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DE30 loses and tests 12,600 point area
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Germany's manufacturing PMI worse than expected
Thursday's German trading session brings declines in the DE30 index. Investors' attention today is focused on PMI readings from Europe and the US, as well as the US ISM index. Germany's manufacturing PMI index fared worse, at 49.1, against expectations of 49.8 and the same previous level.
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Create account Try a demo Download mobile app Download mobile appThe swap market is currently pricing in a 70% chance of a 75 basis point rate hike by the ECB at its meeting next week. Source: Bloomberg
DE30 index chart, D1 interval. The benchmark German blue chips are trading down today and tested the 12,600-point area today. Source: xStation 5
Thursday's German trading session brings declines in all components of the DAX index. The real estate and industrial sectors are performing particularly poorly.
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Under downward pressure today are Lufthnasa (LHA.DE) shares, which are losing due to the pilots' strike that begins tomorrow. The airline will cancel nearly 800 flights on that day.
Analyst action:
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Kion (KGX.DE) upgraded to "overweight" by JP Morgan. Target price at 58 euros.
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Hapag-Lloyd (HLAG.DE) downgraded to "reduce" by HSBC. Target price at 193 euros.
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GEA Group (G1A.DE) downgraded to "underweight" by JP Morgan. Target price at 31 euros.
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
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