EU indices mixed | TA focus on Novo Nordisk


European stocks report | RSA Insurance | Allianz | Amadeus | Novo Nordisk...

Downtrend 5

Yesterday, European stocks also remained firm. The Stoxx Europe 600 gained 1.05%, Germany's DAX jumped 1.98%, France's CAC 40 rose 1.24% and the U.K.'s FTSE 100 was up 0.39%.

73% of STOXX 600 constituents traded higher yesterday.
66% of the shares trade above their 20D MA vs 52% Wednesday (above the 20D moving average).
59% of the shares trade above their 200D MA vs 56% Wednesday (above the 20D moving average).

The Euro Stoxx 50 Volatility index eased 1.63pt to 26.37, a new 52w high.

3mths relative high: none
3mths relative low: Basic Resource

Europe Best 3 sectors
insurance, basic resources, banks

Europe worst 3 sectors
health care, technology, energy

The 10yr Bund yield fell 2bps to -0.64% (below its 20D MA). The 2yr-10yr yield spread rose 1bp to -15bps (above its 20D MA), a new 52w high.

GE 08:00: Sep Industrial Production MoM, exp.: -0.2%
FR 08:45: Sep Current Account, exp.: E-4.7B
FR 08:45: Sep Balance of Trade, exp.: E-7.7B
FR 08:45: Q3 Private Non Farm Payrolls QoQ Prel, exp.: -0.8%
UK 09:30: Oct Halifax House Price Idx MoM, exp.: 1.6%
UK 09:30: Oct Halifax House Price Idx YoY, exp.: 7.3%

In Asian trading hours, EUR/USD held gains at 1.1830 while GBP/USD eased to 1.3134. USD/JPY remained subdued at 103.45. Early today, official data showed that Japan's household spending dropped 10.2% on year in September (-10.5% expected)

Spot gold retreated to $1,940 an ounce.

RSA Insurance, a general insurance company, confirmed that it has received a proposal from Intact Financial and Tryg regarding a possible offer for the company, which comprises 685p in cash per share, plus payment by RSA of the announced interim dividend of 8p per share.

AstraZeneca, a pharmaceutical giant, said its Brilinta has been approved by the US Food and Drug Administration to reduce the risk of stroke in patients with an acute ischaemic stroke or high-risk transient ischaemic attack.

Allianz, a financial services group, announced that 3Q net income rose 5.9% on year to 2.06 billion euros while operating profit fell 2.6% to 2.91 billion euros on revenue of 31.4 billion euros, down 6.1%.

Amadeus, a major Spanish IT services provider, reported a 3Q adjusted net loss of 125 million euros, compared with an adjusted net profit of 323 million euros in the prior-year quarter, and revenue declined 70.1% on year to 419 million euros.

Novo Nordisk, a pharmaceutical group, announced that it has agreed to acquire all outstanding shares of U.S.-listed drug delivery company Emisphere Technologies for 1.35 billion dollars and to acquire related Eligen SNAC royalty stream obligations owed to MHR Fund Management, the largest shareholder of Emisphere, for 450 million dollars.

From a technical point of view, the stock has bounced back on the support of August at 400.2DKK. Moreover, volumes jumped during the last trading session. Above the bottom of August at 400DKK, targets are set at the previous all-time high of October 2020 at 467.9DKK and 490DKK in extension.

Source: TradingView, GAIN Capital

More from Equities


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.