Welcome Snackers, today’s snack will cover the market developments of DSV – Global Transport and Logistics, Idogen AB and Flügger group A/S.
Today’s Market Movements
Denmark:
OMX: C25 (+0.21%)
Sweden:
OMX: S30 (+0.60%)
Norway:
OBX:OSL (-0.06%)
S&P 500 (+0.28%)
Nasdaq (+0.24%)
European markets generally gained today boosted earnings season and by yesterday’s activity on Wall St, which saw the S&P 500 and Dow Jones indexes reach new all-time highs. At the same time, Tesla entered the trillion-dollar club as Elon Musk extended his lead as the world’s richest man; his net worth now exceeds USD 250bn.
The good mood on Wall St continued in the early hours of US trading today as data revealed US consumer confidence has risen ahead of the holiday season. The US also recorded record new home sales in September signalling strengths in the economy.
Today’s snacks
DSV – Global Transport and Logistics reported its Q3 2021 earnings this morning, but as the company had already revealed EBIT for Q3 and upgraded 2021 outlook a couple of weeks ago the share price reaction today has been limited. On the subsequent conference call with management, they highlighted that the current market disruptions and supply chain issues will most likely persist well into 2022. Today it was also announced that the management team will go from 2 to 3 as the current Group CFO will become COO and the deputy Group CFO will take on the position as Group CFO, and it will be interesting to see that will affect the company going forward.
Idogen AB hosted a Q3 reporting event with HC Andersen Capital today. The company revealed its most advanced project, ID08, is on track and set for its first clinical trial to commence in the second quarter of 2022 – unlike most drug projects, the very first clinical trial will be conducted on precisely those patients for whom the treatment is intended. The event will be posted on the HCA platform tomorrow where further details concerning other projects, grants and funding can be gained.
Flügger group A/S was impacted by reported earnings from US-listed peer, Sherwin-Williams. The company was impacted by rising raw materials costs and decreasing availability in Q3. Net sales rose by a modest 0.5% as a result. Sherwin-Williams did signal that strong demand for its products remains, however, it envisions raw materials issues remaining into 2022. Flügger is expected to report Q2 2021/22 on 15 December 2021 and it will be interesting to see to what degree how cost inflation and supply chain issues have affected the European markets.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement.
Author: Philip Coombes
