NEWS: First round bids for Elan (ELN) due next week, according to sources
REACTION: Co. shares moved 1.15% higher in immediate reaction to the news from USD 14.02 to USD 14.18.
NEWS: Roche (ROG VX) said to seek financing for potential Alexion (ALXN) takeover bid
REACTION: In immediate reaction ALXN shares moved higher by 5.84% from USD 101.76 to USD 107.70 before being halted, limit up. In the 20mins following, co. shares had moved higher by as much as 23%. This also supported other Biotechnology names with ARIAD Pharmaceuticals up 10% and Biomarin Pharmaceuticals up 11%, which made the NASDAQ the out performer.
NEWS: Thomson Airways says Boeing (BA) 787 aircraft for Florida had to return to Manchester today due to technical issues
REACTION: In immediate reaction Co. shares moved 2.13% lower from USD 103.45 to USD 101.31
NEWS: Fitch downgrades France to AA+ from AAA; outlook stable; this followed earlier market talk of a French sovereign downgrade at 1422BST, which was covered on both the audio and headline feed, and recapped following the European cash close at 1640BST.
REACTION: In immediate reaction to the downgrade EUR/USD moved lower by 46pips from 1.3079 to 1.3033.
NEWS: Reports of a fire on a Boeing 787 Dreamliner at London’s Heathrow airport put pressure on Co. shares.
REACTION: In reaction to the report that this is a plane made by Boeing (BA) Co. shares moved lower by 1.91% from USD 107.33 to USD 105.28
In the following 10mins Co. shares have moved lower by total of 4.06% to USD 102.80. Boeing, being the 5th largest component of the DJIA, caused the entire index to underperform.
NEWS: For the Medicines Company (MDCO), US District Court adopts Hospira's definitions in claim of Co.'s interpretation
REACTION: Over the next 5 minutes MDCO shares moved lower by 6.60% from USD 33.40 to USD 31.19
NEWS: Qiagen N.V. (QGEN) get FDA approval for Therascreen
REACTION: In immediate reaction QGEN shares moved higher by 1.13% from USD 19.89 to USD 20.11 before paring the entire move.
NEWS: Market talk that Third Point is to reveal a significant stake in Cliffs Natural Resources (CLF) - Unconfirmed
REACTION: CLF shares moved 1.3% higher in immediate reaction to the news from USD 17.42 to USD 17.63
NEWS: UPS (UPS) cuts forecast for the year
REACTION: Analysts pointed out the sector-related stocks in Europe open for trade: Deutsche Post (DPW GY) shares immediately fell 1.3%, falling from EUR 20.39 to EUR 20.13 and TNT Express (TNTE NA) fell 0.30% from EUR 5.99 to EUR 5.97
NEWS: Daimler (DAI GY) EBIT for Q2 2013 above market expectations; EBIT inc. special items amounts to EUR 5.2bln. Analysts highlighted that this was an unexpected release ahead of their official earnings later in the month
REACTION: In the immediate reaction, DAI GY rose 1.9%, moving from EUR 49.92 to EUR 50.89. Elsewhere, Volkswagen (VOW3 GY) shares rose 0.3% from EUR 166.99 to EUR 167.45, and BMW (BMW GY) shares rose 0.3% from EUR 70.83 to EUR 71.05
NEWS: Outokumpu (OUT1V FH) signs EUR 900mln revolving credit facility
REACTION: OUT1V FH shares immediately rose 2.0%, rising from EUR 0.53 to EUR 0.55
NEWS: Analysts briefed listeners on the Portuguese political tensions well ahead of the Eurex open over the squawk, headlines and through the Daily European Opening News report made available at 0630BST. As the day progressed, the Portuguese Socialist Opposition said they saw the need to renegotiate the bailout program at 1100BST
REACTION: Portuguese assets underperformed from the open, with Portuguese yields accelerating the move higher at 1100BST, moving to session highs of 7.648% over the next few hours. Over the same period, Sep-13 Bund futures added 38 ticks, moving from 143.45 to 143.83
Print 20:50, 12 Jul 2013 - Update - Source: RANsquawk
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