- European stocks in mixed mood midway through Tuesday's session
- Markets will be watching closely for Trump's possible announcements on new US policies
European stock indices traded slightly lower during Tuesday's session after the euphoria over Trump's presidency began to subside. However, this does not change the fact that indexes from the Old Continent are technically maintaining medium-term upward trends. The DAX is currently losing 0.15% on an intraday basis while France's CAC40, is adding 0.12% over the same period.
Investors' attention today turns to corporate news and potential comments from Trump, who will begin his first day in office of his second term in the White House today.
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Volatility currently observed in the European market. Against a broad background, companies representing the luxury goods sector stand out in particular. Source: xStation
The German DE40 index is losing its previous bullish momentum today, although the scale of the pullback is not large enough to negate the overall trend prevailing on the instrument. The most important support for the index invariably remains the 50-day EMA (blue curve on the chart). Technically, DE40 continues to maintain a stable upward trend all the time. Source: xStation
News
Car sales in Europe barely rose last year, as persistent inflation, higher borrowing costs and apathy toward electric models prompted consumers to hold off on buying vehicles. New car registrations in the region rose 0.9% to 13 million units from a year earlier (EVs were down 1.3% y/y)
Cars from the Volkswagen Group (VOW1.DE) and Renault (RNO.FR) posted the largest increases. Source: Bloomberg Financial LP
Sainsbury's (SBRY.UK) shares are losing 1.74% in today's session after Morgan Stanley downgraded its recommendation on the company's stock to “underweight.” The target price was set at 276 pence.
Shares of companies in the mining/metallurgical sector are losing ground today, despite the fact that overall the sector has regained some ground since the beginning of the year. Today, the pressure on the sector is mainly due to declines in the stocks of industrial metals, copper and iron. Interestingly, the declines were also not halted by President Donald Trump's comments about holding off on immediate tariffs. This condition would potentially indicate a better demand backdrop for the sector and could support valuations of these companies.
Earlier in the day, the sector had historically shown a linear correlation to ISM manufacturing data. Source: Bloomberg Financial LP
Other news from major German companies. Source: Bloomberg Financial LP
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