- DAX gains ahead of ECB decision
- Merck and Sartorius shares on an upward wave
Overall market situation:
Thursday's session on European stock markets brings gains for most stock indexes. Germany's DAX is currently up 0.7%. Britain's FTSE 100 is gaining more than 0.33% at the same time. The French CAC40, meanwhile, is up 1.2%. Investor attention today turns to corporate news and the ECB's interest rate decision.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Germany's benchmark DE40 traded nearly 0.51% higher during Thursday's session and is back near historic highs. It seems that the key support/resistance points of the broad uptrend remain the 19,000-point zone, the 50-day EMA (blue curve on the chart) and the historical peak just broken out, which is now the main control zone for the supply and demand sides. Source: xStation
News:
Merck (MRK.DE) shares are gaining nearly 6% in today's session after a Phase 3 study of Merck's Capvaxive vaccine met primary and secondary immunogenicity targets. Moreover, the company raised the medium-term outlook for its electronics business ahead of Capital Markets Day. Sales growth for the electronics division was revised up to 5-9% from 3-6%, citing high demand for chips for artificial intelligence applications.
The upbeat sentiment on Merck was also due to sizable gains on Sartorius (SRT.DE) shares . The German laboratory equipment maker posted sequential order growth in its bioprocess solutions business, which analysts found reassuring.
NINE-MONTH RESULTS
- Adjusted EBITDA EUR 686.5 million, -6.4% y/y
- Sales €2.47 billion, -2.8% y/y
- Orders €2.33 billion, +5.7% y/y
- Adjusted EBITDA margin 27.7% vs. 28.8% y/y
ANNUAL FORECAST
- Company forecasts adjusted EBITDA margin 27% to 29%, estimated 28%
Nordea Bank (NDA.DK) gains after raising forecasts and unveiling share buyback plan. Nordea raised its 2024 return on equity forecast to more than 16%, having previously estimated a return on equity of more than 15%.
Nokia (NOKIA.FI) shares fell 5% after the 5G equipment maker lowered its full-year operating profit expectations, saying sales recovery is slower than expected.
Q3 RESULTS
- Adjusted operating profit €454 million, estimated €445.2 million
- Adjusted operating margin 10.5%, estimated 9.45%
- Adjusted gross margin 45.7%, estimated 42.8%
ANNUAL FORECAST
- Adjusted operating profit will be in the lower half of the range of €2.3 billion to €2.9 billion, estimated €2.35 billion
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
