Stock markets in Europe are gaining value on Thursday and extending the strong gains seen across the broader stock market, not just in Europe. Currently, the German DAX is adding 0.5%, the French CAC40 is up 0.2% and the British FTSE100 is up 0.34%. Today, investors’ attention is turning to US GDP data and corporate news.
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Create account Try a demo Download mobile app Download mobile appCurrent volatility in the broader European market. Source: xStation
The German DE40 index is gaining 0.71% today and 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 defined by the exponential moving averages). The 14-day RSI indicator is returning to the 53-point area (neutral values). Source: xStation
Market news
Shell (SHELL.NL) says it has not actively considered making a takeover bid for BP (BP.UK), has not been contacted by the company and has not held any talks with BP about a possible bid, according to a statement.
H&M (HMB.SE) shares are up 3.5% after the Swedish retailer reported better-than-expected second-quarter results.
SECOND-QUARTER RESULTS
- Operating profit SEK 5.91 billion, estimated SEK 5.77 billion
- Profit before tax SEK 5.29 billion, estimated SEK 5.31 billion
- Sales SEK 56.71 billion, estimated SEK 57.06 billion
- Gross margin 55.4%, estimated 55.2%
- Operating margin 10.4%, estimated 10.3%
What does Sell-Side do?
- EQT shares still have a bullish outlook despite a strong performance since hitting lows in April, Citi writes, raising the Swedish investment firm’s rating from neutral to buy.
- Morgan Stanley downgraded Continental, highlighting headwinds for the auto parts sector in Europe.
More news from individual DAX companies. Source: Bloomberg Financial LP
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