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2 hours ago
Stocks are rising: Fdj up 5%, Verimo down 7%
French lottery operator La Française des Jeux has jumped 5% in early trading on Monday to the top of the Stoxx 600 index after it was confirmed that it would acquire Swedish gambling company Kindred for $2.7 billion. .
Meanwhile, shares in Swiss heating and ventilation business Verimo fell 6.6% after 2023 sales fell short of expectations.
Finnish IT company Tietoevli also fell 1.8% after reporting that some Swedish companies had been shut down following a ransomware attack.
— Karen Gilchrist
10 hours ago
CNBC Pro: These 4 anti-obesity drug stocks could skyrocket, says Berenberg – 1 stock has 44% upside potential
The anti-obesity drug market is expected to remain in focus this year after a bumper 2023 for weight-loss drug makers Novo Nordisk and Eli Lilly, Berenberg said.
The Germany-based investment bank expects the combination of new clinical data and the expiry of Novo’s patent on the active ingredient in a first-generation GLP-1 drug to create new opportunities for several European generic drug makers. There is. GLP-1 drugs stimulate the production of a hormone that causes weight loss due to decreased appetite.
Berenberg analysts named four generic drug companies that would benefit from these patent expirations.
CNBC Pro subscribers can read more here.
— Ganesh Rao
10 hours ago
CNBC Pro: Morgan Stanley names biopharma favorites as “strong against macro uncertainty,” giving them 119% upside potential.
The biopharmaceutical sector is expected to provide a safe haven from macroeconomic and earnings concerns ahead of European companies’ quarterly results, according to Morgan Stanley.
The Wall Street bank said European biopharma stocks should be sustained in the short term due to “demanding valuations, a challenging macro environment and a backdrop of cyclical earnings risks.”
The investment bank gave eight stocks in the sector a buy rating, giving one stock 119% upside potential. CNBC Pro subscribers can read more here.
— Ganesh Rao
5 hours ago
European Market: Click here for opening call
European markets are set to open in positive territory on Monday.
According to IG data, the UK’s FTSE 100 index rose 26 points to 7,488, Germany’s DAX rose 131 points to 16,680, France’s CAC rose 59 points to 7,427 and Italy’s FTSE MIB rose 264 points. It is expected to start at 30,592.
Preliminary figures for euro area consumer confidence statistics for January are scheduled to be released.
— Holly Ellyatt
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