Before the bell: also markets slightly snowed under

Wall Street remains closed today, eBay and Meta join forces, and UCB licenses an AI platform.

The average European stock fell by 0.4% yesterday, while the Bel20 slipped 0.1%. The biggest loser in the Belgian index was Elia, the high-voltage grid operator, whose shares dropped 7%. Analysts at Degroof Petercam added the company to their “uninvestable” shortlist, citing uncertainty around the timing and scale of a necessary capital increase. In the US, the S&P 500 (+0.2%) and Nasdaq (+0.1%) barely moved. Quantum computing stocks, however, plummeted after Nvidia’s CEO stated that quantum systems won’t become practically usable for another 15 to 30 years. Shares of Rigetti Computing, IonQ, and Quantum Computing all lost nearly half their value.

This morning in Asia, the Topix in Tokyo is down 1.1%, while the Hang Seng Index in Hong Kong remains unchanged. Later today, Germany will release its November trade balance, and we’ll look to the European Central Bank’s “economic bulletin.” Wall Street remains closed for a national day of mourning to honor late former president Jimmy Carter.

Going once, going twice

eBay and Meta have joined forces. Soon, listings from the eBay website will also appear on Facebook Marketplace. Interested buyers will be redirected to eBay’s site. This partnership likely stems from the €798 million fine imposed on Meta by the European Commission last year for unfair competition. eBay shareholders celebrated this expansion into a new market, sending the stock up 9.8%. However, the integration of eBay listings into Facebook Marketplace will initially only roll out in Germany, France, and the US. Belgian users will have to wait.

UCB + AI

Pharma company UCB has licensed XtalFold, an AI platform designed for the research and development of biologic drugs. These medications, based on living cells or organisms, are already used to combat various inflammatory conditions. According to UCB, several major pharmaceutical companies have already licensed XtalFold, developed by Ailux Biologics, and achieved significant results in various projects. UCB’s decision came after extensive testing and comparisons with alternative platforms, reinforcing their confidence in XtalFold’s potential to deliver new medicines to patients. Investors can still gain exposure to UCB through the monoholding Tubize, currently trading at a 51% discount.

Did you know…

mortgage giants Fannie Mae and Freddie Mac have surged over 200% since Donald Trump’s re-election? Surprisingly, it’s not Bitcoin (+46%), Tesla (+57%), or Nvidia (0%) leading the pack. The rise is driven by investor Bill Ackman’s expectation that the US government will privatize these mortgage firms.

This article was translated from Dutch and was originally published on Spaarvarkens.be.