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    TECN   CH0012100191

TECAN GROUP LTD.

(TECN)
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Recovery optimism lifts European stocks, tech rallies as Nasdaq hits record high

06/24/2021 | 04:16am EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

* Retail, financial services, bank stocks lead gains

* German shares gain as business climate index rises

* BoE keeps rates unchanged, leaves stimulus taps open

* Tecan hits record high after Paramit acquisition

June 24 (Reuters) - European shares rose on Thursday as investors focused on a steady economic rebound against the backdrop of fears of a tapering in global monetary stimulus, while technology stocks jumped, taking cues from their U.S. peers.

The pan-European STOXX 600 was up 0.9%, with technology, retail and travel and leisure stocks among the biggest gainers.

Technology stocks jumped 1.7%, tracking gains in the tech-heavy U.S. Nasdaq index.

The benchmark STOXX 600 has seen sharp swings this week, with losses on Wednesday almost erasing gains from the previous two days as mixed messages from the U.S. Federal Reserve left investors uncertain about central banks' approach to tapering their massive stimulus in the face of rising inflation.

However, with the European Central Bank reaffirming its accommodative stance on monetary policy earlier this month, analysts said they did not expect European equities to continue to slide.

"With the ECB staying adamant that it's not time to consider withdrawing monetary policy support yet, we don't expect (Wednesday's declines) to lead to a trend reversal," said Charalambos Pissouros, senior market analyst at JFD Group.

German shares gained 0.9% as data showed the business climate index rose by more than expected in June and hit its highest level since November 2018.

"The strong Ifo reading sets the bar for future growth even higher," said Carsten Brzeski, global head of macro at ING.

"Right now, the sky is the limit for confidence indicators in Germany and indeed, the entire eurozone."

The Bank of England kept policy rates unchanged and said inflation would surpass 3% as Britain's locked-down economy reopens, but the climb further above its 2% target would only be "temporary" and most policymakers favored keeping stimulus at full throttle.

London's FTSE 100 rose 0.6%, while the mid-caps index fell 0.5%.

"Unlike the Fed, the Bank of England remains confident that the recent rise in inflation will be fleeting in nature," said Joshua Mahony, senior market analyst at IG.

"That dovish stance has helped to drive the market higher, following a week dominated by uncertainty."

In company news, Swiss laboratory instruments maker Tecan Group jumped 10.8% to a record high after it said it would buy U.S. medical devices and life sciences instruments group Paramit Corp for $1 billion.

French retailer Carrefour SA rose 0.7% after it said late on Wednesday it had started considering possible consolidation, divestitures or tie-ups of its foreign subsidiaries.

Airbus shares gained 0.6% even as regulators called for more rigorous checks when pulling some its jets out of pandemic storage following flawed cockpit readings that could suggest blocked sensors.

(Reporting by Sagarika Jaisinghani and Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta and Chris Reese)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -0.66% 111.3 Real-time Quote.24.75%
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) -0.18% 0.53291 Delayed Quote.-4.76%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.25% 0.6239 Delayed Quote.-0.66%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.49% 0.73482 Delayed Quote.-4.24%
BRITISH POUND / EURO (GBP/EUR) -0.08% 1.1701 Delayed Quote.4.43%
BRITISH POUND / US DOLLAR (GBP/USD) -0.30% 1.37848 Delayed Quote.0.60%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) -0.04% 0.576392 Delayed Quote.0.52%
CANADIAN DOLLAR / EURO (CAD/EUR) -0.09% 0.674787 Delayed Quote.5.01%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.36% 0.79442 Delayed Quote.1.32%
CARREFOUR -0.22% 15.885 Real-time Quote.13.47%
EURO / BRITISH POUND (EUR/GBP) 0.06% 0.85422 Delayed Quote.-4.20%
EURO / US DOLLAR (EUR/USD) -0.26% 1.17756 Delayed Quote.-3.62%
FTSE 100 -0.94% 6960.76 Delayed Quote.8.78%
INDIAN RUPEE / BRITISH POUND (INR/GBP) -0.01% 0.009734 Delayed Quote.-2.53%
INDIAN RUPEE / EURO (INR/EUR) -0.01% 0.011392 Delayed Quote.1.84%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.26% 0.013419 Delayed Quote.-1.87%
NASDAQ COMP. 0.03% 14840.712692 Delayed Quote.15.12%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.62% 0.69553 Delayed Quote.-2.74%
STOXX EUROPE 600 NR -0.76% 1024.69 Delayed Quote.17.45%
TECAN GROUP LTD. 2.07% 517 Delayed Quote.16.76%
UNITED PARCEL SERVICE INC -0.84% 209.86 Delayed Quote.25.68%
US DOLLAR / BRITISH POUND (USD/GBP) 0.33% 0.72541 Delayed Quote.-0.60%
US DOLLAR / EURO (USD/EUR) 0.25% 0.849206 Delayed Quote.3.75%
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06/23TECAN : Agrees to Buy US-Based Paramit For $1 Billion
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06/23Swiss group Tecan to buy Paramit Corp for $1 billion
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More news
Financials
Sales 2021 828 M 903 M 903 M
Net income 2021 117 M 127 M 127 M
Net cash 2021 478 M 522 M 522 M
P/E ratio 2021 52,7x
Yield 2021 0,56%
Capitalization 6 087 M 6 645 M 6 642 M
EV / Sales 2021 6,77x
EV / Sales 2022 6,15x
Nbr of Employees 2 050
Free-Float 99,5%
Chart TECAN GROUP LTD.
Duration : Period :
Tecan Group Ltd. Technical Analysis Chart | TECN | CH0012100191 | MarketScreener
Technical analysis trends TECAN GROUP LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 506,50 CHF
Average target price 439,00 CHF
Spread / Average Target -13,3%
EPS Revisions
Managers and Directors
Achim von Leoprechting Chief Executive Officer
Tania Micki Chief Financial Officer
Lukas Braunschweiler Chairman
Wael Yared Chief Technology Officer, Executive VP, Head-R&D
Ulrich Kanter EVP, Head-Operations & Information Technology
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