- European indices continue the gains started on Wall Street on Friday
- Hypoport releases its Q1 2024 results
- ECB's Lane reinforces dovish sentiment around decision toward interest rates
Overall market situation:
The first trading session on European markets this week brings gains for most indices. Germany's DAX gains 0.6% on the spot market, France's CAC 40 adds 0.41% and the Euro Stoxx 50 benchmark adds 0.40%. The stock market gains today, however, did not come from the corporate side. The week began relatively quiet in terms of news coming out of individual companies. Better market sentiment during Friday's session on Wall Street strengthens the buyers' side on the Old Continent today.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
European companies traded during Monday's trading session at the time of writing, with sharp increases. Source: xStation 5
Germany's benchmark DE40 is recording 0.21% gains during today's session. The upward movement initiated two weeks ago is continuously negated in the zone of 18,430 points, where we can now see a double peak formation. However, looking at the situation in a slightly broader perspective, the index has been continuously moving in an upward trend since the first half of November 2023 (this is evidenced by exponential moving averages). For the moment, it seems that the most important support zone of the uptrend is the 50-day moving average (blue curve on the chart). Source: xStation 5
News:
Bank of Ireland Governor and European Central Bank member Philip Lane said recent data from the eurozone has reassured him that inflation is returning to the 2% target, raising the likelihood of the first interest rate cut in June.
Deutsche Post (DHL.DE) intends to retire some 39 million of its own shares to increase the company's weighting in the DAX index. Deutsche Post's share capital is to be reduced accordingly as part of the withdrawal; each share will continue to represent €1 of share capital.
Hypoport (HYQ.DE) shares are up 1.2% after the release of its first-quarter 2024 results. The company posted €107.5 million in revenue and earnings per share of €0.45. The company confirmed earnings expectations for this fiscal year. Revenues are expected to reach at least €400 million. The company's EBIT is expected to reach between €10 million and €20 million. In Q1, it was €4.3 million.
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.
