On the Move:Renault, Unilever, CS Group
From Standard & Poor's European MarketScope
ICI was down £0.06 to £3.89. The company unveiled third quarter continuing adj. pretax profit of £144 million, +10%; adj. net profit £11 million.
CARPHONE WAREHOUSE was down £0.07 to £2.88. The company posted first half revenue of £1.809.4 billion, +40.2%; headline pretax profit £59.3 million, +60.1%; pretax profit £14.1 million, -61.8%; EPS 5.27p, +67.3%; DPS 1.00p, +33.3%.
SMITH & NEPHEW was down £0.08 to £5.01. The company reported third quarter revenue of US$679 million, +10%, driven by new product success; underlying EPS US$0.103, +6%; trading profit US$134 million, +15%.
BG PLC was up £0.08 to £6.81. The company posted third quarter operating profit of £633 million, +15%; profit was £342 million, +11%; third quarter production volumes were 50.6 mmboe, +23%.
RENAULT was up €1.00 to €93.95. French car and light-truck sales rose by 12% in October. The company's sales increased as well.
CARREFOUR was up €0.40 to €48.45. The company plans to spend US$500 million over the next three years to expand its network of stores in Turkey, Hurriyet newspaper reported, citing the company's local partner.
PPR was down €1.50 to €116.90. The company is interested in making acquisitions in Italy and France, Il Sole 24 Ore wrote, citing an interview with Francois-Henri Pinault. The CEO did not identify potential targets but said acquisitions should be complementary to the company in terms of products and market position.
ALTANA (AAA) was up €1.21 to €44.80. The company said it will pay a special dividend of €31. It reiterated its 2006 outlook statement.
BASF (BF) was down €0.36 to €68.21. The company reported third quarter sales up 28% to €13.3 billion, higher than expected, and quarterly pre-exceptional operating profit of €1.6 billion, broadly in line with expectations.
MAN was up €0.91 to €72.00. Third quarter operating profit topped estimates coming in at €278 million, up 64% year-over-year. The company has lifted its profit forecast for the year as a whole, now forecasting an operating margin of 8% instead of sticking to the previously stated 7.5%.
BMW was up €0.05 to €45.25. The company's quarterly pretax profit rose 9.4% to €720 million and net profit came in at €452 million. Both numbers fell short of expectations.
AHOLD was up €0.02 to €8.35. Third quarter sales came in 0.7% higher year-over-year at €10.3 billion. At constant exchange rates, sales rose 3.7%. ABN Amro said sales were 2% better than forecast, despite the company suffering further margin pressure in the US. It maintained its hold recommendation and €8.80 target price.
UNILEVER (UN) was up €0.58 to €19.80. The company posted third quarter underlying sales growth 4.8%; op. margins were 14.8%; pretax profit was €1.128 billion, -19% at constant fx, a fall widely expected because of higher marketing during the period; EPS was €0.25; op. profit was €1.501 billion.
METROVACESA was up €4.00 to €120.60. The company announced nine months net profit up 176% year-over-year to €861 million, ahead of forecasts. It said EBITDA came in at €1.46 billion, +185% year-over-year.
ENDESA was up €0.20 to €34.85. On Friday Spain will give details on the 19 conditions imposed on E.On's (EON) bid for the company, in a response to the EU over its complaints that the conditions are illegal, wrote Cinco Dias.
TENARIS was up €0.78 to €16.15. The company's shares rallied ahead of third quarter results on Nov. 8. Sources said that figures will include first time consolidation of Maverick.
DNB NOR was down NOK1.20 to NOK85.00. The company reported third quarter NII of NOK3.91 billion, up from NOK3.43 billion and higher than forecasts of around NOK3.8 billion. Other operating income came in at NOK2.93 billion vs. NOK3.14 billion.
SKANSKA was down SEK7.75 to SEK122.00. The company reported third quarter sales of SEK31.92 billion, down from SEK32.2 billion and short of market estimates of around SEK34.0 billion. pretax profit comes in at SEK1.05 billion, down from SEK1.14 billion and short of market forecasts of around SEK1.2 billion.
CS GROUP was up CHF2.30 to CHF77.25. The company's quarterly net profit topped expectations - coming in at CHF1.89 billion, supported by strong fixed income trading results.