K+S, Stada Arzneimittel, Peugeot Up in Europe

Mayank Mehta
12 Nov, 2009
New York City

European markets closed lower on weak commodities. Potash maker K+S AG increased on better than expected earnings. Salzgitter AG declined on a loss for nine month period. Stada Arzneimittel AG quarterly net surged and reconfirmed the annual earnings outlook.

[R]7:00PM Frankfurt, Paris; 1:00 PM New York – European markets closed lower on weak commodities. Potash maker K+S AG increased on better than expected earnings. Salzgitter AG declined on a loss for nine month period. Stada Arzneimittel AG quarterly net surged and reconfirmed the annual earnings outlook.[/R]

European markets closed lower after cautious comments from Chinese premier dragged commodities lower. Sentiment was weak also in New York and Asian markets.

In London FTSE 100 Index closed higher 35.14 or 0.67% to 5,301.89, in Paris CAC 40 Index decreased 6.32 or 0.2% to close at 3,808.07, in Frankfurt DAX index lower 49.43 or 0.1% to close at 5,663.96.

K+S AG gained on better than expected earnings and expectations of higher sales volume for the rest of the year. Salzgitter AG decreased after it reported a loss. Stada Arzneimittel AG increased after the quarterly profit increased 40%.

Gainers & Losers

Aegon NV decreased 5.0% to €5.20 an insurer said third quarter net profit €145 million compared to net loss of €329 million a year ago.

Anheuser-Busch InBev NV added 0.6% to €48.64 after the consumer products company said third quarter revenues rose 61% to $9.76 billion from $6.06 billion a year ago. Net profit in the quarter rose 124% to $1.55 billion or 98 cents per diluted share compared to net profit of $690 million or 72 cents per share a year ago.

Celesio AG fell 1.6% to €18.14 after the pharmaceutical distribution company said nine months revenues fell 0.6% to €15.7 billion from €15.8 billion a year ago. Net loss in the nine months was €72 million or €0.44 per diluted share compared to net profit of €192.7 million or €1.12 per share a year ago.

Davide Campari-Milano SpA dropped 0.8% to €7.09 after the manufacturer of spirits said nine months revenues rose 7.2% to €696.5 million from €649.6 million a year ago. Pre-tax profit in the nine months rose 14.8% to €133.7 million compared to profit of €116.5 million a year ago.

Euro Disney SCA the theme-park operator plunged 11.3% to €5.23.

Fielmann AG added 1.6% to €52.47 after the glasses and contact lens retailer said third quarter revenues rose 7.1% to €246.7 million from €230.5 million a year ago. Net profit in the quarter fell 1.6% to €31.2 million or €0.74 per diluted share compared to net profit of €31.7 million or €0.76 per share a year ago.

GDF Suez SA fell 0.3% to €29.54 after the natural-gas network said first nine months Ebitda fell 2.7% as pricing in the gas market deteriorated, but confirmed it expects operating earnings to grow over the full year.

Hamburger Hafen und Logistik AG declined 2.9% to €25.95 after the port logistics groups said nine months revenues fell 25.8% to €746.0 million from €1.0 billion a year ago. Net profit in the nine months fell 61% to €72.1 million compared to net profit of €184.9 million a year ago.

HOCHTIEF AG the construction company fell 1.6% to €56.23.

K+S AG increased 3.4% to €39.16 after the chemical company said third quarter revenues fell 51.6% to €698.1 million from €1.44 billion a year ago. Net profit in the quarter fell 99% to €3.7 million compared to net profit of €333.5 million a year ago.

Lottomatica S.p.A fell 1.5% to €14.52 after the gaming operator said third quarter revenues rose 4% to €493.5 million from €473.9 million a year ago. Net profit in the quarter fell 53.5% to €13.2 million or €0.09 per diluted share compared to net profit of €28.4 million or €0.19 per share a year ago.

PSA Peugeot Citroen S.A rose 6.6% to €25.34 after the carmaker said on Thursday hiked its 2009 forecasts due to significantly stronger-than-forecast first-half production and sales.

