- German DAX drops 0.55% to end the week
- Goldman Sachs raised its recommendation for Symrise shares
- Regulation of the European Union's aviation safety agency puts Airbus and Rolls-Royce shares under pressure
General market situation:
Friday's session on European stock markets brings a pullback on most stock indexes. Germany's DAX is currently one of the worst-performing indexes, trading down nearly 0.5%. At the same time, France's CAC40 is down 0.22%. The DAX is currently testing a key support point, set by the 50-day EMA. Investor attention today turns to GDP data from the Eurozone and reports from the US and Canadian labor markets.
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Volatility currently observed in the broad European market. Source: xStation
The German benchmark DE40 is trading nearly 0.55% lower during Friday's session and is currently testing a key support level set by the 50-day EMA (blue curve on the chart). A dynamic breakthrough of these zones could theoretically open the way for further declines towards the 100-day EMA. The key resistance point, on the other hand, remains the local peak in the 19,000-point zone. Source: xStation
News:
Goldman Sachs raised its recommendation on shares of Symrise (SY1.DE) to a “neutral” rating with a target price of €127. Previously, the bank's analyst recommended selling this company. The company's shares are gaining 1% today.
The hostile takeover of rival Banco Sabadell (SAB.ES) by BBVA (BBVA.ES) has been approved by the European Central Bank. This is the last key regulatory hurdle that Banco Bilbao Vizcaya Argentaria SA had to clear before Sabadell shareholders can vote on the deal.
Bank of America applauded the progress made in the wake of glyphosate lawsuits in the U.S. and raised its rating on Bayer (BAYN.DE) shares to “neutral.” Target price set at 31 euros.
The European Union's aviation safety agency will require one-time inspections of Airbus SE A350 engines after a mid-flight fire at Cathay Pacific Airways Ltd. forced the airline to temporarily ground some planes.
Airbus (AIR.DE) and Rolls-Royce Holdings Plc (RR.UK), which makes the Trent XWB engines that power the A350, previously said they were cooperating withEASA. The shares of these companies are currently losing more than 1%.
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
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