Europe stocks rise; Capgemini up, Pernod, BAE fall Last Update: 2/16/2011 10:10:17 PM MADRID (MarketWatch) -- European stocks opened higher on Thursday, as a flood of earnings news set some stocks in motion. Capgemini SA rose over 5% after results, while BAE Systems PLC fell 2.8% and Pernod Ricard SA lost nearly 3%. BNP Paribas SA fell 1.4% after its results. The Stoxx Europe 600 index rose 0.2% to 291.36, while the FTSE 100 index rose 0.2% to 6,095.68. The France CAC 40 index rose 0.1% to 4,155.41, while the German DAX 30 index rose 0.1% to 7,423.09.
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BNP Paribas profit rises 14% Last Update: 2/16/2011 9:28:13 PM LONDON (MarketWatch) -- French bank BNP Paribas SA said Thursday that its fourth-quarter net profit rose 14% to 1.55 billion euros ($2.11 billion) from 1.37 billion euros a year earlier. Revenue rose 2.6% to 10.32 billion euros and charges to cover bad debt dropped 39% to 1.16 billion euros. However, the impact of the lower bad debt charges was partly offset by a 534 million euro impairment charge on the bank's stake in insurer Axa SA , which often traded below its book value during the financial crisis. That charge and other one-off impacts resulted in net profit falling short of the 1.7 billion euro consensus forecast. France's largest bank also lifted its forecast for the cost savings and revenue benefits of its acquisition of parts of Belgium's Fortis. BNP lifted its target for synergies to 1.2 billion euros from 900 million euros and said restructuring costs would be 1.65 billion euros, compared to the previous forecast of 1.3 billion euros.
Food giant Nestle’s full-year profit triples Last Update: 2/16/2011 10:42:49 PM Nestle SA says full-year net profit tripled, helped by the sale of its eyecare business and increased sales in emerging markets and at its nutrition division. CH:NESN, CH:NOVN
Gold rises on Middle East unrest Last Update: 2/16/2011 9:21:37 PM Gold futures move higher as continued unrest in the Middle East adds to the metals’ perceived safe-haven appeal. GCJ11, DXY
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