- DE30 in zone of key 2023 minima
- Investors await ECB decision with uncertainty
- Metals and mining sector leads gains in today's session
Overall market situation:
Thursday's session on European markets brings moderate increases in the quotations of most companies. However, investors await the ECB's decision on interest rates, which will be the macro event of the day, with uncertainty. A little later, investors will learn important data coming out of the U.S. economy, which could still affect expectations for next week's scheduled FOMC decision.Ā
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At the moment, most companies listed in Europe during Thursday's trading session are posting gains. Metals-related companies are doing particularly well, having gained sharply after China lowered reserve requirements and Chinese steel mills increased iron production due to a seasonal surge in construction demand after the summer (while supplies remain tight). JP Morgan raised expectations for BHP Group, Anglo America and Rio Tinto. Source: xStation 5
Quotes of contracts based on the German DE30 are gaining nearly 0.32% today (however, ignoring the futures rollover, the rally is only 0.06%). The instrument is holding near support zones set near the 15,700-point zone. Source: xStation 5
News
European automotive companies are losing value today on concerns over a potential trade dispute between Europe and China. We presented you with more information on this issue here.
The STOXX Europe 600 Auto Index is losing 1.5%, after Beijing warned the European Commission that an investigation into electric vehicle subsidies from China could damage trade relations. Source: xStation 5
Barclays downgraded its outlook for BMW (BMW.DE) shares to uderweight due to limited room for EBITDA expansion in the medium term. Moreover, the bank admonished that BMW has the most exposure to the Chinese market relative to other European companies in the sector. The target price was set at 92.5 euros per share.Ā
Citi raised its rating on shares of Telefonica Deutschland (02D.DE) to Buy from an earlier Hold. Target price at ā¬2.Ā
Morgan Stanley downgraded its recommendation on shares of Lanxess (LXS.DE) to an "equal-weight" rating from an earlier "overweight" in view of the delayed potential for a cycle recovery in the specialty chemicals sector.Ā
The largest percentage changes in individual companies in 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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