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LIVE MARKETS-STOXX 600 rises, single stock moves dominate

By Reuters News

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STOXX 600 RISES, SINGLE STOCK MOVES DOMINATE

After a slightly sluggish start, Europe's STOXX 600 .STOXX is now up 0.4% - so still not a major move overall, but a reasonably steady one. A select few individual stocks meanwhile are making relatively hefty moves, at both the top and bottom of the STOXX 600.

Danish biotech company Genmab GMAB.CO is up around 13%, taking shares to levels last seen in early 2023, after encouraging follow-up data from a mid-stage trial of an experimental colorectal cancer treatment. Another big gainer is the UK's Computacenter CCC.L, which raised its profit forecast for the fourth time this year, sending shares up almost 8%.

On the flipside, shares in French LNG technology company GTT GTT.PA are down more than 12% after it reported lower-than-expected Q3 revenue. Portugal's Galp Energia GALP.LS also fell, last down 9%, after it scrapped talks with Spain's private equity-backed Moeve on a potential downstream combination, overshadowing Q3 results.

Quite a lot going on for a Monday.

Taking a brief look at sectors, food and beverage .SX3P names across Europe were the biggest decliner, down 1.1%, while automobiles and parts .SXAP led gains, up 1.5%.

Major indices across Europe were mostly in positive territory, with the DAX .GDAXI and CAC .FCHI both rising 0.8%, and the FTSE .FTSE up 0.5%.

Elsewhere, the iShares MSCI Brazil ETF EWZ.P plunged 25%, while US-listed shares in Brazilian companies tumbled in premarket trading, after leftist President Luiz Inacio Lula da Silva won a historic fourth term on Sunday, in shock result that defied polls, precedent and global anti-incumbent sentiment.

(Sophie Kiderlin)

EARLIER ON LIVE MARKETS:

STAY AWAY FROM FRANCE FOR NOW, IT'S NOT ITALY, JPMORGAN SAYS CLICK HERE

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