Wincor Nixdorf, Praktiker Drop in Europe

123jump.com Staff
22 Jul, 2009
New York City

Stocks in Europe edged higher for the eighth day in a row. Praktiker AG dropped more than 9% on 38% decline in earnings Wincor Nixdorf plunged 15% after it reported 28% decline in quarterly earnings.

[R]6:00 PM Frankfurt, Paris; 1:00 PM New York – Stocks in Europe edged higher for the eighth day in a row. Praktiker AG dropped more than 9% on 38% decline in earnings Wincor Nixdorf plunged 15% after it reported 28% decline in quarterly earnings.[/R]

In Paris CAC 40 Index increased 2.18 or 0.07% to close at 3,305.07 and in Frankfurt DAX index higher 27.59 or 0.54% to close at 5,121.56.

Gainers & Losers

Allianz dropped 2.2% to 31.08 euros after the company chief Diekmann said that insurance business next year could be more challenging according to an interview with Capital magazine.

Praktiker AG, the home improvement retailer declined 9.4% to 6.87 euros after it reported second quarter net income fell 38% to 34.6 million euros on sales decline of 2.8% to 1.01 billion euros. Sales in Germany increased 2.9% to 815.2 million euros.

The Sweden’s largest telecom company Tele2 AB surged 8.8% to Skr 90.10 after it reported second quarter earnings of Skr 1.14 billion compared to a loss of Skr 54 million.

Lonza, the Swiss pharmaceuticals ingredient maker dropped 5.9% to Sfr 104.9 after it reported first half plunged 55% to Sfr 120 million.

Wincor Nixdorf AG plunged 15% to 36.25 euros after the company offered weak outlook on earnings and said that margins are under pressure. Diebold and NCR are also competing in the marketplace for ATM machines.

Net sales in the quarter decreased 12% to 495.6 million euros and net income declined 28% to 22.9 million euros.

Europe Markets Review

In London FTSE 100 Index closed higher 12.56 or 0.28% to 4,493.73, in Paris CAC 40 Index increased 2.18 or 0.07% to close at 3,305.07 and in Frankfurt DAX index higher 27.59 or 0.54% to close at 5,121.56. In Zurich trading SMI increased 0.83 or 0.01% to close at 5,637.02.

DAX Index Movers

Hannover Rue AG led the decliners in the DAX index of 2.66% followed by losses in MAN SE of 1.68%, in Deutsche Boerse AG of 1.27%, in Commerzbank AG of 1.20%, in ThyssenKrupp AG of 0.91%.

SAP AG led gainers in the DAX index with a rise of 2.82% followed by increase in Merck KGaA of 2.65% in BASF SE of 2.31%, in BAYER AG of 2.15%, in Linde AG of 2.11%.

CAC-40 Index Movers

Schneider Electric SA led the decliners in the CAC-40 index of 1.96% followed by losses in AXA of 1.58%, in Cap Gemini SA of 1.45%, in Air France-KLM of 1.25%, in ArcelorMittal of 1.06%.

Lagardere SCA gainers in the CAC-40 index with a rise of 4.47% followed by gains in Dexia SA of 2.65%, in Michelin SCA of 2.56%, in Essilor International SA of 1.75%, in Sanofi-Aventis of 1.54%.

FTSE 100 Index Movers

Of the stocks in the FTSE 100 index, 65 increased, 33 declined and 4 were unchanged.

Lonmin Plc decliners in the FTSE 100 index with a loss of 3.15% followed by losses in Barclays Plc of 3.14%, in Aviva Plc of 2.24%, in Kazakhmys Plc of 2.12%, in BHP Billiton Plc of 1.80%.

Shire Plc led gainers in the FTSE 100 index with a rise of 3.96% followed by increase in Next Plc of 3.28%, in Reed Elsevier Plc of 3.20%, in TUI Travel Plc of 3.00%, in Imperial Tobacco Group Plc of 2.70%.