Welcome Snackers, today’s snack will cover the market developments of Denmark’s SaaS sector, look at trends in the BioTech sector and cover news relating to GreenMobility A/S.
Today’s Market Movements
Denmark: OMX:C25 (-0.91%)
Sweden:
OMX:S30 (-0.11%)
Norway:
OBX:OSL (-1.01%)
S&P 500 (-0.24%)
Nasdaq (0.08%)
Today’s European markets were relatively uneventful with the general move being slightly to the downside. The major story today was from the US where markets initially opened higher on the news Biden was in conversation with Xi Jinping, for the first time in 7 months. However, Bloomberg News revealed Biden is considering launching an investigation into Chinese subsidies believed to harm the U.S. economy as a measure to pressure Beijing on Trade. It is thought Biden wishes to enter new trade negotiations seeking to amend the January 2020 deal signed by Trump. US markets are down slightly at time of writing.
Today’s snacks
Denmark’s Saas sector is the highlight of today’s Late Snack having generally a strong week with its biggest gainers being Penneo A/S (+28%), MapsPeople (+20%) and OrderYOYO (+34%). Penneo’s rise was driven by an initiating coverage report from ABG Sundal Collier that suggested the stock price could increase 76%; MapsPeople gained momentum after a positive Q2 earnings report and OrderYOYO was buoyed by news of insider buying and international interest. The SaaS sector was the primary topic covered in today’s Aktier med Friis – uge 36. The episode discussed not just the three big movers but also analysed the Danish SaaS sector compared the SaaS sector in the US. If you missed it you can watch the event here: https://lnkd.in/dyRyBwNQ. HC Andersen Capital is the event partner for the SaaSiest event of the year next week, hosted by SaaS Nordic. Tickets are still available at www.saasiest.com and will include networking opportunities.
Today there was news in the BioTech sector of French pharma giant Sanofi announcing its acquisition of the US biotech company Kadmon for USD 1.9bn. The acquisition highlights the current positive mood towards the biotech sector which has recently caught up with the global stock market, having previously lagged behind. There is suggestion that big pharma giants are seeking to expand their product portfolios by buying up smaller biotech firms. GreenMobility A/S announced a capital increase last week with pre-emption rights for existing shareholders but guaranteed by several large Danish investors. Today GreenMobility’ VP of investor relations held a webinar with HC Andersen Capital where he touched on the purpose of the capital increase and elaborated on the more technical details and timetable of the process.
Link: https://lnkd.in/g669DsAY
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement.
Author: Philip Coombes
