Precious metals miner Fresnillo Plc. posted a sharp decline in its first-half profit, reflecting higher expenses and lower commodity prices. Revenues were boosted by strong production of gold and silver. Looking ahead, Chief Executive Officer Octavio Alvídrez said, "We continue to advance development rates at Fresnillo, which should result in increased production by the year end..."
The U.K. manufacturing sector growth improved in July but new order growth eased to a 10-month low, casting concerns over the sustainability of future momentum. The Markit/Chartered Institute of Procurement & Supply Purchasing Managers' Index rose to 51.9 in July from a 26-month low of 51.4 in June, data from Markit revealed Monday. It was forecast to rise marginally to 51.5.
Asia-focused lender HSBC Holdings Plc. (HSBA.L, HSBC) Monday reported a 10 percent increase in its profit before tax for the first half of the year. HSBC also said that on July 31 it agreed to sell its Brazil business to Banco Bradesco S.A. for $5.2 billion.
British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast.
UK-based energy firm BG Group Plc., which is being acquired by Royal Dutch Shell Plc., reported Friday higher profit in its second quarter, benefited by a significant one-time gain. Meanwhile, business performance EBITDA, a key earnings metric, and revenues plunged from last year mainly reflecting lower commodity prices, despite higher volumes.
International Consolidated Airlines Group S.A., formed by the merger of British Airways plc and Spanish flag carrier Iberia Lineas Aereas de Espana S.A., reported Friday that profit for the second quarter increased from last year, reflecting double-digit passenger revenue growth.
Steel and mining company ArcelorMittal reported Friday increased net profit for the second quarter reflecting lower foreign exchange and other net financing loss. However, earnings before interest, tax, depreciation and amortization or EBITDA, a key metric for the steel company, declined year-over-year. Looking forward, the company reaffirmed its EBITDA guidance for the full-year 2015.