HCA Market Close 02.12.22: Featuring MT Højgaard Holding and DanCann Pharma
HCA Market Close 02.12.22 – MT Højgaard Holding announced it has been awarded a contract to construct a Novo Nordisk production facility, while DanCann Pharma announced it received the GMP certification at its production facility Biotech Pharm1.
Market Movements:
Denmark: OMX:C25 (+0.27%) ; Sweden: OMX:S30 (+0.21%) ; Norway: OBX:OSL (-1.11%) ; S&P 500 (-0.41%) ; Nasdaq (-0.68%); Stoxx 600 (-0.15%)
Market Drivers:
Markets fall following the US jobs report which showed more jobs were added than expected.
Markets initially sold off fairly heavily today following US payrolls data, which showed non-farm payrolls increased by 263,000 in November, against expectations of 200,000. The unemployment rate was steady at 3.7% showing that the jobs added were a result of the labour participation rate increasing.
Softening in the labour market is a key target of Jerome Powell and the Federal Reserve, so the negative market reaction came about on the assumption that the report gives the Fed room to hold interest rates, higher for longer.
In other news Bloomberg reports that Wall St is slashing bonuses by as much as 30% under weaker investment banking performance and potentially gives a sign that the talent competition is easing.
Snacks from the HCA Platform:
MT Højgaard Holding (MTHH) earlier today announced that its business unit MT Højgaard Danmark has been awarded a contract by Novo Nordisk to construct a production facility as well as modifying and extending an existing building in Bagsværd, Denmark. The project will be in cooperation with Kemp & Lauritzen and has total value of DKKbn 1.2 of which around 50% will be MT Højgaard Danmark’s share. The project has been initiated immediately and is expected to be completed in H2 2024. MTHH keeps their 2022 outlook unchanged, but this project comes with a number of other orders during the last 4 months which will likely secure positive outlook for the coming years. Shares of MTHH ends the day with a gain of around 2.9% at DKK 158.
DanCann Pharma gained 4.6% today following the very important milestone news, announced this morning, that the company have received the GMP certification at its production facility Biotech Pharm1, which means that they are now ready to produce orders for their customers.
Disclaimer: HC Andersen Capital CEO Tue Ostergaard is a member of the Board at DanCann Pharma and owns shares in the company.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:20
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