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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

DE30 at all-time high📈

11:32 6 December 2023
  • German DE30 breaks out to highest levels in history
  • Failed clinical trials lift Merck shares 12% lower
  • Bayer rebounds despite court ruling

Overall market situation:

Wednesday's session on the German stock market brings rallies for the main German benchmark, which has broken out to its highest levels of all time. Investors' attention will focus today on the ADP report and the BoC decision. German factory orders for October fell 3.7% MoM (an increase of 0.2% MoM was expected; previous: 0.2% MoM) On an annualized basis, this is a decline of 7.3% YoY against an expected decline of 3.9% YoY and a previous decline of 4.3% YoY. A drop in anticipation of further interest rate hikes by major central banks is driving stock markets in Europe today. 

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European companies traded slightly higher during Wednesday's trading session at the moment. Source: xStation 5

The DE30 is gaining nearly 0.24% during today's session and is trading in the zone of historical highs. Source: xStation 5

News:

Merck (MRK.DE) shares are losing more than 12.3% during today's session. The experimental drug evobrutinib failed in two late trials of patients with relapsing forms of multiple sclerosis.

The company's drug did not show sufficient efficacy in reducing annual relapse rates compared to Aubagio, an oral drug for the disease owned by the Sanofi Corporation (SAN.FR). As a result, the drug failed to meet the main objective of the study, Merck reported.

Source: xStation

Bayer (BAYN.DE) shares rebounded today, gaining more than 2%, even though a U.S. court ordered the company on Tuesday to pay $3.5 million in damages to Pennsylvania resident Kelly Martel, who attributed her non-Hodgkin's lymphoma to the use of the herbicide Roundup. Analysts comment that the amount of damages itself is small, and furthermore, the judge is very likely to reduce the amount. The company itself intends to appeal the verdict (it believes it has a strong case on appeal).

Source: xStation 

Analyst recommendations:

* MorphoSys (MOR.DE): Leerink initiated analyst coverage of the company with a "market perform" rating. Target price set at €22.

* Fresenius (FRE.DE): UBS reiterated a "buy" recommendation on the stock. Target price at 34 euros. The bank noted that the pause in dividend payments may be due to the company's desire for greater deleveraging.

* Allianz (ALV.DE): JP Morgan reiterated a "buy" recommendation on the stock. Target price set at €270.

 

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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