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DAX mixed ahead of tomorrow's ECB decision
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Uniper (UN01.DE) under increasing selling pressure
Today's trading session on the Old Continent brings declines in most stock market benchmarks. Investors' attention is focused today on interest rate decisions in Poland and Canada. We also learned a number of data from Europe.
Data:
Today's industrial production data in Germany surprised negatively.
Source: xStation 5
On the postitive side, however, Euroland GDP surprised, which was revised upward (from 3.9% to 4.1%).
Source: Eurostat
The swaps market is now pricing in a 63% chance of a 75 basis point rate hike by the ECB at its meeting next week. Source: Bloomberg
DE30 index chart, D1 interval. The benchmark German blue chips are trading down moderately today and are testing the area around 13,000 points. Source: xStation 5
Tuesday's German trading session brings mixed sentiment around most sectors of the DAX index.
The sizable declines continued today with the shares of Uniper (UN01.DE) currently losing nearly 9%. The reason all along has been NS1's suspension of gas supplies. Analysts at Credit Suisse lowered their recommendations for the company's shares from "neutral" to "underweight."
The issuance of convertible bonds for the complete acquisition of Siemens Gamesa (SGRE.ES) triggers strong declines in Siemens Energy (ENR.DE) shares.
Lufthansa's largest shareholder Klaus-Michael Kühne wants to increase his stake in the company by more than 15%. The airline's shares are gaining more than 2% during today's session.
Analyst action:
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Morgan Stanley lowered its target price for Allianz SE (ALV.DE) shares from €239 to €205.
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Morgan Stanley lowered its target price for Bayer (BAYN.DE) shares from €87 to €80.
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Berenberg raised its target price for RWE (RWE.DE) shares to €55 from €47.
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
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