 3.4% to 21.81 Swiss francs after Switzerland-based specialty chemicals maker said sales in the nine-month period ending in September surged 6% from a year ago to 5 billion francs and operating profit jumped 7% to 765 million francs.

Specialty chemicals said sales in natural-resources business climbed 14% after higher demand from oil and mining products.

GlaxoSmithKline Plc rose 0.3% to 1,541.80 pence after the U.K.-based drug maker reported revenues in the nine-month period ending in September advanced 4% from a year ago to £22.6 million.

Net income in the period soared 8% to £2.7 billion from £2.5 billion in a year ago period and diluted loss per share increased to 48.5 pence from 42.1 pence.

Glaxo forecasted fiscal 2018 earnings per share growth in the range of 8% to 10% and sales of Shingrix between £700 million and £750 million.

ThyssenKrupp AG increased 3.6% to €18.77 after Germany-based industrial conglomerate reported said net sales in the nine-month period ending in September grew 3% from a year ago to €31.7 billion.

Net income in the period declined 36% to €190 million from €296 million in the same period a year ago and diluted earnings per share advanced to €0.31 from €0.52.

The industrial conglomerate said operating profit soared 12% to €1.1 billion and pre-tax income surged 20% to €814 million from a year ago period.

ThyssenKrupp forecasted fiscal 2018 group sales growth in low single-digit percentage or €41.4 billion and operating profit of about €1.8 billion.