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4:00 PM Frankfurt E.ON reported historic loss after write-downs linked to Uniper spinoff. U.K. government reduced its stake in Lloyds Banking to below 3%. H&M said sales in first-quarter jumped 8%. Hikma net tumbled 38%. Zodiac Aerospace plunged on weak sales and Safran bid.
In London trading, FTSE 100 index rose 13.04 or 0.2% to 7,371.04 and in Frankfurt the DAX index edged up 12.12 to 12,000.82.
In Paris, CAC 40 index gained 9.73 or 0.2% to 4,983.99.
E.ON SE slumped 2.9% to 6.81 after Germany-based energy solution provider said revenues in the year ending in December declined 11% from a year ago to 38.2 billion.
Net loss in the year widened to 8.5 billion from 7 billion in the year ago period and diluted loss per share increased to 4.33 from 3.60.
The Uniper spinoff and the funding of nuclear-waste storage left deep marks on our balance sheet,"" said chief executive officer Johannes Teyssen.
However, E.ON forecasted net income in fiscal 2017 in the range of 1.2 billion to 1.45 billion.
Lloyds Banking Group Plc gained 0.8% to 68.38 pence after the U.K. government reduced its stake in the financial services provider to below 3% and recovered £19.5 billion of the £20.3 billion bailout funds provided at the time of financial crisis in 2008.
U.K. Financial Investments Limited said it reduced its stake by 1% to 2.95% and now the bank is in position to be in private ownership within the next few months.
H&M Hennes & Mauritz AB plunged 4.7% to 234.90 Swedish kronor after Sweden-based branded fashion apparel retailer said sales in February increased 3% and in the first-quarter ending in February jumped 8% from a year ago to 47 billion kronor, far below the estimate.
Hikma Pharmaceuticals Plc soared 7.3% to 2,280.61 pence after the U.K.-based generic pharmaceutical products maker said revenues in the year ending in December jumped 35% from a year ago to $1.9 billion.
Net income in the quarter tumbled 38% from a year ago to $155 million from $252 million and diluted earnings per share dropped to 66.2 cents from 125.4 cents per share in the same quarter last year.
Hikma said profit declined due to loss in the generic drugs division as it sold off the products and acquired the U.S.-based business West-Ward Columbus in February 2016.
Hikma forecasted injectables revenue in fiscal 2017 may achieve $2.2 billion and in the range of $800 million to $825 million and revenue in generics products of about $800 million.
Safran SA fell 0.7% to 67.92 after France-based aircraft and rocket engines and propulsion systems supplier confirmed its strategic interest in the acquisition of domestic aircraft seats maker Zodiac Aerospace.
On March 13, Safran said syndication of 4 billion bridge loan facility was closed on March 6 after the company entered into exclusive negotiation talks with Zodiac Aerospace.
STADA Arzneimittel AG slipped 0.6% to 57.38 after Reuter reported two private equity consortia made binding takeover offers to Germany-based healthcare and pharmaceutical products maker for 4.7 billion or £4.01 billion including debt.
Zodiac Aerospace SA tumbled 15.7% to 23.16 after France-based aeronautical seats maker said group revenues in the first-half ending in December declined 1.8% from a year ago to 2.4 billion and aircraft interiors activities fell 3.7% to 1.4 billion
The aeronautical seats maker revised lowered operating profit estimate in the full-year to drop 10% from the previous guidance of an increase of as much as 20% but the company guided stable revenues in fiscal 2017.