Welcome Snackers, today’s snack will cover the market developments of Copyright Agent, Boozt, Idogen AB and ExpreS2ion Biotechnologies.
Today’s Market Movements
Denmark:
OMX:C25 (-1.76%)
Sweden:
OMX:S30 (-0.93%)
Norway:
OBX:OSL (+0.53%)
S&P 500 (-1.74%)
Nasdaq (-2.31%)
Today’s European markets continued in a similar style to last week – major indexes declined again. Today’s move was driven by continued oil price inflation. Opec and its allies held a highly anticipated meeting today deciding they would not accelerate planned supply increases to dampen soaring prices. As a result, the price of Brent Crude increased 2.5% to its highest price in 3-years – price per barrel is USD 81.80. Stagflation fears from last week persist. Much remains uncertain concerning the Federal Reserve’s tapering. Markets are fearing inflation in an interest rate hike environment.
Elsewhere the Evergrande crisis remains prominent; investors are seemingly betting the Chinese property giant will be bailed out by Chinese authorities as trading volumes in Evergrande bonds have skyrocketed since the company failed to meet a dollar-bond payment on 26 September.
Today’s snacks
Copyright Agent came with news of a new customer today, Press Photo. The market rewarded the company with a share price gain of 5.7% at market close.
Boozt came with news in what was generally a negative day for markets. Major shareholder BLS Capital Fondsmaeglerselskab A/S have as of 28 September increased its ownership from 10.08% to 15.11%. Through accounts managed on a discretionary basis BLS Capital Fondsmaeglerselskab A/S, now own around 10 million shares. Since its last reported ownership of 6.46 million shares on 23 February that represents an increase of over 3.5 million shares. Boozt only fell 0.2% today against a C25 average of 1.8%.
Idogen AB a Swedish biotech firm that operates in the immunotherapy sector saw its subscription period for TO4 warrants end on Friday. Markets reacted today and the stock opened up over 16%. In what was a difficult day for the biotech sector Idogen closed with a gain of 1.4%.
ExpreS2ion Biotechnologies Biotech continued to be affected by Friday’s news from US company Merk’s news of an effective treatment for Covid-19. Merk’s treatment has been shown to halve the risk of people experiencing serious illness or death and has been shown to be so effective Merk stopped its FDA trial for the sake of patients receiving a placebo. As a result, vaccine manufacturers have been hard hit. Whether the treatment will affect the rollout of vaccines is yet to be seen, however, it could offer policymakers an interesting alternative. Expres2ion Biotech closed the day down 7.6%.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement.
#DigitalIR#DemocraticIR#SustainableIR#markets#LateSnack
Author: Philip Coombes
