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DE30 continues yesterday's declines
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Federal government divests from Lufthansa shares
Today's session on the German stock market brings mixed sentiment among investors. The DE30 is currently trading near 0.5% declines and continues the sell-off initiated after yesterday's dismal US inflation reading.
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Create account Try a demo Download mobile app Download mobile appThe swap market is currently pricing in a 76% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg
DE30 index chart, D1 interval. The benchmark of German blue chips is trading mixed today and struggling to hold support at 13,000 points. Source: xStation 5
Wednesday's trading session brings mixed sentiment among the various sectors of the economy. Health care and discretionary goods companies are doing well. The industrial sector is currently under pressure. Source: Bloomberg
Lufthansa (LHA.DE) shares are losing nearly 2% today as the Federal Government sells its last shares to international investors. The government is selling off all of the company's shares after two years when the Covid assistance program began in 2020. Nevertheless, the company's CEO, Mr. Carsten Spohr, commented that the company is happy to see the exit of the state as a major shareholder. Today's declines were further supported by Stifel, which lowered its recommendation on the company's shares. As Reuters reported, the whole situation was exploited by Klaus-Micheal Kühne, who increased his existing stake.
Interest in Porsche AG's IPO is expanding. The Government Pension Fund of Norway intends to join the ranks of investors in the company's upcoming IPO. Earlier, Qatar signaled its interest.
Changes in institutional holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
Bank recommendations:
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Stifel downgraded Deutsche Lufthansa (LHA.DE) shares to a "hold" rating from "buy." The target price dropped to €50 (previously it was €55).
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Stilfel also lowered its target price for Fraport (FRA.DE) shares from €75 to €60.
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Berenberg raised the rating on Roche Holding (ROG.CH) shares from "hold" to "buy." The target price at CHF 380 (previously it was CHF 350).
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
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