European Movers: Schneider, Thyssen Krupp, Fortis
ALLIANCE & LEICESTER was up £0.48 to £6.84... Core op profit to be lower than ests - The company says including the change in the fair value and impairment of Treasury investments, which at the end of October totalled a charge of £55 million, core operating profit will be lower than the current range of analyst forecasts. the company says is maintaining strong asset quality whilst delivering franchise growth and good cost control. Expects the rate of growth in interest earning assets to slow in 2008. The company says at the end of October the fair value of the CDOs, along with FRNs and ABS, had fallen by £101 million compared to 31 December 2006, reflecting market prices. The company says total Treasury impairment loss charge for 10M to 31 October was £40 million, which is reflected in the profit and loss account.
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