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Worse than expected Ifo reading
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DE30 close to new lows!
This week's first German trading session brings mixed sentiment among investors. The German benchmark is trying to defend the support set by this year's new minima, no less the market is under pressure from a weak Ifo reading, which confirms the possibility of a strong recession in Germany.
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Source: Ifo
The swap market is currently pricing in a near 95% 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 mixed today, oscillating between this year's low and resistance at 12600 points. Source: xStation 5
The first session on the German market this week brings mixed valuations for most economic sectors. Source: Bloomberg
Bank recommendations:
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JP Morgan lowered its recommendation on Varta (VAR1.DE) to "neutral" from its previous "overweight". Target price at 45 euros (previously 95 euros).
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Recommendations for Airbus SE (AIR.DE) shares were lowered by Deutsche Bank (target price of 133 euros; previously 141 euros), Jefferies (target price of 148 euros; previously 145 euros) and JP Morgan (target price of 155 euros; previously 175 euros).
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HSBC lowered its target price for Porsche SE (PAH3.DE) shares to 72 euros from 100 euros.
Changes in institutions' 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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