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    SFZN   CH0014284498

SIEGFRIED HOLDING AG

(SFZN)
  Report
Delayed Swiss Exchange  -  11:30 2022-12-02 am EST
655.50 CHF   +1.55%
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European shares up on energy boost, but inflation caps gains

08/18/2022 | 05:52am EST

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

* July inflation at 8.9% y/y

* Adyen falls after earnings miss

* Norway cenbank raises rates by 50 bps

* Rockwool falls on margin outlook cut

Aug 18 (Reuters) - European shares rose on Thursday with a boost from oil stocks, but lagged other major markets as euro zone inflation reached a record high in July and European Central Bank officials hinted at another large rate hike next month.

The continent-wide STOXX 600 ended 0.4% higher, lifted by a 1.7% gain for energy stocks after crude futures rose more than $1.

"Oil and gas stocks have enjoyed a welcome boost today, following a period of weakness in crude prices," said Joshua Mahony, senior market analyst at online trading platform IG.

Consumer prices in the euro zone rose 0.1% month-on-month in July for a 8.9% year-on-year increase, the highest since the euro was created in 1999, EU's statistics office confirmed.

Of the total, 4.02 percentage points came from more expensive energy, the costs of which surged because of Russia's invasion of Ukraine.

Earlier, ECB board member Isabel Schnabel said the region's inflation outlook had failed to improve since the rate hike in July and suggested another big rate increase next month.

The comments pushed Germany's 10-year yield up 5 basis points to a near four-week high.

Governing Council member Martins Kazaks echoed Schnabel's views in a separate interview, according to a news report.

On Wednesday, the Federal Reserve's July meeting minutes also provided little comfort over the pace of U.S. interest rate hikes.

"The ECB has a lot of catch-up to do, but their bark is going to be worse than their bite because they're constrained by the Transmission Protection Instrument (TPI) - if borrowing costs surge too high too quickly, that could lead to a debt crisis," said David Madden, market analyst at Equiti Capital.

The TPI is a bond purchase scheme aimed at helping more indebted euro zone countries.

Money markets are now fully pricing in a half percentage point ECB move in September and a 35% chance of a bigger 75-basis point move.

Meanwhile, Norway's central bank raised interest rates by 50 basis points and said more hikes were in the pipeline.

Among stocks, Rockwool tumbled 8.3% after the Danish stone-wool manufacturer cut its 2022 margin guidance on soaring energy prices.

Adyen dropped 3.7% after the Dutch payment processor missed core earnings expectations for the first half of 2022.

Siegfried jumped 15.7% after the Swiss pharmaceutical company beat first-half expectations and raised its 2022 outlook.

(Reporting by Anisha Sircar and Shreyashi Sanyal in Bengaluru; Editing by Sriraj Kalluvila and Tomasz Janowski)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADYEN N.V. -1.39% 1484.6 Real-time Quote.-35.77%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.09% 0.6442 Delayed Quote.1.28%
BRENT OIL -1.49% 85.9 Delayed Quote.11.95%
BRITISH POUND / EURO (GBP/EUR) -0.03% 1.1656 Delayed Quote.-2.14%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.05% 0.704573 Delayed Quote.1.54%
INDIAN RUPEE / EURO (INR/EUR) 0.09% 0.011666 Delayed Quote.-0.67%
ROCKWOOL A/S 1.63% 1623.5 Delayed Quote.-43.23%
SIEGFRIED HOLDING AG 1.55% 655.5 Delayed Quote.-26.31%
STOXX EUROPE 600(EUR)(TR) -0.15% 1023.82 Delayed Quote.-6.81%
US DOLLAR / EURO (USD/EUR) -0.07% 0.948767 Delayed Quote.8.00%
WTI -1.34% 80.208 Delayed Quote.6.45%
All news about SIEGFRIED HOLDING AG
09/29Siegfried : Announces Change in its Board of Directors
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09/28Global markets live: Tesla, Biogen, Lyft, Ford, Toyota...
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09/28Drugmakers Siegfried, Novavax Extend Aseptic Fill-finish Deal for COVID-19 Jab Until 20..
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09/28Siegfried : and Novavax extend their collaboration
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08/18European shares up on energy boost, but inflation caps gains
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08/18Siegfried Seeks M&A
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Analyst Recommendations on SIEGFRIED HOLDING AG
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Financials
Sales 2022 1 256 M 1 337 M 1 337 M
Net income 2022 138 M 147 M 147 M
Net Debt 2022 398 M 424 M 424 M
P/E ratio 2022 20,2x
Yield 2022 0,56%
Capitalization 2 784 M 2 963 M 2 963 M
EV / Sales 2022 2,53x
EV / Sales 2023 2,42x
Nbr of Employees 3 511
Free-Float 88,3%
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Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 655,50 CHF
Average target price 869,50 CHF
Spread / Average Target 32,6%
EPS Revisions
Managers and Directors
Wolfgang Wienand Chief Executive Officer
Reto Suter Chief Financial Officer
Andreas Casutt Chairman
JŘrgen Roos Chief Scientific Officer
Colin Bond Independent Non-Executive Director
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