Publicis Groupe Sa (PUB)

Index:

CAC 40

  41.78
   
  • Change Today:
     -1.16
  • 52 Week High:  55.30
  • 52 Week Low:  36.35
  • Currency: Euro
  • Shares Issued: 231.24m
  • Volume: 1,047,507
  • Market Cap:  9,661m
  • Beta: 0.54

Europe midday: Stocks higher as investors focus on corporate results

By Alexander Bueso

Date: Thursday 18 Oct 2018

LONDON (ShareCast) - (Sharecast News) - Stocks on the Continent are trading mostly higher, with investors brushing off a sharp drop overnight in Chinese stocks following the release of a 'hawkish' set of US central bank meeting minutes.
"Despite a disappointing session in Asia, European markets have seen further buying pressure this morning, as the recovery from the lows continues," said IG's Chris Beauchamp.

"Dollar strength following on from last night's Fed minutes has arisen as the bank looks to maintain, and even increase, the pace of tightening, if only to give itself the room for manoeuvre necessary if the economy turns southwards in the coming two years."

Against that backdrop, investors were digesting news that the UK's withdrawal process from the European Union might be extended for another year and reports of tensions in Italy's governing coalition after the leader of the Five Star movement, Luigi di Maio criticised plans for a partial tax amnesty.

As of 1151 BST, the benchmark Stoxx 600 was ahead by 0.15% or 0.56 points to 364.08, alongside an advance of 0.20% or 23.75 points to 11,738.59 for the German Dax and a gain of 0.31% or 15.73 points to 5,160.78 for the Cac-40.

In parallel, Brent crude oil futures were again on their back foot, even as the US dollar spot index came off its earlier highs.

Spain's Ibex 35 on the other hand was lagging behind, falling by 0.69% to 8,935.80 after the country's Supreme Court ruled that it was lenders, and not borrowers, who were liable to pay stamp duty on home mortgages.

However, it remained to be seen to what extent the ruling would be applied retroactively. Depending on the region of Spain in which one lived, the duty could range between 0.5% and 1.5% of the value of the mortgage.

Spanish lenders' shares were left reeling, with Bankia down by 6.96%, Caixabank losing 6.92% and Banco Sabadell off by 6.22%.

At the pan-European level meanwhile, the Stoxx 600's sector gauge for lenders was down by 1.0% to 146.63.

On a chipper note, Swiss drugs giant, Novartis, posted a 2.6% rise in core earnings per share, slightly missing analysts' forecasts. However, the company also nudged its forecasts for full-year sales higher, predicting growth in the "mid-single-digit" range.

Market commentary around the announcement that it would acquire US cancer-drug maker, Endocyte, for $2.1bn was also positive.

But the standout rise was Publicis Groupe, after the media giant announced its intention to sell its non-core health business, sending its shares 7.96% higher.

That announcement helped to offset news that the company's organic revenues rose by only 1.3% over the third quarter of 2018 to €2.197bn, which fell short of analysts' forecasts.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

PUB Market Data

Currency Euro
Share Price   41.78
Change Today   -1.16
% Change -2.70 %
52 Week High  55.30
52 Week Low  36.35
Volume 1,047,507
Shares Issued 231.24m
Market Cap  9,661m
Beta 0.54

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 12
Sell 1
Strong Sell 1
Total 20
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Trades for 17-Jan-2020

Time Volume / Share Price
17:37 345 @  41.78
17:37 395 @  41.78
17:35 1,611 @  41.78
17:35 29 @  41.78
17:35 271 @  41.78

Top of Page