- DAX retested last week's lows
- Deutsche Bank cuts outlook for Zalando (ZAL.DE)
- UK Boohoo (BOO.UK) shares lose more than 8%.
Overall market situation:
Tuesday's trading session on European markets brings mixed sentiment from investors, who are looking uncertainly at this week's scheduled macro readings.
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Strong PMI data learned yesterday and the passage of a US funding bill to avoid a federal government shutdown lifted the dollar to 11-month highs and 10-year Treasury bond yields to their highest levels since 2007, putting pressure on risk-linked markets. Investors' attention will focus today on JOLTS data from the US at 3pm BST.
At the moment, companies listed in Europe are mostly trading higher. Source: xStation 5
Futures quotations based on the German DE30 index are recording slight declines in view. The benchmark temporarily broke out below the support set by last week's local minima. Source: xStation 5
News:
Barclays raised its recommendation on shares of Nemetschek (NEM.DE) to an "equal-weight" rating. The target price was set at €60 per share. The company's shares are trading up nearly 2.25% during today's session.
Source: xStation
Zalando (ZAL.DE) shares fell 2.8% after Deutsche Bank cut its adjusted EBIT forecast and lowered its target price for the company's shares. The bank cut its estimates for adjusted EBIT by 2% and TP to €31.5 from €37.
Source: xStation
Shares of UK-based Boohoo (BOO.UK) are down nearly 8%, after the company notified that a slower-than-expected rebound in sales volumes could result in lower earnings for the year.
Source: xStation5
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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