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4:00 PM Frankfurt – ABN AMRO profit declined on higher impairments charges. E.ON net plunged after weak energy networks business. Munich Re profit surged 21%. Prudential net declined but profit in the Asia surged.
In London trading, FTSE 100 index decreased 41.52 or 0.5% to 7,760.24 and in Frankfurt the DAX index fell 35.63 or 0.3% to 12,612.56.
In Paris, CAC 40 index slipped 20.58 or 0.4% to 5,500.73.
ABN AMRO Group NV soared 3.4% to €24.13 after the Netherlands-based banking and financial services provider reported interest income in the first-half ending in June dropped 2.5% from a year ago to €10.1 billion.
Net profit in the period declined 17.9% to €1.3 billion from €1.6 billion in the same period a year ago and diluted earnings per share decreased to €1.30 from €1.64.
The bank booked impairment charges on financial instruments of about €314 million.
E.ON SE dropped 2.6% to €9.43 after Germany-based electric utility service provider said sales in the first-half ending in June tumbled 13% from a year ago to €17 billion.
Net profit in the period plunged 30% to €2.7 billion from €3.9 billion in the same period a year ago and diluted earnings per share slumped to €1.25 from €1.85.
Revenues in the energy networks business declined 30% to €6.1 billion from €8.6 billion in the same period a year ago, driven by netting effects in Germany and the Czech Republic.
The utility provider said as of June 30 it had reduced its net debt by 18% to €15.9 billion.
E.ON forecasted fiscal 2018 operating profit between €2.8 billion and €3 billion and net income in the range of €1.3 billion to €1.5 billion.
Munich Re slumped 2.6% to €182.85 after Germany-based reinsurance services provider reported gross premiums written in the first-half ending in June fell 1.7% from a year ago to €24.3 billion.
Net profit in the period surged 20.5% to €1.6 billion from €1.3 billion in the same period a year ago and diluted earnings per share jumped to €10.34 from €8.26.
The reinsurer forecasted fiscal 2018 gross premiums written between €46 billion and €49 billion and profit in the range of €2.1 billion to €2.5 billion.
Prudential Plc jumped 2.6% to 1,802.50 pence after the life insurance and financial services provider said gross premiums written in the first-half ending in June dropped 3.6% from a year ago to £21.3 billion.
Net income in the period declined 9.9% to £1.4 billion from £1.5 billion in a year ago period and diluted earnings per share slipped to 52.6 pence from 58.6 pence.
The insurer said new business profit in Asia surged 11% to £1.1 billion.