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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Investment AB Latour (publ)    LATO B   SE0010100958

INVESTMENT AB LATOUR (PUBL)

(LATO B)
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European shares rise on oil gains, stimulus hopes

12/04/2020 | 12:30pm EST
The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) - Oil stocks lifted European shares on Friday, with London's blue-chip index hitting nine-month highs, while disappointing jobs growth in the United States strengthened hopes for a fiscal stimulus.

London's FTSE 100 rose 0.9% as crude prices gained after a compromise between OPEC+ members to continue to increase output slightly from January but continue the bulk of existing supply curbs. Europe's oil and gas index jumped 3.1% [O/R]

In the United States, data showed the economy added the fewest number of workers in six months in November, but markets quickly recovered as the report raised hopes of Congress pushing through a $908 billion aid package. [.N]

"Vaccines, the restart of talks about stimulus and the new (U.S.) administration, and a less confrontational international background, are still going to be the themes that drive the market," said Marvin Loh, senior global macro strategist at State Street Global Markets in Boston.

The pan-European STOXX 600 index rose 0.6%, helping it edge into positive territory for the week for - its fifth straight week in the black. Disappointing economic data and Brexit uncertainty had weighed on the index this week.

Progress on a post-Brexit trade deal still remained uncertain. European Union officials said a deal could finally be clinched this weekend, but London insisted that negotiations were still "very difficult".

Germany's DAX climbed 0.4%, but ended 0.3% lower on the week, having underperformed peers for most of the week. The index has risen about 60% from its March lows compared with nearly a 46% rise for the STOXX 600 over the same period.

Data on Friday showed German industrial orders rose more than expected on the month in October, raising hopes the manufacturing sector in Europe's biggest economy started the fourth quarter on a solid footing.

Basic material stocks rose 1.4% and were the biggest gainers this week, up 6.8% in its best weekly performance in six months, as copper and iron ore prices soared. [MET/L] [IRONORE/]

Sweden's Investment AB Latour dropped 12.7% and was the worst performer in the STOXX 600 after its majority shareholder trimmed its stake in the company.

All eyes will be on the European Central Bank meeting on Thursday when it is expected to keep its policy rate on hold, but increase bond-buying.

(Additional reporting by Herbert W Lash in New York; Editing by Shounak Dasgupta and Paul Simao)

By Susan Mathew


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DAX -1.44% 13787.73 Delayed Quote.0.50%
EURO / BRITISH POUND (EUR/GBP) 0.01% 0.88908 Delayed Quote.-0.60%
INVESTMENT AB LATOUR (PUBL) -0.57% 192 Delayed Quote.-3.86%
LONDON BRENT OIL 0.05% 54.92 Delayed Quote.9.17%
STOXX EUROPE 600 -1.01% 407.85 Delayed Quote.2.21%
WTI 0.09% 52.187 Delayed Quote.11.60%
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More news
Financials
Sales 2020 3 390 M 404 M 404 M
Net income 2020 - - -
Net cash 2020 8 601 M 1 026 M 1 026 M
P/E ratio 2020 -
Yield 2020 0,85%
Capitalization 123 B 14 661 M 14 641 M
EV / Sales 2020 33,7x
EV / Sales 2021
Nbr of Employees 6 209
Free-Float 18,7%
Chart INVESTMENT AB LATOUR (PUBL)
Duration : Period :
Investment AB Latour (publ) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends INVESTMENT AB LATOUR (PUBL)
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 3
Average target price 156,50 SEK
Last Close Price 192,00 SEK
Spread / Highest target -11,5%
Spread / Average Target -18,5%
Spread / Lowest Target -25,5%
Managers and Directors
NameTitle
Johan Carl Ulf Hjertonsson President, Chief Executive Officer & Director
Nils Olof Olle Nordström Chairman
Bo Anders Mörck CFO, Director & Head-Investor Relation
Carl Fredrik Wilhelm Douglas Independent Director
Anders Christer Böös Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
INVESTMENT AB LATOUR (PUBL)-3.86%14 661
HONEYWELL INTERNATIONAL INC.-3.16%144 526
SIEMENS AG1.92%115 735
GENERAL ELECTRIC COMPANY4.91%99 249
3M COMPANY-5.29%95 493
ILLINOIS TOOL WORKS INC.-0.34%64 314