Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Switzerland
  4. Swiss Exchange
  5. Nestlé S.A.
  6. News
  7. Summary
    NESN   CH0038863350


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

European stocks fall as healthcare, construction sectors drag

10/21/2020 | 04:52am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* STOXX 600 down 1.3%, at lowest in more than two weeks

* Ericsson, Vivendi boost STOXX 600

* Centamin slides after production update

Oct 21 (Reuters) - European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson.

The pan-European STOXX 600 fell 1.3% to close at its lowest in more than two weeks.

Losses were broad-based with only the basic material sector in the green, supported by rising copper prices.

Nestle lifted its 2020 sales forecast following a quarterly beat, but shares inched lower after early gains.

Sweden's Ericsson jumped 9.6% as higher margins and China's 5G rollout helped the company beat quarterly core earnings estimates.

"Earnings have been generally well above expectations, and guidance has been a positive surprise," said Patrick Moonen, principal strategist in the multi-asset team at NN Investment Partners.

"But there are other elements that are currently at play and may have a bigger impact on the market performance than earnings," he said, pointing to many European countries reimposing mobility restrictions following a surge in COVID-19 cases that could weigh on fourth-quarter economic activity.

The STOXX 600 has struggled to break out of a trading range since June, when it recouped a large part of the early pandemic-driven losses. The benchmark is still about 16% below its all-time high.

Capital Economics expects the new containment measures to cause the euro-zone economy to stagnate over the next six months, resulting in only a slight increase in GDP on a quarter-on-quarter basis in the fourth quarter and zero growth in the first quarter of next year.

London's exporter-heavy FTSE 100 underperformed, marking its worst session in a month, hit by a surge in pound after bullish Brexit comments.

Vivendi rose 1.6% after the French media group reported a bigger-than-expected quarterly sales and unveiled plans to list its most-prized asset, Universal Music Group, in 2022.

Third-quarter profits for companies on the STOXX 600 are expected to drop 34.8%, according to Refinitiv data, a slight improvement from the 36.7% predicted at the start of the earnings season.

Of the 29 companies that reported so far, 75.9% have topped earnings expectations.

Gold miner Centamin Plc slumped 19% to the bottom of STOXX 600 after cutting its 2020 production forecast.

Construction companies also took a knocking, with Assa Abloy , the world's biggest lockmaker, falling 4.1% after it reported a drop in quarterly sales. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila and Lisa Shumaker)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASSA ABLOY AB 1.36% 268.2 Delayed Quote.30.67%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.03% 0.63477 Delayed Quote.0.46%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.23% 0.679708 Delayed Quote.5.73%
CENTAMIN PLC -0.23% 106.4 Delayed Quote.-13.58%
ERICSSON AB 0.47% 106.5 Delayed Quote.8.56%
EURO / BRITISH POUND (EUR/GBP) 0.41% 0.85782 Delayed Quote.-4.22%
FTSE 100 0.51% 7109.97 Delayed Quote.9.50%
MSCI UNITED KINGDOM (STRD) 0.18% 1156.699 Real-time Quote.11.99%
NESTLÉ S.A. 0.29% 116 Delayed Quote.10.93%
S&P UNITED KINGDOM (PDS) 0.42% 1415.04 Delayed Quote.10.03%
STOXX EUROPE 600 0.87% 457.04 Delayed Quote.13.55%
VIVENDI SE 0.71% 28.19 Real-time Quote.6.10%
All news about NESTLÉ S.A.
08:31aNESTLE S A  : AlphaValue/Baader Europe Lowers Price Target on Nestle, Maintains ..
06/23NESTLE S A  : Nespresso not raising coffee prices yet, sees slow demand from off..
06/22NESTLE S A  : unit to open second meal hub in Georgia, hiring 665
06/22It's time to invest vegan
06/22NESTLE S A  : Nestlé moves beyond forest protection to a forest positive strateg..
06/22NESTLE S A  : Nestlé Adopts Forest Positive Strategy Under 2050 Net Zero Goal
06/18EUROPEAN MIDDAY BRIEFING  : Stocks Slip as -2-
06/18NESTLE  : Barclays keeps its Buy rating
06/18EMEA MORNING BRIEFING  : Cautious Post-Fed Action to Hold Back Shares
06/17NESTLE S A  : U.S. Supreme Court rules for Nestle, Cargill over slavery lawsuit
More news
Sales 2021 85 627 M 93 218 M 93 218 M
Net income 2021 12 007 M 13 071 M 13 071 M
Net Debt 2021 33 090 M 36 023 M 36 023 M
P/E ratio 2021 27,0x
Yield 2021 2,46%
Capitalization 326 B 355 B 355 B
EV / Sales 2021 4,19x
EV / Sales 2022 4,06x
Nbr of Employees 273 000
Free-Float 97,7%
Duration : Period :
Nestlé S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NESTLÉ S.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 115,66 CHF
Average target price 118,73 CHF
Spread / Average Target 2,65%
EPS Revisions
Managers and Directors
Ulf Mark Schneider Chief Executive Officer & Director
François-Xavier Michel Marie Roger Chief Financial Officer & Executive Vice President
Paul Bulcke Chairman
Stefan Palzer Chief Technology Officer & Executive VP
Magdi Batato Head-Operations & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
NESTLÉ S.A.10.93%355 139
DANONE6.03%44 310
GENERAL MILLS, INC.0.70%36 116