Euronext Brussels: the power of charging stations
The European stock markets set back on Thursday’s strong trading day. Hyloris adds a heart agent to his pipeline. Half moon in charging stations. And Bpost makes letters more expensive.
With the US Senate agreeing to a temporary increase in the debt ceiling, a headache is already gone. The agreement sparked optimism in New York and Asia, but left Europe rather cold. The EuroStoxx50 closed half a percent lower. But on a weekly basis, the index is still ahead thanks to Thursday’s rally (+2.1%). This was due to energy prices, in which Russian President Vladimir Putin played a key role.
Investors looked the cat out of the tree until the publication of the US jobs report. That turned out to be much worse than expected, as the markets started a fraction lower later in the afternoon.
The Bel20 . dropped in Brussels
by 0.2 percent to 4,145 points. The star performers in the index were the materials technology group Umicore
(+1.2%) and Telenet
(+1.1%).
Pressure came from, among other things Ageas
, which was 1.6 percent to 41.36 euros. Kepler Cheuvreux puts the scissors in his price target for the insurance group. The brokerage has adjusted estimates for Ageas’s results in 2022 with a 2 percent reduction in Taiping Life insurance premiums in the sum-of-its-parts valuation. The analyst does not expect any major surprises for the third quarter results that Ageas will announce on 10 November. He processes his price target of 48.70 to 42.30 euros and calculates his ‘decrease’ advice.
Two out of four
Hyloris
has completed its pipeline with an innovative cardiovascular product, CRD-102. It involves an oral long-acting of Milrinone intended to have developed, treat patients with heart failure. Milrinone strengthens the heart’s contractions so that it can pump more blood with fewer beats.
Hyloris has acquired the rights to CRD-102 from the Baker Heart and Diabetes Institute in Melbourne. The Liège, which is in charge of further development, production and commercialization, the originally born $50,000. The Baker Institute is also entitled to sales-related milestone payments and a share of the profits on the subsequent sale.
CRD-103 has successfully completed Phase 1 and 2 clinical studies. Hyloris hopes to launch the landmark Phase 3 trial by late 2022 or early 2023.
KBC Securities’ biotech analysts estimate the net value of the project at 15 to 20 million euros. They increase their price target by half a euro from 15 to 15.50 euros. Their valuation remains at ‘buy’.
Lenny Van Steenhuyse and Thomas point out that Hyloris had the prospect of adding four pipeline candidates for this year. Two of them are already in. They believe that CRD-102 could eventually hit the market in 2025/26. According to them, Hyloris is counting on peak sales between 50 and 80 million dollars.
Hyloris won 1.9 percent to 13.3 euros.
bpost
Short shipping will be more expensive next year. Especially for prior stamps increase in price. bpost
says the price increase is necessary to do the cost per letter provided.
Thomas Couvreur of KBC Securities that the average percentage of mail items will be 4.7 more expensive. That will partly input the normalization of the decline in mail volume in 2022, he says. His price target (11 euros) and advice (buy) will not change.
The Bpost share initially went up almost 1 percent, but closed a fraction lower to 7.69 euros.
E+ disk
Crescent
, formerly Option, establishes E+ Drive together with ‘a few strong partners’ and thus also becomes active in charging stations. E+ Drive will offer public authorities and private companies a complete charging station, from excavation work and permits, installation and electrical installation to maintenance, insurance and financing.
According to Crescent, the charging stations are ‘top quality’ and are produced by Powerdale and Phoenix Contact, among others. The companies, whether or not prepared or not, come from Option and Remoticom for the installation and maintenance.
“This initiative aligns with Crescent’s announced strategy to drive more end-to-end announced IoT (Internet of Things, ed.) solutions to the market with advanced sensor technology and software,” said a press release.
The penny share Crescent climbed 4.2 percent to 0.03 euros.