- European indices open lower
- The Euro and the US Dollar are trading higher
- DAX is unchanged at 17,620 points
European indices are opening lower. Practically all exchanges, except for the Swiss SMI Index, which gains 0.30% at the time of publication, are recording declines. The drops in other markets are not significant and range between 0.00-0.45%. The largest decreases are seen in the UK market - UK100 loses 0.45%, and in Italy - ITA40 drops by 0.35%. The German DAX index is trading without major changes, hovering around yesterday's highs at 17,620 points.
DAX
The German DAX index set a new record level yesterday at 17,620 points, and as of the current publication, the index price is consolidating in this area. However, a strong dollar may increase downward pressure in the second half of the session. In such a case, it is important to watch the opening on Wall Street and upcoming comments from central bankers.
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Source: xStation 5
Company News
British telecoms giant Vodafone (VOD.UK) is in advanced negotiations to sell its Italian division to Swisscom, with a preliminary agreement set at eight billion euros ($8.7 billion). This development comes after Vodafone had previously turned down proposals from Xavier Niel's Iliad group, seeking to explore market consolidation in Italy. Vodafone believes the deal with Swisscom offers the most favorable mix of value creation, immediate cash proceeds, and transaction certainty for its shareholders.
Source: xStation 5
Hellofresh (HFG.DE) gains almost 4.00% following the new recommendation published by JPMorgan. The Berlin-based meal-kit delivery company new price target is set at 18 euros, down from 20 euros, yet JPMorgan continues to hold an "Overweight" rating for the company. Additionally, Hellofresh has been added to JPMorgan's esteemed "Analyst Focus List."
Source: xStation 5
CAPITA (CPI.UK) a UK-based technology outsourcing firm, has secured an uncontested extension to a major contract with Northern Ireland's Education Authority valued at £33 million ($41.8 million). This deal increases the total worth of the IT contract, which commenced in 2012, to an impressive £546 million ($692 million), accounting for approximately a fifth of the Authority's annual budget.
Lerøy Seafood Group (LSG.NO) is gaining over 12% after the company reported better than expected earnings report. In 2023, LSG's revenue surpassed NOK 30 billion for the first time, and recorded an operating profit of NOK 765 million in the fourth quarter. The company encountered specific issues in its Farming sector due to environmental factors, while its Wild Catch earnings remained stable. Lerøy is focused on achieving its 2025 strategic goals, particularly in enhancing fish welfare and biological performance in farming, with a target of 205,000 harvest volumes in Norway. The company is making progress with new technologies like submerged cages and shielding technology for salmon, aiming for one-third of its salmon to be shielded by the end of 2024.
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