- European markets in good mood at the start of the second half of Wednesday's trading
- ADP data, BoC and MPC decisions, and ISM report for the services sector in focus
- ASML will provide its largest customers with an extreme ultraviolet high-NA machine by the end of this year
General market situation:
Wednesday's session on European markets brings sizable gains in the quotations of most stock indices. Nearly 0.7% gains are currently being seen on the German DAX. At the same time, the French CAC40 adds 0.75%, the British FTSE 100 gains 0.3%, and the Polish WIG20 remains in the zone of yesterday's closes. For the moment, we are seeing near 0.3% gains in US 10-year Treasury bond yields. The most important macro readings of the day will be ADP data from the US, the BoC decision and the MPC, as well as ISM data for the service sector from the US.
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Volatility currently observed in the DAX index. Source: Bloomberg Financial LP
Volatility currently observed in the broad European market. Source: xStation
Germany's benchmark DE40 is up nearly 0.5% during today's session. The index continues to hold the structure of the downtrend initiated on May 16. The continuation of the downward trend led yesterday to the testing of a historically important support level in the zone of the 50-day exponential moving average (blue curve on the chart). Locally, the most important resistance all the time remains the historical peak at the level of 19,000 points, as well as the zone of 18,840 points, which is close to the current quotations (the index has violated this zone several times, and it has been a point of both support and resistance in the past). Source: xStation 5
News:
Analysts at Morgan Stanley have raised their recommendation for the stock by raising their recommendation for Stora Enso (STERV.FI) shares to an “overweight” rating from an earlier “equal-weight” rating. The target price was set at 15.30 euros per share.
Ryanair shares fluctuated after the carrier released traffic statistics for May. Both the number of passengers and the load factor improved compared to the previous year.
RESULTS FOR MAY
- Load factor 95%
Passengers 18.9 million
Air traffic +11%
Bayer (BAYN.DE) says the $2.25 billion Roundup verdict was reduced by 82% by a Philadelphia judge to about $400 million. The company's shares are currently gaining nearly 1%.
AMSL (ASML.NL) shares are up nearly 3.7% in today's session, following news from the company's CFO that all three of ASML's largest customers, viz: TSMC, Intel Corp. and Samsung, will receive the so-called extreme ultraviolet high-NA machine by the end of this year.
Other news coming from individual companies in the DAX index. Source: Bloomberg Financial LP
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