Tecan's guidance cut dents peers Sartorius, Stedim Biotech shares

Sartorius AG

13/08/2024 11:24

** Shares in French biotechnology firm Sartorius Stedim
 STDM.PA  and its German parent Sartorius  SATG.DE  fall more
than 4%, after Swiss peer Tecan  TECN.S  cut FY guidance citing
weak demand 
    ** The fall is due to Swiss medical technology company
Tecan's  TECN.S  weak H1 results that missed expectations, and
its downgraded full-year outlook, an analyst says 
    ** Tecan, which is down 17% and heading for its worst day
since 1992, points to weak demand and a slower market recovery
    ** Sartorius Stedim is at the bottom of France's SBF 120
index  .SBF120 

 (Reporting by Charlotte Bawol)
 ((Charlotte.bawol@thomsonreuters.com))