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Dax reduces some of the declines from the start of the day
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News of a possible takeover of Covestro (1COV.DE) fuels the company's shares
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Lanxess (LXS.DE) spoils the mood in the chemical sector
The second part of today's European session brings an improvement in investor sentiment relatively to the downward start to the day. The German DE30 is down nearly 0.45% today and is attempting to get back above the support levels set by previously broken local peaks. Investors' attention in recent minutes has been focused on Covestro, which is gaining strongly on the wave of rumours of a possible takeover by the Abu Dhabi-based company.
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Open account Try demo Download mobile app Download mobile appThe mood in Europe during the first trading session of the week is relatively negative, but much of the decline from the beginning of the session has already been negated. Source: xStation 5
German DE30 futures are trading close to 0.45% down today and are trying to get back above the support levels set by previously broken local peaks. Source: xStation 5
News:
Covestro (1COV.DE) shares are gaining 9% following news of a potential takeover of the company by ADNOC (Abu Dhabi National Oil Company). At this point, details on the transaction are unknown. The information comes from anonymous sources familiar with the matter, Bloomberg reported.
Walory spółki Coverstro (1COV.DE), interwał D1. Źródło: xStation 5
The topic of the day on trading floors in Germany and other stock exchanges in Europe was the earnings warning from the company Lanxess (LXS.DE). The company decided to lower its operating profit forecasts for the second quarter and the full year, reporting that it does not see demand recovering in June. In the wake of this news, LXS's stock price today slid to its lowest levels in three years. You can read more about the whole issue here.
BNP Exane upgraded shares of Heidelberg Cement (HEI.DE) to an "outperform" rating. The company's shares are reducing the declines from the beginning of the session.
The healthcare sector was supported today by Sanofi (SAN.FR) shares, trading up nearly 4% following the ruling of the International Chamber of Commerce, which ruled in its favour in an arbitration case involving claims by Boehringer Ingelheim that Sanofi should be held liable for pending litigation over the drug Zantac in the United States.
Sanofi (SAN.FR)'s quotations started today's session with a bullish price gap, the extent of which exceeded the important resistance set by the 50-day exponential moving average (blue curve). Source: xStation 5
Largest percentage changes of individual companies in the DAX index. . Source: Bloomberg
Largest percentage changes and information from individual companies in the DAX index. Source: Bloomberg
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