Caribbean Markets Index Value   Change +-% USD EURO GBP CAD
Bahamas BISX All Share Index1,827.47-0.02 0.00% 1.00 1.26 1.53 1.53
Barbados BSE 1000 Index656.560.00 0.00 1.98 2.13 2.82 1.37
Jamaica JSE Market Index156,273.84-4,573.60 -2.84% 120.31 112.32 172.13 80.51
Trinidad TTSE Composite1,164.821.15 0.10% 6.40 6.90 8.96 4.45


Caribbean Market Update

Bouygues Net Loss Narrows, Lloyds Back in Private Hands

Author: Sarla Buch
Islandjournal.net
Last Update: 9:45 AM ET May 17 2017


4:00 PM Frankfurt ABN AMRO net surged. Bouygues net loss narrowed on higher revenues. British Land net tumbled on declining property values. U.K. sells final tranche of stake in Lloyds Banking acquired in the financial crisis of 2008. Raiffeisen Bank reports improving loan impairment losses.

In London trading, FTSE 100 index fell 38.24 or 0.5% to 7,483.03 and in Frankfurt the DAX index slumped 162.02 or 1.3% to 12,641.34.

In Paris, CAC 40 index declined 85.36 or 1.6% to 5,321.15.

ABN AMRO Group NV declined 4.4% to 23.32 after the Netherlands-based banking and financial services provider reported net interest income in the first-quarter ending in March advanced 3% from a year ago to 1.6 billion.

Net profit in the quarter surged 30% from a year ago to 615 million from 475 million and diluted earnings per share declined to 0.67 from 0.34.

""We have been able to offset the low and negative rate environment and increase net interest income by growing all major loan books and lowering deposit rates. Fees were stable and other operating income was higher,"" chief executive officer Kees van Dijkhuizen said.

Bouygues SA fell 0.7% to 38.30 after France-based media and communication services provider reported revenues in the first-quarter ending in March jumped 5% from a year ago to 6.8 billion.

Net loss in the quarter narrowed from a year ago to 30 million from 137 million.

British Land Company Plc dropped 3.9% to 648 after the U.K.-based real estate developer said revenues in the year ending in March slid 0.2% from a year ago to 589 million.

Net income in the year tumbled 85.2% to 193 million from 1.3 billion a year ago and diluted earnings per share declined to 14.7 pence from 119.7 pence

The property developer said Brexit uncertainty to continue as companies draw up contingency plans.

Lloyds Banking Group Plc increased 1.8% to 71.41 after the U.K. government sold its remaining stakes in financial services provider. A decade ago the U.K. government was forced to bail out the bank with an injection of 20.3 billion or $26.2 billion during the financial crisis.

Raiffeisen Bank International AG gained 1.1% to 22.34 after Austria-based retail bank said revenues in the first-quarter ending in March jumped 4.7% from a year ago to 796 million.

Net income in the quarter doubled from a year ago to 220 million from 111 million and diluted earnings per share declined to 0.67 from 0.34.

The Austrian bank said general administrative expenses in the quarter increased 34 million to 815 million and net provisions for impairment losses declined 24% to 80 million from a year ago period.

The bank estimated net provision for impairment losses for 2017 are likely to be below 758 million in 2016 and non-performing loan ratio to decrease 0.3 percentage points to 8.3% by the end of 2017.

Ubisoft Entertainment SA slumped 3.6% to 38.30 after France-based video games publisher said revenues in the year ending in March increased 4.7% from a year ago to 1.5 billion.

Net income in the quarter soared 15.4% from a year ago to 107.8 million from 93.4 million and diluted earnings per share rose to 0.92 from 0.82.

The video games publisher forecasted fiscal 2018 revenues of 1.7 billion and operating profit of about 270 million.


  1