- European stocks gain during Wednesday's session
- Investors focus on companies' quarterly results
- ASML drives tech companies' shares
- LVMH spoils sentiment in French market, shares lose 6%
- Bigger orders drive Volvo shares
European stock indexes are trading higher during Wednesday's session. The DAX is currently gaining 0.75% on an intraday basis while France's CAC40 is losing 0.2% at the same time in the face of LVMH's weak results. Investor attention today turns to corporate news, quarterly results from ASML, LVMH, Tesla, Microsoft and Meta Platforms. The Fed's decision may prove equally important.
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Create account Try a demo Download mobile app Download mobile appVolatility currently observed in the European market. Technology companies in particular stand out from the broad background, gaining on the back of ASML's excellent quarterly results. Source: xStation
The German DE40 index today extends its previous bullish momentum and breaks out to new historic highs. The most important support for the index invariably remains the 50-day EMA (blue curve on the chart) and the recent peak broken out by the index in the 20,500-point zone. Technically, the DE40 continues to maintain a stable upward trend all the time. Source: xStation
News
Technology stocks are gaining today after ASML reported better-than-expected quarterly results. You can read more about the results here.
Source: xStation
Shares of Carl Zeis Meditec (AFX.DE) are gaining nearly 0.5% after Goldman Sachs bank raised its recommendation on the company's stock to a “neutral” rating with a target price of €60.
Continental AG's (CON.DE) automotive unit will struggle to increase sales in 2024 due to the difficult market environment, the company communicated. The company expects cost cuts to help offset higher wages and improve the unit's profitability in 2025, but that doesn't change the fact that the company will face adversity related to raw material costs and uncertainty related to customs duties and political changes. The company's shares are currently losing nearly 1.5%.
Volvo (VOLVB.SE) shares are gaining nearly 5.5% after the company won more truck orders in Europe and North America in the fourth quarter, fueling confidence that it can improve profits this year.
Global net orders rose by about a quarter to 61,200 vehicles.
Other news from major German companies. Source: Bloomberg Financial
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