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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Roche Holding AG    ROG   CH0012032048


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European shares sink on lockdown concerns as virus cases surge

10/15/2020 | 04:08am EST

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

* France imposes curfew, other European nations shut schools

* Autos, energy, insurance sectors shed more than 2%

* Traders await Brexit update as EU summit begins

* Ryanair slides on plans to cut winter capacity

Oct 15 (Reuters) - European shares sank on Thursday as a resurgence in COVID-19 cases across the continent and fading hopes for more U.S. fiscal stimulus before the presidential election dented demand for equities globally.

The pan-European STOXX 600 index fell 2.1% in its worst day in more than three weeks, with autos, insurance and energy stocks tumbling more than 2%.

Bank shares tracked a decline in bond yields, shrugging off signs of a pickup in M&A activity after a report said Italy's Banco BPM and France's Credit Agricole had signed a confidentiality agreement in a first step towards formal talks over a possible merger.

"Investors are unnerved by what's going on with COVID-19 and how that is negatively impacting jobs and the ability for many businesses to succeed," said Russ Mould, investment director at AJ Bell.

"It's becoming more apparent that the pandemic could still be raging well into 2021 and so economic prospects have become even more clouded."

European stock markets bounced from the coronavirus lows hit in March on a raft of global stimulus, but sentiment has recently taken a hit from the surge in infections as well as signs of a slowing economic rebound.

France has imposed curfews and other European nations are closing schools and cancelling surgeries in an attempt to contain the resurgence ahead of the winter season.

Bourses in France, Italy, Spain and Germany fell between 1.4% and 2.8%.

The UK's FTSE 100 was down 1.7% as the government imposed tighter restrictions in London, while investors looked for signs of progress towards a Brexit trade deal at the two-day European Union summit that began on Thursday.

EU leaders said agreeing a "fair" new partnership with Britain was "worth every effort" but that the bloc would not compromise at any cost and was ready for an abrupt split in trade worth a trillion euros every year.

"It's not in anyone's interest if the UK leaves the EU without a deal and markets are so far leaning towards an 11th-hour Brexit agreement," said Hussein Sayed, a market strategist at FXTM.

In company news, Swiss drugmaker Roche shed 3.5% even as it posted record revenue in its diagnostics division that offset declining drug sales and kept it on track to meet its full-year 2020 targets.

Ryanair fell 4.3% as it said it would cut its planned winter capacity by a third due to the wave of travel restrictions imposed by European governments. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Subhranshu Sahu and Arun Koyyur and Kirsten Donovan)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANCO BPM S.P.A. 0.85% 1.845 Delayed Quote.-9.76%
CRÉDIT AGRICOLE SA 0.92% 10.465 Real-time Quote.-19.73%
EURO / BRITISH POUND (EUR/GBP) -0.39% 0.90261 Delayed Quote.6.36%
MSCI UNITED KINGDOM (STRD, UHD) 1.04% 1009.276 Real-time Quote.-16.09%
ROCHE HOLDING AG -0.15% 301.8 Delayed Quote.-3.61%
RYANAIR HOLDINGS PLC 0.41% 15.87 Delayed Quote.8.03%
STOXX EUROPE 600 -0.11% 391.27 Delayed Quote.-5.81%
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More news
Sales 2020 59 299 M 66 255 M 66 255 M
Net income 2020 14 278 M 15 952 M 15 952 M
Net cash 2020 3 412 M 3 812 M 3 812 M
P/E ratio 2020 18,3x
Yield 2020 3,07%
Capitalization 259 B 289 B 289 B
EV / Sales 2020 4,31x
EV / Sales 2021 3,97x
Nbr of Employees 97 735
Free-Float 83,6%
Duration : Period :
Roche Holding AG Technical Analysis Chart | MarketScreener
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Technical analysis trends ROCHE HOLDING AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 25
Average target price 376,71 CHF
Last Close Price 302,65 CHF
Spread / Highest target 45,4%
Spread / Average Target 24,5%
Spread / Lowest Target -5,83%
EPS Revisions
Severin Schwan Chief Executive Officer & Executive Director
Christoph Franz Chairman
Alan Hippe Chief Financial & Information Technology Officer
Paul Bulcke Non-Executive Director
André S. Hoffmann Vice Chairman
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