DE30 under supply pressure

• DE30 under bearish pressure

• Biogen supports health care company valuations

• Weak sentiment among financial companies

Wednesday's session in Europe brings declines in most stock market benchmarks. The DE30 is trading 1% lower and is trading at its lowest levels this year. The macro calendar for today is relatively empty.  GfK consumer sentiment fell more than the consensus expected (now: -42.5; consensus: -39).

The swap market is currently pricing in a near 83% 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 lower today and have broken out to new one-year lows. Source: xStation 5

Wednesday's session on the German market brings lower valuations for most economic sectors. Financial and real estate companies are under downward pressure. Source: Bloomberg

News:

• HeidelbergCement (HEI.DE) said it may suspend factory operations if high energy prices persist. 

• The stocks of banking companies fared particularly poorly today, with Deutsche Bank (DBK.DE) and Commzerbank (CBK.DE) losing more than 4%. Commerzbank is losing through an additional provision of 490 million euros by Polish bank mBank (MBK.PL).

• Good news from Biogen (BIIB.US) is having a positive impact on the health sector, which is doing relatively better despite today's sell-off.

Bank recommendations:

• Berenberg cut its target price for Hypoport (HYQ.DE) shares to 225 euros from 400 euros.

• JP Morgan rates ThyssenKrupp (TKA.DE) at "underweight." Target price at 4.8 euros.

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 of the DAX index (DE30). Source: Bloomberg