S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

FDA Approves AstraZeneca Cancer Drug, Vopak Lowers Forecast


Author: Sarla Buch
ticker.com
Last Update: 12:22 PM ET August 18 2017

4:00 PM Frankfurt – AstraZeneca ovarian cancer drug won approval of the U.S. Geberit profit declined. GN Store Nord net plunged 21% but reaffirmed fiscal 2017 forecast. Heineken won a clearance to acquire Punch Taverns. NN Group profit surged 12%. Vopak lowered operating profit forecast.

In London trading, FTSE 100 index declined 83.60 or 1.1% to 7,304.27 and in Frankfurt the DAX index dropped 71.99 or 0.6% to 12,131.48.

In Paris, CAC 40 index slumped 61.21 or 1.2% to 5,085.64.

For the week, FTSE 100 index edged up 0.05%, the DAX index increased 0.9% and the CAC 40 index gained 0.5%.

AstraZeneca Plc slumped 3.8% to 4,429 pence after the U.S. Food & Drug Administration approved to sell Lynparza ovarian cancer drug in a new tablet form of AstraZeneca and Merck & Co and also agreed for two-tablets per day from the present dose of eight capsules.

Geberit AG slipped 0.8% to 447.70 Swiss francs after Switzerland-based sanitary and plumbing products provider reported net sales in the first-half ending in June fell 0.7% from a year ago to 1.5 billion francs.

Net income in the period declined 18.4% to 258.2 million francs from 316.3 million francs in a year ago six-month period and diluted earnings per share dropped to 7.01 francs from 8.58 francs.

Geberit said sales in sanitary segment jumped 6.7% and the piping business sales rose 2.1% but sales in sanitary ceramics business declined 3.5%.

GN Store Nord A/S advanced 2.3% to 205.40 Danish kronor after Denmark-based hearing aid maker said revenues in the first-half ending in June soared 16% from a year ago to 2.9 billion kronor.

Net profit in the period plunged 21.3% to 536 million kronor from 442 million kronor in a year ago six-month period and diluted earnings per share decreased to 3.80 kronor from 2.94 kronor.

GN Hearing reaffirmed fiscal 2017 organic growth forecast of more than 6% and operating margin more than 20%.

Heineken N.V fell 0.9% to €86.96 after the Netherlands-based brewing and beer seller received approval from the U.K.’s Competition and Markets Authority to acquire 1,900 pubs of U.K.-based Punch Taverns Plc.

The deal is estimated to complete by the end of this month.

NN Group NV decreased 0.9% to €34.70 after the Netherlands-based insurance and investment services provider reported total revenues in the first-half ending in June rose 1.2% to €8.6 billion.

Net profit in the period surged 11.6% to €676 million from €605 million in a year ago six-month period and diluted earnings per share jumped to €2 from €1.81.

The insurer’s operating profit in the period soared 29.4% to €810 million, following merger with Delta Lloyd.

Koninklijke Vopak N.V plummeted 8.2% to €37.97 after the Netherlands-based oil, gases and liquid chemicals storage services provider reported revenues in the first-half ending in June fell 1.5% to €669.3 million.

Net profit in the period tumbled 61.3% to €148.8 million from €384.6 million in a year ago six-month period and diluted earnings per share slumped to €1.17 from €3.01.

Vopak lowered fiscal 2017 operating profit in the range of 5% to 10% from the reported operating profit of €822 million in the same period a year ago after lower occupancy rates.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc