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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AstraZeneca PLC    AZN   GB0009895292

ASTRAZENECA PLC

(AZN)
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European shares tumble on J&J vaccine worries, banks slide

10/13/2020 | 04:27am EST

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

* Airbus slips after JPMorgan downgrade

* Bank stocks mark worst day in three weeks

* UK unemployment hits highest level in over three years

* French Connection slumps after first-half results

Oct 13 (Reuters) - European shares fell on Tuesday as Johnson & Johnson's move to pause its COVID-19 clinical trials raised doubts about the timeline of a vaccine, while bank stocks tracked a slide in bond yields on bets of more stimulus by the European Central Bank.

A month after AstraZeneca suspended late-stage trials of its vaccine candidate, Johnson & Johnson said it had temporarily halted trials due to an unexplained illness in a study participant.

The pan-European STOXX 600 snapped a three-day winning streak to fall 0.6%, with banks slumping 2.7% as long-dated sovereign bond yields in Italy and Greece sank to record lows.

Only the telecoms, media and tech sectors ended the day marginally higher. Still, analysts said the news was unlikely to spark a prolonged sell-off in equity markets.

"With numerous vaccines in the pipeline, this setback might not be viewed too negatively unless the unexplained illness becomes more expensive in other trials," said Stephen Innes, a markets strategist at Axi.

Investors were also digesting mixed signals on more U.S. fiscal aid, with House Speaker Nancy Pelosi saying a recent offer from President Donald Trump fell far short of what the American people need, but added she still hoped a deal could be reached.

The U.S. S&P 500 and the blue-chip Dow indexes lost 0.3%.

Hopes of more U.S. fiscal aid and signs of an economic rebound have powered European stock markets, helping the benchmark STOXX 600 on Monday to hit its highest close in nearly a month.

Losses on Tuesday were led by German and British mid-cap stocks as data signalled a long road to pre-pandemic economic output.

German investor sentiment fell more than expected in October on a triple whammy of coronavirus, Brexit and U.S. election angst, while in Britain, the unemployment rate rose in the three months to August to hit its highest in more than three years.

"UK unemployment is unfortunately set to rise further on the combined impact of fresh COVID-19 restrictions and the end of the original furlough scheme," said ING economist James Smith.

In company news, Airbus SE fell 3.5% as JPMorgan cuts its rating on the planemaker's stock to "underweight" from "neutral".

British clothing retailer French Connection Group Plc slumped 19.6% in its worst session since March after posting a slump in first-half sales due to the health crisis. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur and Gareth Jones)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 1.22% 92.41 Real-time Quote.2.93%
ASTRAZENECA PLC -0.86% 7651 Delayed Quote.4.38%
DJ INDUSTRIAL 0.83% 31188.38 Delayed Quote.1.06%
EURO / BRITISH POUND (EUR/GBP) 0.01% 0.8862 Delayed Quote.-0.41%
FRENCH CONNECTION GROUP PLC 0.00% 10.75 Delayed Quote.5.65%
JPMORGAN CHASE & CO. -1.50% 135.97 Delayed Quote.8.63%
NASDAQ 100 2.31% 13296.450006 Delayed Quote.0.84%
NASDAQ COMP. 1.97% 13457.247715 Delayed Quote.0.86%
S&P 500 1.39% 3851.85 Delayed Quote.2.55%
STOXX EUROPE 600 0.72% 410.84 Delayed Quote.2.23%
STOXX EUROPE 600 NR 0.71% 906.04 Delayed Quote.2.28%
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Financials (USD)
Sales 2020 26 394 M - -
Net income 2020 2 985 M - -
Net Debt 2020 13 227 M - -
P/E ratio 2020 41,2x
Yield 2020 2,69%
Capitalization 137 B 137 B -
EV / Sales 2020 5,70x
EV / Sales 2021 4,94x
Nbr of Employees 70 600
Free-Float 95,7%
Chart ASTRAZENECA PLC
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AstraZeneca PLC Technical Analysis Chart | AZN | GB0009895292 | MarketScreener
Technical analysis trends ASTRAZENECA PLC
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 125,97 $
Last Close Price 104,48 $
Spread / Highest target 49,4%
Spread / Average Target 20,6%
Spread / Lowest Target -19,5%
EPS Revisions
Managers and Directors
NameTitle
Pascal Soriot Chief Executive Officer & Executive Director
Leif Valdemar Johansson Non-Executive Chairman
Pam P. Cheng Executive VP-Operations & Information Technology
Marc Pierre Jean Dunoyer Chief Financial Officer & Executive Director
Menelas N. Pangalos EVP-Biopharmaceuticals Research & Development
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