US weekly jobless claims data which turned out to be disappointing became the scapegoat for European shares performance on Thursday. In Frankfurt, DAX index was closed less than 0.1% at 6,333.58; while in London, FTSE index was at 5,365.78 at the end of the day or down 0.4%.US weekly jobless claims data which turned out to be disappointing became the scapegoat for European shares performance on Thursday. In Frankfurt, DAX index was closed less than 0.1% at 6,333.58; while in London, FTSE index was at 5,365.78 at the end of the day or down 0.4%.
Bayer AG, BMW, and Siemens were among top gainers in Germany with Bayer jumped 4.17% to end at 48.51 euros following up Wednesday’s news on Xarelto drug successful trials. BMW was up 1.9% to 44.52 euros as a follow through to its recent earnings report which saw around 7 times bigger net profit in Q2. Compared to prior year, net profit was seen at 834 million euros. Siemens’ success in acquiring 50% stakes in two project companies planning a power plant in Germany and Hungary.
Commerzbank on Thursday reported 2Q10 net profit of 352 million euros from a loss of 761 million euros in the previous year. The result beat the consensus estimate of 121 million euros. Other figures were revenue of 3.11 billion euro (vs. prior 3.03 billion euros), operating profit and loan loss provision amounted to 243 million euros and 639 million euros, respectively.
Elsewhere, Deutsche Telekom AG announced a drop in net profit during the 2Q10 to 475 million euros from 521 million euros (2Q09). Net revenue fell to 15.53 billion euros from 16.24 billion euros.
Allianz disclosed its 2Q10 profit that amounted to 1.02 billion euros from 1.87 billion euros (2Q09)
Barclays also released its 1H10 earnings which showed a 29% rise in net profit to 2.43 billion pounds from 1.89 billion pounds due to tripling profit at its investment banking unit. Barclays fell 4.7% despite the result. According to analysts, the results were resilient but uninspiring.
In the consumer goods sector, Unilever fell 5.2% after it warned of a tougher second half, partly due to higher commodity costs and fierce competition.
From the economy front, both Bank of England and European Central Bank held rates steady at 0.5% and 1%, respectively.
Bayer AG, BMW, and Siemens were among top gainers in Germany with Bayer jumped 4.17% to end at 48.51 euros following up Wednesday’s news on Xarelto drug successful trials. BMW was up 1.9% to 44.52 euros as a follow through to its recent earnings report which saw around 7 times bigger net profit in Q2. Compared to prior year, net profit was seen at 834 million euros. Siemens’ success in acquiring 50% stakes in two project companies planning a power plant in Germany and Hungary.
Commerzbank on Thursday reported 2Q10 net profit of 352 million euros from a loss of 761 million euros in the previous year. The result beat the consensus estimate of 121 million euros. Other figures were revenue of 3.11 billion euro (vs. prior 3.03 billion euros), operating profit and loan loss provision amounted to 243 million euros and 639 million euros, respectively.
Elsewhere, Deutsche Telekom AG announced a drop in net profit during the 2Q10 to 475 million euros from 521 million euros (2Q09). Net revenue fell to 15.53 billion euros from 16.24 billion euros.
Allianz disclosed its 2Q10 profit that amounted to 1.02 billion euros from 1.87 billion euros (2Q09)
Barclays also released its 1H10 earnings which showed a 29% rise in net profit to 2.43 billion pounds from 1.89 billion pounds due to tripling profit at its investment banking unit. Barclays fell 4.7% despite the result. According to analysts, the results were resilient but uninspiring.
In the consumer goods sector, Unilever fell 5.2% after it warned of a tougher second half, partly due to higher commodity costs and fierce competition.
From the economy front, both Bank of England and European Central Bank held rates steady at 0.5% and 1%, respectively.
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