© Reuters Europe midday: Shares move into the green, as Ambu, BP please investors
Sharecast – The pan-regional index was up 03% at 1120 GMT with most major bourses turning green. reversed gains to turn red by midday.
In economic news, German industrial production fell more than expected in December, down 3.1% on the previous month, the federal statistical office said.
Analysts had forecast a fall 0.7% for the month. For full-year 2022 industrial production was 0.6% lower in calendar-adjusted terms year on year and down 5% from pre-Covid pandemic 2019.
In equity news, BP (LON:) gained almost 3% as it more than doubled annual profits to $27bn, lifted its dividend by 10% and announced a $2.75bn share buyback.
Ambu was up 12% after the Danish medical device company reported strong first-quarter revenue results. Sales increased organically by 4%, while reported growth for the quarter was 10%, according to Ambu’s interim report.
BNP Paribas (EPA:) shares fell as the lender posted lower-than-expected quarterly profits as a jump of its cost of risk and higher operating expenses offset a boom in its trading sales. The bank still raised its 2025 targets and announced a €5bn share buyback.
Ams-Osram slumped 21% after missing revenue forecasts and Nordic Semiconductor was off almost 18% as quarterly core profit estimates came in below expectations.
Reporting by Frank Prenesti for Sharecast.com
