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European markets without a common direction
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The Dutch investment company Exor NV , controlled by the Italian Agnelli family, has acquired a 15% stake in the Philips Group (PHIA.NL) for around €2.6 billion.
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Gerresheimer (GXI.DE) with a "buy" rating from Jefferies
This week's first trading session brings moderate rallies on the German equity market. Even though the scale of the European market movements is not very large, the DAX still shows better trading dynamics compared to the other indices. The macro calendar itself for today's session is almost empty, so investors will turn their attention to incoming data from individual companies.
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Create account Try a demo Download mobile app Download mobile appThe mood in Europe during Monday's trading session is slightly better, but each company within the sub-sectors concerned does not show a uniform dynamic and direction of change. Source: xStation 5
Futures based on the German DE30 continue to trade in a narrow range bounded by the 50-day exponential moving average (blue curve) and the 100-day exponential moving average (purple curve). Today, the contracts are trading up 0.2%. Source: xStation 5
News
Jefferies initiated analyst coverage on Gerresheimer (GXI.DE) with a 'buy' rating and a target price of €143 per share. The institution's analyst sees revenue growth above 10% and adjusted Ebitda growth above 15%. The analyst bases his assessment on the company's move towards innovative solutions, which could positively impact margin growth in the long term. The company's shares are currently gaining close to 1.5%.
Source: xStation 5
Hauck & Aufhaeuser upgrades its valuation of the shares of Bechtle (BC8.DE) to 'buy' and sets a target price of €54 per share. On Friday, the company reported better-than-expected quarterly results. The company's shares are currently gaining nearly 3%.
Source: xStation 5
Dutch investment firm Exor NV , controlled by the Italian Agnelli family, bought a 15% stake in Philips (PHIA.NL) for approximately €2.6 billion. Furthermore, the companies said that Exor, intends to be a long-term shareholder and has bought its stake on the open market. Exor added that it could increase its stake to a maximum of 20%. As Philips' CEO added: "Exor's significant investment underlines their confidence in Philips' transformation into a healthcare technology company and its potential for growth and value." Philips shares are currently gaining nearly 4%.
Source: xStation 5
Major percentage changes in individual companies of 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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