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European markets trade mixed
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DE30 recovers from morning dip
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Siemens Healthineers to release new mid-term targets in November
Stocks in Europe are trading mixed on Thursday. Indices from Germany, the Netherlands, Spain and Italy gain while stocks in France, the United Kingdom, Portugal and Poland pull back. However, the range of moves is small and in most cases does not exceed 0.3%. While the economic calendar is almost empty today, US CPI reading at 1:30 pm BST may trigger some short-term volatility on equity markets with higher than expected readings being potentially negative for stocks and positive for the US dollar.
Source: xStation5
DE30 keeps recovering from last week's drop. The index climbed above the price zone marked with 38.2% retracement of the upward impulse launched in mid-July and tested resistance at 23.6% retracement (15,800 pts area). Index pulled back overnight and tested the aforementioned 38.2% retracement once again this morning - this time as a support. A point to note is that the recovery move launched on Thursday last week is exhibiting a clear uptrend structure with higher highs and higher lows. Having said that, the base case scenario looks to be for the upward move to continue.
Company News
Vonovia (VNA.DE) has waived all the conditions, including minimum acceptance threshold, for its bid for Deutsche Wohnen (DWNI.DE). Acceptance period was also extended from September 20 to October 4. As of September 13, 2021 offer acceptances stood at 34.51%.
Bernd Montag, CEO of Siemens Healthineers (SHL.DE), said in an interview with Handelsblatt that his company will publish new medium-term goals in November. He also said that those new targets will be higher than current targets.
Analysts' actions
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Merck (MRK.DE) downgraded to "sell" at UBS. Price target set at €170
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Siemens Healthineers (SHL.DE) rated "buy" at Berenberg. Price target set at €64
Siemens Healthineers (SHL.DE) trades higher today after the CEO hinted that new medium-term targets will be higher than current targets. Stock is also supported by the price target boost it received at Berenberg. A look at the chart shows that share price launched recovery following a test of the lower limit of the market geometry near 23.6% retracement of an upward impulse launched a year ago. Source: xStation5
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