Phoenix Solar AG decreased 4.1% to €35.37 after the photovoltaic system integrator said third quarter revenues fell 40% to €89.7 million from €149.8 million a year ago. Net profit in the quarter fell 93% to €1.0 million or €0.15 per diluted share compared to net profit of €13.8 million or €2.06 per share a year ago.

Q-Cells SE fell 3.8% to €10.93 after the solar company said third quarter revenues fell 48% to €184.1 million from €352.4 million a year ago. Net loss in the quarter was €248.2 million or €2.16 per diluted share compared to net profit of €73.6 million or €0.64 per share a year ago.

Repsol YPF, S.A integrated oil and gas company said third quarter net profit fell 47.4% to €368 million or €0.30 per diluted share compared to net profit of €699 million or €0.58 per share a year ago.

Renault SA advanced 3.1% to €32.18 after the carmaker said the long-awaited Dongfeng-Renault joint venture project may break ground soon in southern China.

Rexel SA rose 1.1% to €9.56 after the distributor of electrical equipment said third quarter sales 18% to €2.8 billion in line with previous quarters.

Rhoen-Klinikum AG the publicly traded hospital operator rose 1.0% to €17.13.

RWE AG fell 0.7% to €60.96 after the power producer said nine months revenues fell 2% to €33.77 billion from €34.45 billion a year ago. Net profit in the nine months rose 26% to €2.79 billion or €5.24 per diluted share compared to net profit of €2.21 billion or €4.09 per share a year ago.

Sanofi-Aventis rose 0.9% to €50.97 after the drugmaker was upgraded “overweight” at Barclays Plc.

SKW Stahl-Metallurgie Holding AG climbed 0.7% to €13.99 after the metallurgical company approved the rights offering that will offer 25 shares for every 12 held.

STADA Arzneimittel AG increased 2.1% to €21.12 after the health care and pharmaceutical company said third quarter revenues fell 6% to €383.3 million from €409 million a year ago. Net profit in the quarter rose 40% to €23.2 million or €0.39 per diluted share compared to net profit of €16.6 million or €0.28 per share a year ago.

TAG Immobilien AG increased 2.4% to €4.15 after the property investment company said nine months revenues rose 48.7% to €106.9 million from €71.9 million a year ago. Net loss in the nine months was €29.5 million or €0.91 per diluted share compared to net profit of €2.30 million or €0.06 per share a year ago.

Telefonica, S.A the telecommunications and media company said third quarter revenues fell 5.7% to €14.13 billion from €14.99 billion a year ago. Net profit in the quarter fell 0.5% to €1.99 billion compared to net profit of €2.0 billion a year ago.

Volkswagen AG the automobile manufacturer fell 2.2% to €101.20.

Wilex AG fell 0.4% to €4.78 after the biopharmaceutical company today resolved, with the approval of the supervisory board, to increase the company''s share authorized capital from €13,780,935.00 by up to €3,445,233.00 to up to €17,226,168.00 by issuing up to 3,445,233 new no-par value shares with a pro-rata interest in capital of €1.00 each and full entitlement to dividends effective 1 December 2008 in return for cash contributions.

DAX Index Movers

Volkswagen AG led the decliners in the DAX index of 3.39%, followed by losses in Salzgitter AG of 1.92%, in E. ON AG of 1.47%, in Commerzbank AG of 0.82%, Fresenius AG of 0.78%.

Linde AG led gainers in the DAX index with a rise of 2.83% followed by increase in Bayer AG of 2.67%, in Deutsche Lufthansa AG of 2.22%, in K + S AG of 1.68%, BASF SE of 1.43%.

CAC-40 Index Movers

Accor SA led the decliners in the CAC-40 index of 1.12%, followed by losses in Electricite de Strasbourg SA of 1.05%, in Unibail-Rodamco SA of 0.57%, in AXA of 0.57%, Pernod Ricard SA of 0.54%.

EADS NV gainers in the CAC-40 index with a rise of 3.40% followed by gainers in Renault SA. of 3.04%, in Schneider Electric SA of 2.08%, in Sanofi-Aventis of 1.94%, in STMicroelectronics N.V. of 1.93%.