In today’s briefing:
- STOXX Europe Quiddity Leaderboard Sep 2022 (2.0): Ultra Electronics, Bavarian Nordic, Uniper, & More
- Pharmaron Beijing Co Ltd (3759.HK/300759.CH) – The Story May Have Changed
STOXX Europe Quiddity Leaderboard Sep 2022 (2.0): Ultra Electronics, Bavarian Nordic, Uniper, & More
- In this insight, we take a look at the names leading the race to become ADDs/DELs for the STOXX Europe 600 and EURO STOXX Indices for the September 2022 Rebalance.
- Based on current rankings, there could be around 8 ADDs/DELs in the September 2022 Rebalance.
- Furthermore, Ultra Electronics Holdings (ULE LN) could get deleted at the end of this week triggering an intra-review addition to the STOXX Europe 600 Index.
Pharmaron Beijing Co Ltd (3759.HK/300759.CH) – The Story May Have Changed
- Pharmaron’s share price plunged after the release of the estimate for 2022 interim results, even dragging down the entire CXO sector, which reflected the attitude of Mr Market.
- One important reason for low net profit growth is related to the development strategy – Even if Pharmaron achieves “integration”, its advantage/profit margin could largely shrink due to overcapacity/fierce competition.
- Pharmaron can only achieve V-shaped rebound by making breakthroughs in CGT CXO to boost valuations and expectations on outlook rather than pursue the strategy of “integration” as in the past.
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