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Dynamically losing banks spoil the mood on all markets
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BMW optimistic about the future
Wednesday's session on European markets once again failed to inspire optimism. The spectre of the banking crisis continues to loom over the market, driving bank shares dramatically downwards. It is also worth remembering the persistently high inflation rate, which puts pressure on central banks, which now have to grapple with problems from two sides. The retail sales and PPI inflation readings did not affect today's stock prices too sharply.
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The shares of BMW (BMW.DE) are performing relatively well despite the general panic on the markets in Europe. The company reported positive margin projections for 2023. EBIT margins are expected to reach between 8% and 10%, which bank analysts considered positive.
Details of BMW's projections. Source: Bloomberg
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As reported by E.ON (EOAN.DE), the European energy sector is still in a state of persistent vulnerability. Inadequate energy infrastructure supports the company's decision to commit more resources to investment. Spending is set to increase by ⅕, to €33bn by 2027. JP Morgan maintained a Neutral rating on the company's shares; target price at €10.5.
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Saudi National Bank, one of the main investors in Credit Suisse (CSGN.CH), conveyed that it could not provide further assistance. This would require increasing its stake in the bank above 10%, a level prevented by regulation. The shares are losing nearly 30% today.
Changes in institutional holdings in individual companies of the DAX index (last session's data). Source: Bloomberg
The largest percentage changes and information from individual companies in the DAX index. Source: Bloomberg
DE30 chart
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