- DE40 knocks out new ATH
- Rheinmetall gains nearly 2%
- Norma Group presents forecasts for 2024
Overall market situation:
Tuesday's session on European stock markets is marked by bullishness. Germany's DAX is currently gaining nearly 0.62% and has broken out to new historic highs. GfK data came in slightly higher than analysts' expectations. The macro calendar will focus on regional data from Richmond, CB data and durable goods orders.
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European companies listed during Tuesday's trading session are mostly on the rise at the moment. Source: xStation 5
Germany's benchmark DE40 is trading up 0.62% during today's session. The main control level remains around 18155 points. A downward break through these zones could encourage the supply side to initiate a corrective move. Source: xStation 5
News:
Rheimentall (RHM.DE) shares are gaining 1.8% after Berenberg raised its target price on the company's shares to 590 euros from 425 euros previously. What's more, the company will receive €130 million in European Union funds to expand its ammunition production capacity, the German arms manufacturer said Tuesday.
The outlook for fastening technology manufacturer Norma Group (NOEJ.DE), whose share price rose 4.9 percent, was well received by the market.
Forecast for 2024:
- Group sales of about €1.2-1.3 billion; adjusted ebit margin of about 8.0-8.5 percent.
- Net cash flow from operations in 2024 will be between about €80 million and €110 million.
Moreover, the company has proposed a dividend payment of €0.45 per share. The company's shares are currently gaining nearly 4.25%.
Hanover Re (HNR.DE) is combining its expertise in cyber and digital underwriting in a new specialized reinsurance business unit. The new business unit will be established on April 1, 2024. The company's shares are currently gaining 0.85%.
Other news about individual companies included in the DAX index. Source: Bloomberg Financial LP
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