The European markets drag without polish towards the buoy of the weekend. Piazza Affari – +0,22% waiting to launch the assault on 29 – is more tonic than other lists such as Frankfurt, held back by the disappointing numbers of the software giant Sap. Even better than London, which was weighed down by Lonza -11,30% after the third-party drug maker cut its outlook for the full year.
Stock exchanges latest news: pharma shines in Milan
On the contrary, the pharma sector shines on the Italian list thanks to Recorded, leading stock of the morning with an abundant 3% rise. The sprint of the Milanese multinational is linked to theagreement with Gsk for the marketing in 21 countries of Avodart and Combodart Duodart, two of the most popular drugs for the treatment of symptoms ofbenign prostatic hyperplasia (BPH) and for risk reduction acute urinary retention (RUA). Both products were marketed by GSK in the countries now under license to Recordati, with sales in 2022 of around 115 million euros. Recordati will make an up-front payment of 245 million, and will start progressively recording revenues and margins country by country following the completion of the necessary transition activities. The company expects the first transitions to take place in the third quarter of 2023, most of these are expected to be completed by the end of 2023. The transaction is expected to contribute 2023-10 million Euros of revenues in 20 with a positive EBITDA.
Banca Akros and Equita are ready to revise upwards the company's estimates.
Best and worst in Piazza Affari
In the rest of the list good Pirelli after the publication of the Michelin accounts and the good performance of the spare parts market, especially in China. The Board of Directors for the half-year was brought forward to 27th July.
Yesterday the European Commission approved the 89,5 million loan euros, granted by Italy to theEnel +0,6% through the Pnrr, for the expansion of the 3Sun photovoltaic module production plant in Catania.
ALSO READ: Enel: 3Sun presents new latest generation photovoltaic panels
Buzzi +2%. JP Morgan raises rating to Neutral, from Underweight.
In red stm -1,02% after the sharp drop in Taiwan of TSMC -5%.
Stoxx 500 and Wal Street: what's going on
The pan-European STOXX 600 index is unchanged at a one-month high. Swedish steelmaker SSAB plunges 12% after operating profit halves in second quarter.
France's Thales dropped 4% despite the defense electronics firm raising its guidance, with Jefferies emphasizing how forex revision assumptions weigh on the outlook.
On Wall Street, the Nasdaq futures it is positive. Ten-Year Treasury Notes hit 3,84%, up from 3,75% yesterday. The two-year period recorded more or less the same movement: the spread remained around -100 basis points.
He goes down it yen on dollar, the cross rises by more than 1%. According to rumors reported by Reuters and Bloomberg, the central bank is in no hurry to review its monetary hyperstimulation program.
The euro trades at 1,113, little moved after three consecutive sessions of weakness, yesterday -0,6%.
