Welcome Snackers, today’s snack will cover the market developments of H+H International A/S and OrderYOYO.
Today’s Market Movements
Denmark:
OMX:C25 (0.6%)
Sweden:
OMX:S30 (0.16%)
Norway:
OBX:OSL (-0.07%)
S&P 500 (-0.19%)
Nasdaq (0.1%)
Today’s European markets reacted to the news of US inflation. US consumer prices rose 0.3% in August compared to July and 5.3% compared to August 2020. It was expected to be 0.4% and 5.4% respectively. The annual rate of increase is marginally lower than in July. The move is driven by housing, food and energy. By excluding food and energy, the increase was 0.1% in August compared to July and 4.0% compared to July. Markets reacted favourably to this news knowing inflation figures are highly important for the Fed in planning economic policy. A slow down in the rate of inflation supports Chairman Powell’s narrative that the above target of inflation is a temporary phenomenon caused by pandemic related supply chain issues. Several members of the central bank say that monetary policy may be tightening in the autumn. This is likely to come as a reduction in bond purchases. We’re expecting an announcement in November.
Today’s snacks
H+H International A/S today announced the acquisition of an aircrete (AAC) factory in South Germany thereby establishing full coverage of the German AAC market. H+H purchased the factory from Greisel Vertrieb GmbH, which is located in Feuchtwangen, Bavaria. The purchase is a strategic move that brings H+H’s total factory numbers to 30. The acquisition will expand our AAC market share by 2-3%-points equivalent to 1-2%-points of the combined white stone market in Germany. Read the press release here: https://lnkd.in/e-3JRekJ
OrderYOYO saw its share price fall 9.7% today in a market correction which follows a very strong month of growth. The SaaS company, who provides software solutions for restaurants, has gains of 79% in the last 30 days.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement.
Author: Philip Coombes
