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DE30 loses slightly at the end of the week
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CPI reading from the US failed to improve market sentiment
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Results from Bechtle (BC8.DE) and Salzgitter (SZG.DE)
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Recommendation updates for individual European companies
This week's final trading session brings a deterioration in sentiment on European markets. The DE30 alone is currently losing almost 0.2%. Yesterday's CPI inflation reading from the USA - although optimistic - failed to improve global risk sentiment for much longer. The key macro readings of today's session will be the US PPI inflation report and UoM sentiment.
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Create account Try a demo Download mobile app Download mobile appSentiment in Europe deteriorated markedly during Friday's trading session, with most individual sectors posting losses on a daily basis. Source: xStation 5
Futures based on the German DE30 continue to trade within a narrow trading range bounded by the 50-day exponential moving average (blue curve) and the 100-day exponential moving average (purple curve). Source: xStation 5
News:
Shares of Bechtle (BC8.DE) are gaining more than 6% today on higher revenue and Q2 earnings. The company additionally expects se higher demand in the second part of this year. The company's EBIT came out at €96.12 million against last year's €89.80 million.
Source: xStation 5
The shares of Salzgitter (SZG.DE) are currently losing more than 1% as the Q1 report did not show any good updates. The company's EBIT came in at €242.6 million against last year's €970.5 million. Risk factors for the company remain weakening demand in the construction, steel trading and machinery sectors.
Source: xStation 5
Recommendations:
Following yesterday's publication of Henkel's (HEN3.DE) quarterly results, many banks updated their target prices for the company's shares. Berenberg raised its target price to €69 against the previous €58, JP Morgan raised its price to €73 (previously it was €70), Stifel also raised its target price to €73.
Barclays raised its target price for Novo Nordisk (NOVOB.DK) shares to DKK 1450 (previously DKK 1350).
Credit Suisse raised the target price for Sartorius Stedim (DIM.FR) shares to €280 (previously it was €250).
A number of changes for Siemens AG (SIE.DE):
Citigroup lowered target price to €190 against previous €200
JP Morgan lowered target price to €190 against previous €200
Morgan Stanley lowered target price to €164 vs. previous €170
Largest percentage changes in individual DAX index companies. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
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