The end of October marks another month of trading as we head towards the end of the year. Both European and American equities posted losses for the second month in a row. The S&P 500 had its worst one-week loss since March amid a record of Covid-19 cases being reported in a single day and ended the month down by 2.77%. Cases of Covid-19 also rose in Europe, resulting in some countries imposing new restrictions to curb the spread. The EURO STOXX 50 saw a decrease of 7.37% at the end of October.
In this article, we discuss the companies that made an appearance on the map for the first time this year and share October’s biggest winner and loser.
Newcomers on the map
While we see some companies on the map month after month, four companies were traded the most for the first time, making their debut on our map.
Evolution Gaming Group
Evolution Gaming is a Sweden-based gambling company operating in the Internet-services sector. The company develops, produces, markets and licenses fully-integrated business-to-business (B2B) live casino solutions for online casino operators. Some of their customers include Draft Kings, Betfair and Betsson.
In Evolution’s Q3 report published in October, it disclosed that revenue had increased by 48%. It also said that it is hoping to close a deal with NetEnt, a software provider of casino games, in the fourth quarter pending approval from regulators. Share prices were up by 11.13% at the end of the month.
Genomic Vision
Genomic Vision is a small-cap biotechnology company based in France. It specialises in molecular diagnostics, focusing on DNA analysis and genetic testing in the fields of cancer, pharmacogenomics and rare inherited disorders.
In October, Genomic Vision announced that it had entered into a contract with Todo Pharma to distribute two rapid diagnostic tests for SARS-CoV-2, the virus that causes Covid-19. The tests are called Coronadiag+ and Coronadiag Ag and are manufactured by Todo Pharma. The two tests in kit form increase the probability of detecting SARS-CoV-2 and results can be provided in 15 minutes. Genomic Vision’s post gains of 287.21% at the end of the month.
SAP
SAP, which stands for Systems, Applications and Products in Data Processing, is a multinational software company headquartered in Germany. It is one of Europe’s largest tech companies and is a market leader in enterprise resource planning (ERP) software. SAP is also a top cloud company, with 200 million users worldwide.
At the end of the month, SAP cut its revenue forecast for the rest of 2020 and said that it expects a new wave of Covid-19 lockdowns to hurt demand during the first half of 2021. Following this, SAP experienced its biggest one-day loss in 24 years and more than €35 billion in market value was erased. Share prices for SAP were down by 31.09% at the end of the month.
Wienerberger
Wienerberger is an international building materials company based in Austria. Since it was founded in 1819, the company is now the world’s largest producer of clay blocks and bricks. Aside from blocks and bricks, Wienerberger manufactures roof tiles, pipes, pavers and more.
The company is expected to release its results for the third quarter during the first half of November and finished October down by 3.90%.
Biggest movements
Not only did Genomic Vision and SAP make an appearance on the map for the first time in October, but they were also the winner and loser of the month. As mentioned, Genomic Vision ended October up by 287.21% and SAP was down by 31.09%.
The information in this article is not written for advisory purposes, nor does it intend to recommend any investments. Please be aware that facts may have changed since the article was originally written.
Sources: Bloomberg, Reuters, Yahoo Finance, Genomic Vision, Evolution Gaming, SAP, Wienerberger
