- DAX gains ahead of ECB decision
- Merck and Sartorius shares on an upward wave
Overall market situation:
Thursday's session on European stock markets brings gains for most stock indexes. Germany's DAX is currently up 0.7%. Britain's FTSE 100 is gaining more than 0.33% at the same time. The French CAC40, meanwhile, is up 1.2%. Investor attention today turns to corporate news and the ECB's interest rate decision.
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Germany's benchmark DE40 traded nearly 0.51% higher during Thursday's session and is back near historic highs. It seems that the key support/resistance points of the broad uptrend remain the 19,000-point zone, the 50-day EMA (blue curve on the chart) and the historical peak just broken out, which is now the main control zone for the supply and demand sides. Source: xStation
News:
Merck (MRK.DE) shares are gaining nearly 6% in today's session after a Phase 3 study of Merck's Capvaxive vaccine met primary and secondary immunogenicity targets. Moreover, the company raised the medium-term outlook for its electronics business ahead of Capital Markets Day. Sales growth for the electronics division was revised up to 5-9% from 3-6%, citing high demand for chips for artificial intelligence applications.
The upbeat sentiment on Merck was also due to sizable gains on Sartorius (SRT.DE) shares . The German laboratory equipment maker posted sequential order growth in its bioprocess solutions business, which analysts found reassuring.
NINE-MONTH RESULTS
- Adjusted EBITDA EUR 686.5 million, -6.4% y/y
- Sales €2.47 billion, -2.8% y/y
- Orders €2.33 billion, +5.7% y/y
- Adjusted EBITDA margin 27.7% vs. 28.8% y/y
ANNUAL FORECAST
- Company forecasts adjusted EBITDA margin 27% to 29%, estimated 28%
Nordea Bank (NDA.DK) gains after raising forecasts and unveiling share buyback plan. Nordea raised its 2024 return on equity forecast to more than 16%, having previously estimated a return on equity of more than 15%.
Nokia (NOKIA.FI) shares fell 5% after the 5G equipment maker lowered its full-year operating profit expectations, saying sales recovery is slower than expected.
Q3 RESULTS
- Adjusted operating profit €454 million, estimated €445.2 million
- Adjusted operating margin 10.5%, estimated 9.45%
- Adjusted gross margin 45.7%, estimated 42.8%
ANNUAL FORECAST
- Adjusted operating profit will be in the lower half of the range of €2.3 billion to €2.9 billion, estimated €2.35 billion
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
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