HCA Market Close 08.12.22 - Featuring Shape Robotics and MT Højgaard Holding
HCA Market Close 08.12.22 – Shape Robotics announced a large partner agreement and changes to its Board, while MT Højgaard Holding (MTHH) announced its CSO will move into the CFO as the current CFO is stepping down.
Market Movements:
Denmark: OMX:C25 (-0.19%) ; Sweden: OMX:S30 (+0.17%) ; Norway: OBX:OSL (+0.57%) ; S&P 500 (+0.74%) ; Nasdaq (+1.07%); Stoxx 600 (-0.12%)
Market Drivers:
US tech gained today, while Europe closed slightly lower.
The main driver behind the US tech names was the US jobless claims data, which showed a slight increase of 4,000, taking weekly jobless claims to 230,000, while rolling unemployment hit a 10-month high of 1.67 million. The report showed a slight easing in the labour market, which may give the Fed room to pursue less aggressive rate hikes.
The China reopening story also played a role today, with commodities broadly outperforming. However, oil prices dipped further, extending this week’s losses. So far it is difficult to determine how much of the move is a result of recession expectations, and how much is to do with the energy crisis.
Snacks from the HCA Platform:
This morning, Shape Robotics entered into a large partner agreement with a market-leading electronics and IT distributor in Romania, Network One Distribution (NOD). The first order of approx. DKK 7 million will be delivered this month, and it is expected that the distribution agreement will lead to a total expected invoicing value of DKK 60 million over the next three years. Shortly after the market closed today, Shape Robotics also announced that the company’s Chairman, Lars Nyengaard, has decided to withdraw from the Board of Directors. Vice-Chairman Kasper Støy, co-founder of Universal Robots, steps in as Chairman. The share gained 12.0% in today’s trading.
After market close, MT Højgaard Holding (MTHH) announced that Rasmus Untidt will take up the position as CFO from the 9th of December 2022. He has been part of the management team since April 2022 as Chief Strategy Officer, and before that, he has been the head of MT Højgaard Holding’s business strategy development for more than 8 years. The current CFO - Martin Solberg – will step down at his own request.
Disclaimer: HC Andersen Capital receives payment from the companies for a #DigitalIR agreement./ Philip Coombes 18:05