Monday, January 17, 2022

UPDATE 1-Defense stocks are downgrading European stocks due to viral, monetary policy concerns

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* Geberit Q4 aggravates construction stocks

* Half earnings from TMSC 4th quarter record earnings

* Chr Hansen Q1 sales exceeded expectations (Add comment, update prices)

January 13 () – European stocks fell on Thursday as defense and construction stocks are concerned about signs that COVID-19 cases will continue and the monetary policy environment is tightening.

Pan-European STOXX 600 fell 0.2%, the share of healthcare, personal and household goods fell the most, while the quarterly renewal of Swiss plumbing firm Geberit fell to construction stocks.

Geberit fell 3.9 percent as uncertainty increased, making it impossible to provide a forecast for 2022 on commodity prices or the construction market as a whole.

The STOXX 600, which hit a record high earlier this year, struggled to maintain growth as major central banks show tougher policies, while investors are worried about high inflation, the Omicron option and a fourth impact of supply pressure. The quarterly earnings season begins.

Equity Capital analyst David Madden said European stocks may be struggling to see large rallies where higher rates are expected.

“We’re seeing some companies start talking about lower margins, especially in the retail, manufacturing sectors.”

However, German Chancellor Olaf Scholz called for a mandatory COVID-19 vaccine for all adults, while the French Senate approved new measures to combat the virus, including a vaccine.

Technological stocks rose for the third day in a row after a seven-day loss. TMSC, the world’s largest contract chip maker, generated record quarterly revenue due to strong demand and developed the sector.

Semiconductor companies such as BE Semiconductors, ASM International and Soitec rose from 4.6% to 5.7%, while ASML Holding rose 2.5%.

STMicro was up 2.3 percent and Infineon was up 1.7 percent.

Among other reserves, Germany’s largest solar group, SMA Solar Technology, fell 7.1 percent after the second forecast for 2021 fell.

Food ingredients manufacturer Chr Hansen grew 5.3% quarterly after reporting higher-than-expected growth in organic revenue. (Anisha Sirkar’s interview in Bangalore; edited by Shounak Dasgupta and Vinay Dvivedi)

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