DE30: Tech stocks' results put pressure on European markets

13:34 3 February 2023
  •  DAX slows gains after yesterday's tech results

  • Investors' attention turns today to the NFP report 

  • Weak quarterly results from Ford put pressure on European automakers

Friday's trading session on markets from the Old Continent brings a weakening of sentiment among investors, who slowed their buying momentum somewhat after yesterday's worse-than-expected results from Apple, Amazon and Alphabet. The end of the week promises to be very interesting, thanks to the NFP report, which will be announced at 1:30 p.m BST.

Investor sentiment on the Old Continent on Friday is relatively mixed. The mood among investors was slightly spoiled by the results of Amazon, Alphabet and Apple.  Source: xStation 5

Company news and bank recommendations: 

  • The shares of European automotive companies are under downward pressure today following yesterday's publication of weak results from Ford (F.US). The U.S. giant failed to meet its 2022 earnings target. 

Source: Bloomberg

  • Worse sentiment in the technology sector related to the weak results of Amazon, Alphabet and Apple put pressure on companies from Europe. Here, however, the scale of the declines is smaller due to the raised recommendations on the stocks of the largest companies by top investment banks.  Goldman Sachs, Barclays, UBS and Berenberg maintain "buy" recommendations on the shares of Infineon Technologies (IFX.DE). 

Companies currently trading the highest and key information from each. Source: Bloomberg

DE30 chart:

DE30 futures are trading lower today. The instrument continues to hold above the consolidation zone and resistance set by the 78.6% Fibo retracement. Source: xStation 5

 

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back

Join over 1.6 Million investors from around the world