European Movers: Alcatel-Lucent, Siemens, Novo Nordisk

Plus more European stocks making headlines in Wednesday's market

by S&P MarketScope Europe Staff

UK

ANTOFAGASTA Up GBP0.20 to GBP8.03... 1Q payable copper shipments fall - Co. says 1Q copper production was 114,600 tonnes, +7.1%; cash costs US$0.722/pound compared vs US$0.316/pound in FY07. Adds molybdenum production at Los Pelambres was 1,800 tonnes, below 2007 quarterly average but in line with YTD forecast. Says shipments of payable copper were 65,800 tonnes, 13,300 tonnes lower than production.

BG PLC Down GBP0.76 to GBP12.32... 1Q profit surges on high oil price, LNG show - Posts 1Q net profit of GBP789m, +76% on increased production, higher commodity prices and strong LNG performance. Adds total operating profit GBP1.402bn, +70%; E&P operating profit GBP942m; LNG operating profit GBP395m; EPS 23.6p, +80%; production volume 60.7m boe, +4%. Analysts had forecast net income GBP685m, operating profit GBP1.171bn and EPS of 19.4p. Co. says has approached Australia's Origin Energy Limited with a AUD14.70/share cash offer. Adds Origin has not yet considered the proposal.

BSKYB Up GBP0.04 to GBP5.45... 3Q in line, will take a look at Tiscali - Co. posts 3Q net customer growth of 56,000; churn 10.5%; new customer additions 289,000; revenue GBP3.706bn, +10%. Adds 9M adjusted op profit GBP521m; 9M adjusted EPS 17.0p; ARPU GBP424. Says revenue growth of 10%, increased quarterly profitability and reducing broadband losses put Co. on track to achieve targets. Analysts had forecast 3Q revenues of GBP1.260bn; net customers 60,000; churn 10.9% new customer additions 305,000; 9M revenue of GBP3.72bn and 9M adj op profit of GBP518m. Also, Co. will take a look at Tiscali, CEO Jeremy Darroch has told Reuters.

HOME RETAIL Up GBP0.21 to GBP2.64... FY results in line - Co. reports FY sales of GBP5.985bn, +2.3%; Argos LFL +0.7%; Homebase -4.1%. Says gross margin at Argos rose some 50bp; Homebase up 250bp. Says benchmark op profit was GBP398m, +11%; reported op profit GBP387m; benchmark PTP GBP433m, +15%(reported GBP426m); benchmark EPS 33.9p, +16%. Declares final div of 10p. Says we head into a weakening consumer environment.

KAZAKHMYS Down GBP0.66 to GBP15.82... 1Q copper cathode output down 18.43% - Posts 1Q copper cathode output 84,100 tonnes, -18.43% y/y; Ore output at 8.3m tonnes, +7% q/q; Zinc in concentrate output +6% q/q; gold production was -2% q/q. Says outlook for production in 2008 remains in line with the guidance given at the time of FY07 results.

ADMIRAL Up GBP0.51 to GBP8.71... Citigroup upgrades to buy from hold, target GBP10.50. Highlights management's intention to 'deliver another record year, at least in line with market consensus' points to GBP194m for 2008. In addition, thinks Co. is growing throught the gloom, noting that by year-end, Co. will have entered three new markets.

VEDANTA Down GBP1.09 to GBP22.41... Merrill Lynch removes from Europe 1 list.

FRANCE

ALCATEL-LUCENT Down EUR 0.16 to EUR 4.33... Trims guidance after quarterly loss - Co. reported a 1Q net loss of EUR 181m and downgraded its guidance by saying it sees the market in 2008 to be flat rather than slightly up to flat, as previously forecast.

ALSTOM Up EUR 3.25 to EUR 149.00... Areva stake talk / JP Morgan lifts target - Co. could yet be inline for a stake in French state-owned nuclear group Areva, Reuters reports citing a source close to discussions on the matter in Tunisia accompanying President Nicolas Sarkozy. Co. CEO Patrick Kron has talked openly of his interest, though Areva's CEO Anne Lauvergeon has been equally candid in opposing any such move. JP Morgan ups target to EUR 167 from EUR 160, keeps neutral. Argues Co. is an attractive growth story but that unless results trigger material earnings upgrades, near term upside may be limited due to its valuation on 13x est. FY09 EV/EBITA.

PERNOD RICARD Up EUR 0.47 to EUR 74.00... 3Q sales miss consensus estimates - Reports 3Q sales of EUR 1.378bn, -1%, (+7.1% organic). Says 9M sales rose to EUR 5.091bn, +9.3% organic. Confirms FY08 guidance for LFL growth in operating profit from ordinary activities of at least 12%.