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European indices erases early gains
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Investor attention turns to PCE inflation report
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BASF down sharply after weak results and worse forecasts
This week's final trading session on the Old Continent, despite early gains, now brings declines for most benchmarks as they await the US PCE inflation reading. It is around the data reading scheduled for 01:30 pm GMT that investors' attention is focused for the end of this week. The consensus is that PCE inflation declined slightly in January. In addition, at 03:00 pm GMT we will learn the University of Michigan sentiment data and the new home sales report. The week will be rounded off with speeches by central bankers scheduled for today.Investor sentiment on the Old Continent is relatively mixed. Most European companies are posting slight gains at the end of the month. Source: xStation 5
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Investors' attention is focused on the shares of BASF (BAS.DE), which lost 6% in the wake of news that the share buyback programme has been halted and 2,600 employees laid off. As stated in the statement, the company is under pressure from the tough global economic situation. Investor sentiment is further weighed down by weak results for the financial year.
The company's published results disappointed investors. Source: Bloomberg
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As reported by Bloomberg, Deutsche Bank (DBK.DE) was at the time interested in the possibilities and analysed the individual segments of Credit Suisse bank against a possible acquisition of part of the business, anonymous sources said.
Changes in the institution's holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
Largest percentage changes and information from individual companies in the DAX index. Source: Bloomberg
DE30 chart:
DE30 futures are trading down on Friday and once again heading towards the support set by the 78.9% Fibo retracement. Source: xStation 5
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