Concerns about the rising pushed European stocks into the red. Warehouses Estates Belgium benefited from for improved results. Acacia Pharma got another knock.
September was the worst month for equity markets since March 2020 and securities to consider. The MSCI AC World Index declined 4.3 percent, the Euro Stoxx 50 declined 3.5 percent.
The question is October brings improvement. That month also does not have the best reputation, probably because many historical crashes – on ‘black’ days – took place in October. The securities for investing have not changed either: high, most energetic, disrupted supply lines, cause corona pandemic, scarcity, disrupted supply lines, cause corona pandemic
European stocks lost about half a percent on the first day. The Bel20
experienced a similar decline, closing at 4,137 points. Cyclically sensitive stocks started the worst: the stainless steel manufacturer Aperam lost almost 5 percent, the materials technology group Umicore
fell 2.9 percent and the chemical group Solvay
spent 2.1 percent in min.
Germany and Ireland
filled to the scarce risers and increased by 1.1 percent to 109 euros. The healthcare real estate specialist is boldly continuing its expansion. On Thursday evening, Aedifica announced to invest 18 million euros in two residential care centers in Duisburg, Germany, which are already in operation.
Friday morning there was already a new investment: 48 million euros will be spent on two residential care centers near Dublin. One is already in use, the second should be ready by the third quarter of 2023. Aedifica did not enter the Irish market until February this year, but its portfolio will reach EUR 140 million once all Irish projects have been completed.
And not two without three: after the close of trading, a new press release followed about the purchase of a residential care center in Borna, Germany, for 15 million euros.
Get well soon at WEB
Warehouses Estates Belgium
(WEB), the lessor of mainly peripheral retail property, achieved better results in the first half of the year than a year earlier. At that time, our country was in a strict lockdown, shops were closed for weeks and landlords of retail property granted rent discounts.
Net rental income consumes 9.55 million euros compared to 7.67 million euros a year earlier. The occupancy rate improved from 90.02 to 95.24 percent. WEB posted a net profit of 5.68 million euros, compared to a loss of 0.6 million euros a year ago.
WEB reports strong results for the general improvement in the retail sector over the six months, says Herman van der Loos of Degroof Petercam. A small settlement are the slightly larger costs and the larger costs of repair work.
The analyst improves his estimate for earnings per share from 3.75 to 3.59 euros. As for the dividend, earnings are expected to rise, but WEB will keep the cash payout in-house. The analyst expects a flat dividend of 3.15 euros per share. He lowers his price target from 46 to 44 euros and maintains his ‘hold’ advice.
The share gained 2.9 percent to 38.80 euros.
made a slide of 13.3 percent on Thursday and fell 2.5 percent again on Friday to 1.97 euros. The British pharmaceutical company is in the process of launching its two US-approved products – Barhemsy against postoperative projects and the short-acting sedative Byfavo – there. The drugs are included on US hospitals’ approved procedures lists, but sales are limited. Due to corona, access to hospitals is more difficult and there are fewer operations and minor interventions.
The main reason for the price drop seems to be the cash position. Acacia said it had $47.1 million in cash at the end of June. The current financial operation will be until the second quarter of 2022. A new capital operation will be.
After the conference call, Jefferies’ analysts were largely dependent on the potential of both Barhemsys and Byfavo. They’re still counting on $400 and $150 million, but think both products could take a year longer to reach.
Acacia has enough cash into the second quarter of next year, but the short-term sales slowdown is driving higher funding needs, the Jefferies analysts note. Given the impending dilution, their price target drops from 8 to 7 euros. They still think the stock is worth buying.