Stock markets in Europe are losing ground on Monday as investors are anxiously watching the latest updates on the conflict in the Middle East. In the cash market, the German DAX is currently down 0.54%, the French CAC40 is down 0.8% and the British FTSE100 is down 0.23%. Today, investors’ attention turns to the PMI data for June.
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Create account Try a demo Download mobile app Download mobile appVolatility currently observed in the broader European market. Source: xStation
The German DE40 index is losing ground today, although the instrument is still in the support zone of the 50-day exponential moving average (blue line on the chart). As long as the D40 stays above this zone, the overall uptrend remains stable (as indicated by the exponential moving averages). The 14-day RSI indicator is returning to the 45-point area. Source: xStation
Market news
Positive Phase I/II data for investigational antibody NXT007 in people with haemophilia A support its progression to Phase III clinical development, Roche said in a statement. Roche (ROG.CH) shares are down nearly 0.2% in today’s session.
Meanwhile, Novo Nordisk (NOVOB.DK) said the study suggests patients can safely switch to its experimental haemophilia drug from a competing Roche product. NOVOB shares are down 5% today.
Morgan Stanley says the reinsurance industry’s golden age is coming to an end, downgrading Munich Re (MUV2.DE) and Swiss Re (SREN.CH) to “underweight” ratings. The stocks are down 2% and 1%, respectively, in today’s session.
More news from individual DAX stocks. Source: Bloomberg Financial LP
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