European exchanges wait for the House of Commons

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The other European stock exchanges seem to be starting Friday with losses. Investors are waiting for the British House of Commons to examine the Brexit agreement of Prime Minister Boris Johnson and the European Union on Saturday. In addition, the mood is being depressed by a disappointing growth in the Chinese economy.

Johnson is very confident that British parliamentarians will support the Brexit agreement if they have studied it. The EU countries have unanimously approved the agreement.

The Chinese economy grew by 6 percent in the third quarter. That is the slowest growth in almost thirty years. The second largest economy in the world is severely affected by the trade dispute with the United States.

At the Damrak, Galapagos may move on a change of advice. Bernstein analysts reduced their recommendation for the biotechnology company. In addition, Citi started following the media conglomerate Prosus with a purchase recommendation. Maritime oil service provider SBM Offshore announced to be the main candidate to acquire minority interests from cooperating partner Serviços de Petróleo Constellation in five Brazilian production and storage vessels (FPSOs). SBM is already the majority owner and operator of those FPSOs.

Kiadis Pharma no longer expects the European Medicines Agency (EMA) to approve its ATIR101 drug next year. According to the biotechnology company, the medicine watchdog found the information provided insufficient.

Bed seller Beter Bed sells its distribution center in Uden. The deal involves an amount of 14 million euros and Beter Bed delivers a book profit of 5.1 million euros after tax.

Renault is in the spotlight in Paris. The French automaker lowered its sales forecast for this year. The profit margin is also lower than previously anticipated. The company states that the economic conditions are worse than expected.

At the takeover front, Bloomberg news agency reported that Austrian sensor maker AMS is considering dust off its bid for lighting company Osram Licht. A bid of a total of 4 billion euros from AMS was previously accepted by not enough Osram shareholders.

The euro was worth $ 1.1120, against $ 1,1125 a day earlier. The price of a barrel of American oil fell 0.3 percent to $ 53.78. Brent oil was 0.6 percent at $ 59.57 a barrel.

About the author

Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email [email protected]

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