Welcome Snackers, today’s snack will cover the market developments of Better Collective, NeoDynamics AB and DFDS.
Denmark:
OMX: C25 (0.00%)
Sweden:
OMX: S30 (-0.21%)
Norway:
OBX: OSL (+0.07%)
S&P 500 (-0.11%)
Nasdaq (+0.03%)
Markets today generally traded in the red. In Europe, inflation fears dominate. In the UK inflation rose 4.2% in October, against a rise of 3.1% in September and expectations of 3.9%. The data has nudged analysts expectations for an interest rate hike closer. In addition, gas prices rose on fears the continent may have insufficient gas supplies for the winter. Fears grew today following news on Tuesday that the German energy regulator has suspended the certification process for the Nord Stream 2 link.
In the US, inflation fears also took precedence. U.S. home construction slowed as housing starts hit lowest level in six months, suggesting homebuilders are struggling to break ground on projects given high materials prices. Additionally, Target reported its Q3 earnings today and reporting struggles keeping up with cost pressures. Investors have taken some risk off the table as the expectation of rate hikes moves forward.
Today’s snacks
Better Collective gained 15% today following the publication of its Q3 2021 earnings report this morning. The company’s performance was strong on several parameters, with impressive growth in the US a catalyst for the gains. Better Collective realised its best month ever in September, also keeping up well in October. Today’s report is a contrast to the company’s Q2 report which saw the stock price fall 12% after a large loss in the football European Championships saw earnings arrive below market expectations. The share price is now up 48% year-to-date.
NeoDynamics AB , a Swedish biotech firm, that develops a biopsy system, NioNavia, to enhance diagnosis and care of breast cancer patients, held an event today, where CEO, Anna Eriksrud, presented the Q3 2021 quarterly report. The company, announced a few weeks it has started a subsidiary in Germany to grow into the German and neighbouring markets. To hear more catch up on the event here: https://lnkd.in/dkDPFrjE
DFDS released its Q3 2021 earnings report earlier today resulting in a market reaction of -5.7%. The report highlighted mixed results. DFDS realised strong growth in its Mediterranean business area but faced a slowdown in the UK and general pressure related to rising costs caused by supply-chain bottlenecks – the market looked unfavourably on the latter. On Friday 19 November at 13.00 CET HC Andersen Capital will host a presentation, in English, with CEO Torben Carlsen who will take us through the numbers and latest highlights. Join here:
https://lnkd.in/epGdMNDf
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement.
Author: Philip Coombes
