4:00 PM Frankfurt – Bellway forecasted strong growth in revenues. Deutsche Post profit jumped. Pandora reaffirmed revenue estimate but missed earnings estimates. Paddy Power Betfair net swung to profit. Standard Life profit soared 29% ahead of Aberdeen merger this month.
In London trading, FTSE 100 index slid 4.60 to 7,527.34 and in Frankfurt the DAX index decreased 44.97 or 0.4% to 12,211.50.
In Paris, CAC 40 index fell 7.90 or 0.2% to 5,200.31.
Bellway Plc gained 1.2% to 3,212 pence after the U.K.-based home builder forecasted housing revenues in the year ending in July to jump 13% from a year ago to £2.5 billion and volumes continue to soared 11% to 9,644 completions from 8,721 units in a year ago.
The operating margin is estimated to be flat and orders surged 16% to £1.3 billion, including reservations of £900 million compared to the £846 million.
The average home selling price jumped 2.9% to a record £260,000 from £252,793 in the same period a year ago.
Deutsche Post AG increased 1.3% to €34.60 after Germany-based postal and parcel services provider reported revenues in the first-half ending in June jumped 5.8% from a year ago to €29.7 billion.
Net income in the period advanced 4.7% to €1.23 billion from €1.18 billion in a year ago six-month period and diluted earnings per share rose to €1 from €0.94.
The postal services provider said as of June 30, net debt surged 58.1% to €3.6 billion from €2.3 billion in the same period a year ago.
Deutsche Post reaffirmed operating profit forecast in fiscal 2017 of about €3.75 billion and postal group also reaffirmed its operating profit estimate to jump more than 8%.
Pandora A/S tumbled 11% to 669.50 Danish kronor despite Denmark-based jewelry retailer reporting group revenues in the first-half ending in June soared 10% from a year ago to 9.98 billion kronor.
Net income in the period fell 2.8% to 2.46 billion kronor from 2.53 billion kronor in a year ago six-month period and diluted earnings per share slid to 21.9 kronor from 21.8 kronor.
The retailer said gross margin in the period slightly decreased to 73.6% from the 75% in a year ago period and comparable store sales in the period soared 10%.
Pandora reaffirmed full-year revenue estimate of about 23 billion kroner to 24 billion kroner and an operating profit of about 38%.
Separately the jeweler said it will pay €110 million to buy the distribution rights for its jewelry in Spain, Gibraltar and Andorra.
Paddy Power Betfair Plc, formerly Paddy Power Plc, the U.K.-based privately held betting services provider said revenues in the first-half ending in June soared 9% from a year ago to £827 million.
Net in the period swung to profit £86.4 million from a loss of £165 million in a year ago six-month period and diluted earnings per share swung to 1.02 pence from diluted loss per share of 0.68 pence.
Betting services provider said pretax profit in the period swung to £102.3 million from a loss of £45.9 million in a year ago period.
The Paddy Power forecasted fiscal 2017 operating profit between £445 million and £465 million.
Standard Life Plc fell 0.6% to 442.70 pence after the U.K.-based insurance and investment services provider reported total revenues in the first-half ending in June declined 3.9% from a year ago to £7.4 billion.
Net income in the period soared 29.2% to £292 million from £226 million in a year ago six-month period and diluted earnings per share jumped to 14.8 pence from 11.4 pence.
The insurer raised its interim dividend by 8.2% to 7 pence from 6.47 pence in a year earlier. Assets under administration increased 1% to £361.9 billion.
Standard Life said it plans to complete its £3.8 billion or $5 billion acquisition of Aberdeen Asset Management Plc on August 14.