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Eurozone indices mixed at start of week
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US durable goods orders on the calendar
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Porsche and Ferrari hold up vote on internal combustion engine ban
The first trading session of the week on the German market brings mixed sentiment. Other markets in Europe are behaving similarly, consolidating ahead of an interesting week filled with important macro publications. Today we learned Sentix sentiment data and the Eurozone retail sales report, while the US durable goods orders report awaits investors all the time.
Lane from the ECB indicates that inflationary pressures suggest the need for further hikes after the ECB's March decision (next week). Holzmann added that a restrictive interest rate only starts at 4%.
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Sales come in slightly below expectations at -2% y/y. Source: eurostat
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The shares of the Swiss bank Credit Suisse (CSGN.US) are under pressure at the start of the new week due to the news of the sale of all shares in the bank by Harris Associates, which has been Credit Suisse's largest shareholder for almost 20 years.
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Covestro (1COV.DE) shares are trading down today following Exane's downgrade of its recommendation on the company's shares from Outperform to Neutral.
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HSBC raises its recommendation on the shares of Lufthnasa (LHA.DE) to a buy rating from an earlier hold. The company, according to analysts, has an attractive valuation and stronger-than-expected demand.
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The companies Porsche (P911.DE) and Ferrari (RACE.IT) are coming out ahead and demanding the exclusion of synthetic e-fuels in the European Union's pushing through an agreement to ban vehicles with internal combustion engines by 2035. The governments of both countries, faced with comments from company representatives managed to cancel the vote on the bill. Porsche is vying to become a pioneer in the zero-emission fuel industry, aided by a huge e-fuel plant located in Punta Arenas, Patagonia, Chile.
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:
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