- European markets lose slightly ahead of US PCE report
- Frasers Group boosts investment in Hugo Boss
- Deutsche Bank expects weaker performance in bond and currency trading in the current quarter
Overall market situation:
This week's last session on European markets brings moderate declines in most indices. Germany's DAX is currently losing nearly 0.1%, France's CAC40 is down 0.18% (pressured by losing luxury company stocks after weaker PMI data from China), and Spain's Ibex 35 is down 0.26%. Investors' attention now turns to the US PCE data reading scheduled for 2:30 pm. In Europe, a mixed reading of HICP data from the Eurozone and lower retail sales in Germany proved to be a key macro readings.
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European companies traded at mixed levels during Friday's trading session. Source: xStation 5
Volatility currently observed in the DAX index. Source: Bloomberg Financial LP
Germany's benchmark DE40 is down nearly 0.1% during today's session. The index continues to hold the structure of the downtrend initiated on May 16 (however, it was violated yesterday). In the medium term, the continuation of the downward trend may create a place to test the historically important support level in the zone of the 50-day exponential moving average (blue curve on the chart). Locally, the most important resistance all the time remains the historical peak at the level of 19,000 points, as well as the zone of 18,600 points, which is close to the current quotations (the index has violated this zone several times, and it has been a point of both support and resistance in the past). Source: xStation 5
News:
Frasers Group increases investment in Hugo Boss (BOSS.DE). The group now holds 1.7 million common shares, representing 2.47% of Hugo Boss' total share capital, and 9.8 million shares through the sale of put options, representing 13.92%.
Hugo Boss shares are gaining nearly 1.6% intraday today. Source: xStation
The Long-Term Issuer Default Rating (IDR) of Airbus (AIR.DE) has been affirmed by Fitch at A-. The positive outlook reflects expectations that Airbus will continue to improve its earnings and generate free cash flow in the short to medium term, which, along with the group's already strong capital structure and business profile, will support the rating upgrade.
The company's shares are currently losing 1,.7% on an intraday basis. Source: xStation
Germany announces a new €500 million arms package for Ukraine. It will include IRIS-T SLM and IRIS-T SLS medium-range air defense missiles, spare parts for artillery and Leopard tanks.
Deutsche Bank (DBK.DE) shares are the biggest losers on the DAX index, falling 2.3%. The bank expects weaker performance in bond and currency trading in the current quarter.
Synlab (SYAB.DE) shares are currently gaining 4.2% after Cinven (the company's majority shareholder) made a bid for the company's outstanding shares and thus intends to delist it from the stock market. The entity currently holds 87% of the company's shares.
Other news coming from individual companies in the DAX index. Source: Bloomberg Financial LP
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