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Good session in Asia supports sentiment in Europe
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GfK consumer confidence index slightly below expectations
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Kuwait Wealth Fund sells part of Mercedes-Benz shares
Wednesday's session on European markets brings rallies for most benchmarks from the Old Continent. The good mood is a direct result of the good session in Asia. Investors' attention today is primarily focused on the situation of individual companies. The macro calendar for today's session does not include top-level events. Investors will hear statements from bankers of the most important central banks.
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Changes in institutional holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
Infineon Technologies (IFX.DE) raised expectations for revenue performance for the quarter and full year, citing higher demand for goods from the automotive and industrial sectors. Revenues for the second quarter are now expected to reach more than €4 billion compared to the previously expected €3.9 billion.
Details of the increased earnings forecasts. Source: Bloomberg
The shares of Heidelberger Druckmaschinen (HDD.DE) are seeing sizable rises today on the back of an upgraded rating on the company by Berenberg. The entity stated that a number of factors are strengthening sentiment around the company. Analyst Tore Fangmann says the company has now returned to growth after experiencing a decline in the commercial end-use printing market over the past few years.
Mercedes-Benz (MBG.DE) shares are under downward pressure today, losing following the resale of €1.4 billion worth of the company's shares by the Kuwait Wealth Fund. However, the decision was communicated to the company in advance and the fund itself intends to maintain its position as a key shareholder in Mercedes-Benz.
A US Senate committee communicated that it suspects Credit Suisse (CSGN.CH) of being involved all along in helping wealthy Americans avoid paying taxes through the IRS.
Major percentage changes and news from individual companies in the DAX index. Source: Bloomberg
DE30 chart
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