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    AZN   GB0009895292

ASTRAZENECA PLC

(AZN)
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Dealmaking supports European shares but Richemont profit miss weighs

05/12/2017 | 05:52am EDT
Traders work in front of the German share price index, DAX board, at the stock exchange in Frankfurt

MILAN (Reuters) - European shares inched up on Friday, underpinned by gains among drugmakers and some fresh dealmaking activity, while luxury group Richemont (>> Compagnie Financiere Richemont SA) fell on a disappointing earnings update.

MILAN (Reuters) - European shares inched up on Friday, underpinned by gains among drugmakers and some fresh dealmaking activity, while luxury group Richemont (>> Compagnie Financiere Richemont SA) fell on a disappointing earnings update.

Cartier owner Richemont fell 5.6 percent, leading losers in Europe after saying the trading environment would stay volatile after net profit fell below expectations but sales growth picked up towards the end of its fiscal year to March.

Baader Bank analyst Andreas von Arx said results were mixed and kept his hold rating on the stock, which has enjoyed a strong rally since the start of the year.

In spite of the disappointing update from the heavyweight luxury group, results in Europe have been surprisingly strong with 67 percent of companies beating earning expectations.

Combined with easing political worries that have attracted a wave on inflows, especially from the United States, strong earnings have helped the pan-European STOXX 600 <.STOXX> hit 21-month highs earlier in the week.

European equity funds pulled in more than $6 billion in net inflows in the week following the second-round of the French presidential election, a record for weekly flows, according to Citi and fund tracker EPFR Global.

By 0926 GMT the STOXX <.STOXX> and euro zone blue chips <.STOXX50E> were both flat, while the UK's FTSE 100 <.FTSE> added 0.2 percent, supported by a 4.8 percent surge in AstraZeneca (>> AstraZeneca plc) following positive trial results from a key immunotherapy drug.

Gains in the British drugmaker helped lift Europe's healthcare <SXDP> index up 0.8 percent, making it the biggest boost to the STOXX.

Elsewhere activity was driven by fresh dealmaking activity.

United Internet (>> United Internet AG) rose 9 percent, after saying that it planned to buy a majority stake in mobile operator Drillisch (>> Drillisch AG) in a deal which will boost competition at the low end of the crowded German telecoms market.

Drillisch soared above the bid price. Alpha Trading portfolio manager Stefan De Schutter said that reflected the fact that Drillisch will pay a dividend before the bid as well as the chance that United may increase the stake in the future.

German telecoms Deutsche Telekom (>> Deutsche Telekom AG) and Telefonica Deutschland (>> Telefonica Deutschland Holding AG) rose 3.1 and 7.7 percent, respectively.

Havas (>> Havas) soared 9.5 percent after Vivendi announced an offer to buy Group Bollore's (>> Bolloré) 60 percent stake in the French advertising group in a $2.6 billion deal.

Schibsted (>> Schibsted ASA) rose 7.5 percent after revenues at the Norwegian media firm kept its guidance and posted revenues above analyst expectations.

Italian lender Banco BPM (>> Banco BPM SpA) rallied 8.3 percent after its quarterly net profit came in well above expectations.

Banco Popular (>> Banco Popular Espanol SA) fell 3 percent after the struggling Spanish lender denied it was urgently seeking to be taken over. The stock was the biggest faller in Madrid on Thursday when the IBEX suffered its biggest one-day loss in six months.

Credit Suisse donwgraded Spanish equities to underperform on Friday.

(Reporting by Danilo Masoni)

By Danilo Masoni


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
1&1 AG -0.30% 26.2 Delayed Quote.28.57%
ASTRAZENECA PLC 0.33% 8768 Delayed Quote.19.32%
BANCO BPM S.P.A. 1.13% 2.956 Delayed Quote.61.67%
BOLLORÉ SE -0.19% 5.2 Real-time Quote.54.05%
COMPAGNIE FINANCIÈRE RICHEMONT SA 0.60% 109.65 Delayed Quote.36.11%
DEUTSCHE TELEKOM AG 0.83% 16.53 Delayed Quote.9.62%
FTSE 100 0.08% 7223.1 Delayed Quote.11.72%
IBEX 35 0.24% 9017.9 Delayed Quote.11.43%
MSCI UNITED KINGDOM (STRD) 0.21% 1168.709 Real-time Quote.12.24%
NEXT PLC -1.07% 7982 Delayed Quote.13.86%
S&P UNITED KINGDOM (PDS) 0.09% 1439.53 Delayed Quote.12.31%
SCHIBSTED ASA 2.03% 457.7 Real-time Quote.22.47%
STOXX EUROPE 600 0.32% 470.07 Delayed Quote.17.43%
TELEFÓNICA DEUTSCHLAND HOLDING AG 0.26% 2.32 Delayed Quote.2.62%
THE SWATCH GROUP SA 0.33% 246.8 Delayed Quote.1.86%
UNITED INTERNET AG 0.50% 32.06 Delayed Quote.-7.35%
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Analyst Recommendations on ASTRAZENECA PLC
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Financials (USD)
Sales 2021 35 422 M - -
Net income 2021 4 868 M - -
Net Debt 2021 24 833 M - -
P/E ratio 2021 25,3x
Yield 2021 3,21%
Capitalization 136 B 188 B -
EV / Sales 2021 4,54x
EV / Sales 2022 3,65x
Nbr of Employees 76 100
Free-Float 96,4%
Chart ASTRAZENECA PLC
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AstraZeneca PLC Technical Analysis Chart | AZN | GB0009895292 | MarketScreener
Technical analysis trends ASTRAZENECA PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Last Close Price 87,68 $
Average target price 137,86 $
Spread / Average Target 57,2%
EPS Revisions
Managers and Directors
Pascal Soriot Chief Executive Officer & Executive Director
Aradhana Sarin Chief Financial Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Menelas NICOLAS Pangalos EVP-Biopharmaceuticals Research & Development
Pam P. Cheng Executive VP-Operations & Information Technology
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