- DE30 gains slightly at the start of the week
- European stock market focused on Polish elections
- Pfizer spoils sentiment in European biopharmaceuticals sector
Overall market situation:
Monday's session on European markets brings a moderate improvement in the sentiment observed on exchanges from the Old Continent. Investors' attention is focused today on Poland, where the local W20 index is trading up nearly 4.5% on the back of preliminary late polls on the parliamentary elections in Poland. The other key theme in the market remains the conflict in the Middle East, which continues to escalate.
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At the moment, most of the companies listed in Europe during Monday's trading session are posting gains. Source: xStation 5
Futures based on the German DE30 are trading nearly 0.25% higher intraday and remain in the zone of a narrow range of movement near the minimums of early October. Source: xStation 5
News:
Pfizer's worse-than-expected results are knocking down the stock price of biopharmaceutical companies on the European stock market. What's more, the company lowered its earnings forecast due to weaker vaccine sales at Covid.
Source: xStation5
Hauck & Aufhaeuser upgraded shares of MTU Aero (MTX.DE) to a "buy" rating. The target price was set at 196 euros. The company is gaining nearly 0.2% on the stock market today.
JPMorgan upgraded shares of Salzgitter (SZG.DE) to a "neutral" rating. Target price at 27.6 euros per share. The company's shares are gaining 4.85% today.
Source: xStation 5
Barclays lowered its outlook on Ocado (OCDO.UK) shares to an "underweight" rating from its previous equal-weight rating. The target price was lowered to GBP4.3 versus GBP6.8 per share.
Source: xStation 5
Other recommendations:
Novo Nordisk (NOVOB.DK): Barclays raises price to DKK 760 from previous DKK 745; Citi DKK 815 from previous DKK 745; Stifel DKK 760 from previous DKK 745.
Puma (PUM.DE): UBS 57 euros from earlier 66 euros
Adidas (ADS.DE): UBS 210 euros from earlier 218 euros
Largest percentage changes in individual companies in the DAX index. Source: Bloomberg Finance L.P.
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