The last trading session of 2022 on the Old Continent began with declines in the valuations of major listed companies. Futures on the German DAX index are currently trading near 0.7% declines. The macroeconomic calendar for today is empty, so investors will be looking at the sentiment of specific companies.
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Create account Try a demo Download mobile app Download mobile appThe swaps market is currently pricing in a nearly 88% chance of a 50 bps rate hike at the ECB's February meeting. A 50bp hike seems certain and in line with the ECB's announcements at its last meeting. Source: Bloomberg
DE30 index chart, D1 interval. Benchmark German blue chips are trading down during today's session. Source: xStation 5
Friday's session on the German market brings declines in most sectors of the economy. Source: Bloomberg
News:
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The CEO of Vonovia (VNA.DE) said he does not expect real estate prices to fall anytime soon, despite a jump in interest rate levels. Property values are expected to hold up due to low availability in major cities, among other factors. Demand is expected to outstrip supply all the time, according to the company's CEO. The construction of new properties and thus increasing supply is being hampered in particular by high prices for construction materials. Next year, Vonovia's lowest-paid employees are to receive a 10%-12% pay increase on a permanent basis, as well as an inflation allowance.
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The CEO of RWE (RWE.DE) said that setting a cap on gas prices at 180 euros is a mistake, and such a solution will not work as long as demand exceeds available supply and prices reach the barrier of the set limit.
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks of the DAX index (DE30). Source: Bloomberg
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