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Energy companies unwind recent declines
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DE30 records moderate gains
Tuesday's trading session on the German market brings moderate gains to the benchmark DAX. Investors' attention today is focused on readings from the US, in particular the durable goods orders reading and the Conference Board consumer confidence index.
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Create account Try a demo Download mobile app Download mobile appThe swap market is currently pricing in a near 91% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg
DE30 index chart, D1 interval. The benchmark German blue chips are trading higher today, oscillating between this year's low and resistance at 12360 points. Source: xStation 5
Tuesday's session on the German market brings higher valuations for most economic sectors. Financial and real estate companies are under downward pressure. Source: Bloomberg
News:
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Good sentiment was maintained today by Germany's largest energy suppliers, with Uniper (UN01.DE) and Verbio (VBK.DE) gaining more than 6%. Verbio said sales rose 77% to €1.8 billion in the 12 months to the end of June. The operating result of €503 million is even about 3x higher than the previous year. Uniper's shares continue their rebound after recent sell-offs.
Bank recommendations:
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Goldman Sachs cuts its recommendation on Adidas (ADS.DE) shares to a "neutral" rating. New target price at €170; previously it was €200.
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Deutsche Bank (DBK.DE) downgrades Hugo Boss (BOSS.DE) shares to "hold" from a previous "buy" rating. Target price at €56; previously it was €62.
Changes in the institution's holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
The largest percentage changes in the companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
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