- Symrise loses after profit warning
- RTL Group SA has agreed to sell its Dutch operations to DPG Media for €1.1 billion
Overall market situation:
Friday's session on European markets brings gains for most stock indexes. The German DAX is currently gaining 0.35%, while the benchmark Euro Stoxx 50 adds 0.52% intraday. The macro calendar today focused primarily on PMI readings from the world's major economies. Data in Europe indicated a further deterioration in business sentiment in the industrial and service sectors. We will learn the same data from the US at 2:45 pm GMT.
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European companies listed during Friday's trading session are mostly on the rise at the moment. Source: xStation 5
Germany's benchmark DAX is gaining nearly 0.71% during today's session (spot market). DE30 contracts alone, however, are trading near 1.78% gains. The index is trading at all-time highs. Source: xStation 5
News:
Symrise (SY1.DE) issued a profit warning after the close of trading yesterday due to inventory write-downs and the impact of foreign exchange rates. The company provided updated annual forecasts. Analysts at Deutsche Bank say the lower Ebitda margin target implies a lowering of Ebitda consensus by about 10% in the second part of this year. On the other hand, the company reaffirmed its 2028 earnings target. The company's shares are currently losing nearly 8.6%.
Source: Bloomberg Financial LP
UBS analysts are positive on European semiconductor company representatives. According to the financial institution, the advancing trend in electric car sales could favorably impact companies such as Infineon (IFX.DE) and STMicroelectronics (STM.FR) next year.
RTL Group SA (RRTL.DE) has agreed to sell its Dutch operations to DPG Media for €1.1 billion. The deal is expected to close in mid-2024, the German media company said in a statement on Friday. The company's shares are currently gaining nearly 4.3%.
Source: xStation
Analyst recommendations:
* MBB (MBB.DE): Oddo BHF initiated analyst coverage of the company with an "outperform" rating. The target price was set at €130.
* Deutsche Telekom (DTE.DE): Oddo BHF maintains an "outperform" rating on the company's stock. However, the target price for the company has been raised to €24 (previously it was €22).
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