|Bid||345.00 x 0|
|Ask||345.10 x 0|
|Day's Range||342.10 - 346.20|
|52 Week Range||231.20 - 360.70|
|PE Ratio (TTM)||33.80|
|Forward Dividend & Yield||0.57 (1.11%)|
|1y Target Est||N/A|
Denmark's Novozymes reported third-quarter sales and earnings ahead of forecasts on Wednesday and raised its outlook as more powerful enzymes products drove demand from ethanol makers, sending its shares up six percent to a two-year high. Ethanol is made by using enzymes to break down and ferment sugars in organic materials, such as corn, but second generation ethanol, made from more stubborn cellulose using new processes, could raise production. Sales at Novozymes' bioenergy unit rose by 16 percent in the quarter compared to the less than three percent expected by analysts, as ethanol firms chose the new products and showed improved buying power, Sydbank analyst Morten Imsgard said.
Danish enzymes maker Novozymes undershot market expectations in the second quarter pressured by cost cuts at detergent makers and a changed sales pattern in its cooperation with Monsanto. * Novozymes's second quarter result fell 2 percent to 735 million Danish crown ($116.3 million), below analysts expectations for a 2 percent rise. * The company lowered its guidance measured in Danish crowns, while maintaining it in local currencies.
European shares edged lower on Wednesday as a slump in education publisher Pearson's shares weighed on media stocks, though ASML and Novozymes gained after robust updates. The pan-European STOXX 600 index was down 0.2 percent in choppy trade, while Britain's blue-chip FTSE 100 index was flat, having fallen 1.5 percent in the previous session when a rise in sterling put pressure on its dollar-earning firms.
European shares edged higher on Wednesday in early deals, helped by a slew of well-received company results from ASML, Novozymes and Burberry, though shares in Pearson slumped after its update. The pan-European STOXX 600 index was up 0.3 percent in early trades, while Britain's blue-chip FTSE 100 index gained 0.4 percent, recovering some of its losses from the previous session when a rise in sterling put pressure on its dollar-earning firms. Shares in ASML gained 4.5 percent after, hitting an all-time high after its earnings beat forecasts, while Novozymes also rose 5.2 percent after its Q4 report.