- Citi downgrades recommendation for Lufthansa (LHA.DE)
- Oil companies a stronghold of gains in Europe
Overall market situation:
Wednesday's session on European markets brings a deterioration in sentiment among investors, who view the escalating conflict in the Middle East with concern. Rising oil prices are driving oil companies, which are a bastion of growth in the broad market of the Old Continent.
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At the moment, most companies listed in Europe during Wednesday's trading session are down. Source: xStation 5
Futures based on the German DE30 are trading nearly 0.72% lower on an intraday basis and are down to the zones of this week's local minima. Source: xStation 5
News:
Citi has downgraded its recommendation on Lufthansa (LHA.DE) to a "neutral" rating. Target price at €7.9 per share. The company's shares are currently losing more than 4%.
Source: xStation 5
Flatexdegiro (FTK.DE) shares are gaining nearly 10% following the release of quarterly results.
Flatexdegiro's Q3 adjusted EBITDA margin at 40.6%. EBITDA margin in Q3 at 39.4%. Q3 EBITDA of €40 million (. Q3 revenue of €101.4 million vs. IBES estimate of €93.5 million. The company said it expects further margin improvement in Q4 2023.
Source: xStation 5
Energy company stocks in Europe are once again gaining, thanks to rising oil prices and continued geopolitical risks. Barclays analysts have communicated that with the escalating conflict in the Middle East, the distribution of power in the energy market is becoming more favorable for capital allocation.
Despite market-wide sell-offs, oil companies are doing very well. Source: xStation 5
The largest percentage changes in individual companies in the DAX index. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
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