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