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GETI B - Getinge AB News Story

SEK192.5 7.1  3.8%

Last Trade - 25/09/20

Large Cap
Market Cap £4.51bn
Enterprise Value £5.19bn
Revenue £2.39bn
Position in Universe 129th / 1783

LIVE MARKETS-Opening snapshot: Heineken, a bitter Q2 aftertaste

Thu 16th July, 2020 8:42am
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts Joice Alves ( and Julien Ponthus ( in London and Stefano Rebaudo ( in Milan. OPENING SNAPSHOT: HEINEKEN, A BITTER Q2 AFTERTASTE (0742 GMT) European stocks opened down and are now falling 0.8% with an unscheduled trading update from Heineken giving a bitter aftertaste to the beginning of the Q2 earnings season. The Dutch brewer lost over 5% after announcing first-half net revenue fell 16.4% as the impact of coronavirus-related lockdowns intensified in the second quarter. No sign of a dynamic V-shaped recovery here even if the end of the quarter saw some improvement: "After a low point in April, volume started to gradually recover into June as lockdowns were lifted around the world and customers restored depleted inventories". Anyhow, the tone ain't particularly merry with another big name, luxury goods group Richemont giving no sign of a V-shaped recovery - actually no outlook at all - and reporting "unprecedented levels of disruption" from the COVID-19 pandemic. Not that Getinge won't cheer up the mood that much: the Swedish medical equipment maker is up about 4% but that's on a jump in core profit due to high demand for...ventilators. Another group in the healthcare space jumped: Germany's Sartorius which raised its forecast for the year. Among other big losers, there's Ladbrokes owner GVC down 6.5% after announcing that Kenneth Alexander will step down as chief executive officer after 13 years at the helm. (Julien Ponthus) ***** ON THE RADAR: ANOTHER EARLY BATCH OF Q2 EARNINGS (0636 GMT) European shares are seen opening in the red as risk appetite took a hit by concerns about deteriorating U.S.-China relations. Investors also have to digest a slew of earnings reports, which show the size of lockdowns damage. France's Alstom reports a 27% slump in Q1 sales while Richemont Q1 sales nearly halve after COVID-19 disruption. Richemont shares are down 4% in pre-market trading.*:nL5N2EM5W8*:nS8N2EE017 On a brighter note, Norway's Telenor Q2 earnings beat estimates and the company said it expects a single-digit decline in its subscription and traffic revenues this year. Experian first-quarter revenue falls less than feared.*:nL5N2EM20Z*:nL3N2EN1RG Germany's Zalando shares are up almost 5% in pre market after the online fashion retailer raised full year guidance as more people shop online.*:nASN0009DJ Global miner Anglo sticks to most of its 2020 output targets but Q2 hit by COVID-19.*:nFWN2EM174 Swedish medical equipment maker Getinge GETIb.ST also reported a jump in core profit and order intake in the second quarter as demand for ventilators and other life support equipment surged.*:nL5N2EM56N More news about COVID-19 treatment and vaccine: Early-stage human trial data on a vaccine being developed by AstraZeneca AZN.L and Oxford University will be published on July 20, The Lancet medical journal said. Novartis's Sandoz division NOVN.S says will not make a profit on 15 generic drugs it is making available to developing countries to treat symptoms of COVID-19, the Swiss drugmaker said on Thursday.*:nL5N2EM3E1*:nL5N2EM5TS (Joice Alves) ***** MORNING CALL: U.S.-CHINA TENSIONS HIT ONE MORE TIME (0540 GMT) European shares are seen opening in the red as risk appetite weakened by growing concerns about deteriorating U.S.-China relations. Worries about a dispute between the world's two largest economies over the control of advanced technologies and the protection of civil liberties in Hong Kong pushed Asian stocks and U.S. futures down.*:nL2N2EM1B9*:nL2N2EM2RN Even news that China's economy rebounded more than hoped in the second quarter from a record slump was not enough to cheer investors up. A surge in coronavirus cases, which is prompting some governments to reimpose containment measures, is also not helping sentiment. After touching a one-month highs yesterday on vaccine hopes, European markets are set to follow Asia lower. Investors will also have to digest a slew of earnings, which will show the size of lockdowns damage. Financial spreadbetters at IG expect London's FTSE to open 20 points lower at 6,273, Frankfurt's DAX to open 97 points lower at 12,834 and Paris' CAC to open 26 points lower at 5,083. (Joice Alves) ***** <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ sdfq ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
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