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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Novartis    NOVN   CH0012005267


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European shares dip, Glencore slides to three-year low

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12/05/2019 | 12:10pm EST
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

Most European shares ended slightly lower on Thursday amid mixed signals on a U.S.-China "phase-one" trade deal, while a slide in Glencore shares on a bribery investigation tied in with a strong pound to push London's benchmark index to near two-month lows.

German shares also underperformed peers throughout the day after data showed industrial orders fell unexpectedly in October, suggesting a manufacturing downturn will continue to hold back growth in Europe's largest economy in the final quarter.

Stocks around the globe have been on a roller coaster ride this week as investors struggled to demystify messages from U.S. President Donald Trump on the trade war.

Trump's comments swung wildly with him saying talks with China were going "very well" at one meeting, while warning that the deal may come only after elections in November 2020 at another.

"Traders are have become a bit nervous again," said David Madden, an analyst with CMC Markets.

"You cannot be optimistic and bullish when there isn't clear positive news about this (U.S.-China trade)."

The increasing sensitivity to trade headlines comes as Dec. 15 closes in when a further set of U.S. tariffs on Chinese goods is set to take effect unless a deal is struck.

The pan-European STOXX 600 closed down 0.1% after a stellar rally on Wednesday, and was mainly dragged by a slump in commodity-linked stocks.

Glencore dropped 9% to its lowest since October 2016 after Britain's Serious Fraud Office launched an investigation concerning "suspicions of bribery," - the latest addition to the commodity trading giant's legal woes.

That, along with a pound that zoomed on growing confidence that next week's election will give the Conservative Party the parliamentary majority needed to deliver Brexit, pushed Britain's FTSE 0.7% lower.

Elsewhere, Moncler jumped 6.5% after Bloomberg reported that Gucci-owner Kering held "exploratory" talks about a potential deal with the Italian luxury puffer coat maker. The news also boosted its local peers Salvatore Ferragamo and Tod's.

Moncler's chief executive, however, played down the speculation saying there was no deal in the works.

The rally in luxury stocks come as a relief after pulling back on Tuesday when Washington threatened punitive duties of up to 100% on champagne, handbags and other imports from France.

Novartis was among the biggest boosts to the STOXX 600. The drugmaker's chief executive said the firm is planning more than 80 major submissions to regulators for drug approvals from 2020-2022.

By Susan Mathew

Stocks mentioned in the article
ChangeLast1st jan.
EURO STOXX 50 1.21% 3692.34 Delayed Quote.23.02%
GLENCORE 1.59% 220.35 Delayed Quote.-24.44%
KERING 1.69% 549.1 Real-time Quote.33.41%
MONCLER S.P.A. 2.03% 42.2 End-of-day quote.45.87%
NOVARTIS 0.93% 91.28 Delayed Quote.22.87%
SALVATORE FERRAGAMO S.P.A. 0.79% 19.07 End-of-day quote.8.01%
STOXX EUROPE 600 1.16% 407.35 Delayed Quote.20.64%
TOD'S S.P.A. 0.29% 41.9 End-of-day quote.1.50%
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Financials (USD)
Sales 2019 47 771 M
EBIT 2019 14 144 M
Net income 2019 9 247 M
Debt 2019 17 154 M
Yield 2019 3,21%
P/E ratio 2019 21,4x
P/E ratio 2020 21,5x
EV / Sales2019 4,72x
EV / Sales2020 4,47x
Capitalization 209 B
Duration : Period :
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Technical analysis trends NOVARTIS
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 97,60  $
Last Close Price 92,09  $
Spread / Highest target 29,3%
Spread / Average Target 5,98%
Spread / Lowest Target -12,8%
EPS Revisions
Vasant Narasimhan Chief Executive Officer
Hans Jörg Reinhardt Independent Non-Executive Chairman
Harry Werner Kirsch Chief Financial Officer
John Tsai Chief Medical Officer
Elizabeth Theophille Chief Technology & Digital Officer
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