- European markets gain during Friday's trading session
- Financial results of LVMH support the share prices of luxury goods sector companies
European stock indexes clearly gain during Friday's trading session. Strong increases are seen in the luxury goods sector as well as in the energy and fuel sector. However, declines are observed in technology companies, the automotive industry, and IT. Investors' attention continues to focus on the quarterly results of companies from Europe and Wall Street. The results on one hand improve sentiment as in the case of yesterday's LVMH company report, and also deteriorate as in the case of weaker Tesla results.
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Create account Try a demo Download mobile app Download mobile appEuropean companies listed during Friday's trading session are mostly gaining at the moment. Source: xStation 5
DAX (DE40) quotations are approaching historical highs around 17,100 points. Today, the index gains 0.15% to 17,050 points. If the quotations close at the current levels, we will record a new record closing on the daily and weekly intervals. The key will be the publication of PCE data in the USA at 14:30. Lower readings may support the quotations. After yesterday's GDP data, this will mean that the US economy remains in very good condition, while at the same time inflationary pressure is slowly easing.
Source: xStation 5
Germany Business News
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The "Handelsblatt" reported, citing government sources, that the deficit for 2025 could be at least 13 billion euros. This comes as the 2024 federal budget, which underwent a lengthy struggle and adjustments, is set to be passed in the Bundestag next week. Finance Minister Christian Lindner has emphasized the necessity of maintaining a path of budget consolidation, indicating future efforts to increase financial flexibility.
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Consumer sentiment in Germany (GfK) has deteriorated sharply due to global crises and conflicts. The consumer sentiment indicator fell to -29.7 points in February from a revised -25.4 the previous month, contrary to expectations of an improvement to -24.5 by economists. Additionally, the economic outlook for the next twelve months is viewed more pessimistically, with the economic expectations' indicator dropping by 6.2% to -6.6, the lowest since December 2022.
Company News
Schott Pharma (1SXP.DE), a pharmaceutical supplier, is forecasting further growth in the upcoming financial year, with sales expected to rise by 9 to 11%. This follows a successful previous year as the company reported a 9% increase in sales to 899 million euros and a similar growth in EBITDA to 239 million euros. The operating margin stood at 26.6%.
The Lufthansa (LHA.DE) subsidiary, Discover Airlines, is facing a strike by its flight staff, initiated by the pilots' union Cockpit Association (VC). This has resulted in the cancellation of three flights to Cancun, Fuerteventura, and Tenerife, as well as their return journeys. The strike, joined by the cabin union UFO, is part of a 24-hour action to negotiate collective agreements for the recently established holiday airline, which operates 24 aircraft.
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