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Old Continent mixed before Powell testimony
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Zalando gains after strong financial results
The mood on the Old Continent is under pressure today ahead of Powell's first day of hearings before the US Senate. The market is expecting a hawkish tone from the Fed chairman given the good data coming out of the US economy. In addition, investors will learn about US wholesale inventories data.
The ECB's consumer survey suggests that consumer inflation expectations for the next 12 months have fallen from 5.0 to 4.9 per cent, while three-year expectations have fallen from 3.0 to 2.5 per cent. In addition, nominal income growth over the next 12 months is seen at 1.3%, compared to the 1.0% seen in December. This suggests that the ECB may have room for less hawkish action.
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Synlab (SYAB.DE) shares are gaining during today's session due to HSBC's upgraded recommendation to buy from its previous hold rating. Target price at €10, 40% up from previous.
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HelloFresh (HFG.DE) shares are losing sharply following the publication of weak earnings forecasts. The company intends to grow its customer base and rejects cost-cutting in the background. Adjusted EBITDA is expected to be between EUR 460 and 540 million next year. Previously, the prediction was for €542.6 million.
Q4 results. Source: Bloomberg
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Zalando (ZAL.DE) shares are doing very well, reacting bullishly to the publication of better-than-expected results for 2022. Turning its attention to maximising earnings has enabled a significant improvement in performance. The shares are currently trading up nearly 6%.
Details of the company's results and forecasts. Source: Bloomberg
Changes in the institution's holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
Major percentage changes and information from individual companies in the DAX index. Source: Bloomberg
DE30 chart:
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