- DAX (DE40) contracts are trading with limited volatility today, losing 0.5%
- Airbus, Rheinmetall, Adidas and MTU Aero Engines stand out with gains in the German market
- Optimistic comments from Hensoldt (HAG.DE); shares gain less than 1%
- ECB cut rates by 25 bps, in line with expectations; markets await US macro reading (claims, PPI) at 1:30 PM; dropping reference to keeping rates 'restrictive' from the statement (dovish); EURUSD loses, DE40 slightly gains after the decision
Today's sentiment in the European session is moderately positive, with the market awaiting a decision by the European Central Bank, which is likely to cut rates by another 25 bps today, to 3%. A conference call with ECB chair, Christine Lagarde will be held at 1:45 PM GMT.
The oil and gas sector and banks are leading the gains in the European session today. ADRs of Tesla and AMD and Korean Samsung are gaining. Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThe shares of Rheinmetall and MTU Aero Engines are returning to growth today. Siemens Energy continues yesterday's declines. Source: Bloomberg Finance L.P.
Hensoldt (HAG.DE) expects EBITDA to improve
German defense company Hensoldt expects strong growth in defense spending, and as a result raised some of its medium-term targets at its Investor Day. Adjusted EBITDA margin is expected to rise to around 20% in the medium term (18%-19% in 2024).
- In 2025, the company forecasts revenue growth in the low double-digit range, with an average annual growth rate of about 10% in the medium term. Revenue in 2024 is expected to be around €2.3 billion.
- Conversion of adjusted EBITDA to cash is expected to be around 50% in 2024, but slightly more like 50% to 60% in the medium term. Dividend payments are to remain stable at 30%-40% of net income.
- The company's goal is to generate about 50% of revenues in Germany, 30% in Europe and 20% in strategically important global markets by 2030.
Source: xStation5
DE40 (D1 interval)
Looking at the daily interval, the DE40 contract is still 'missing' a test of the upper limit of the upward price channel. The main support currently is the 50-session exponential moving average EMA50.
Source: xStation5
Source: xStation5
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