- German DE30 without much volatility at the beginning of the week
- Morphosys gains after clinical trial results
- Uniper on wave after comment on possible dividend in 2024
Overall market situation:
This week's first trading session on European markets brings mixed investor sentiment. The German DAX is gaining slightly, but overall the dynamics of change are not high due to the lack of significant macro publications today. Foreign markets will become much more interesting starting tomorrow, when attention will focus on the publication of CPI data from the US and the decisions of key central banks on monetary policy.
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European companies traded up during Monday's trading session at the moment. Source: xStation 5
The DE30 is losing nearly 0.15% during today's session and is trading below the closing levels of Friday's session. Source: xStation 5
News:
Morphosys (MOR.DE) was in the spotlight today, with its shares gaining more than 12% after details of clinical trials of the drug candidate pelabresib, which improves results in all four areas of use in the Phase 3 MANIFEST-2 trial. The combination of pelabresib and ruxolitinib significantly reduced the size of the spleen, with a response rate nearly double that of placebo and ruxolitinib.
Source: xStation
Uniper (UN01.DE) shares enjoyed even stronger demand, rising nearly 15%. After the close of trading on Friday, the nationalized energy company announced that it plans to pay dividends again starting in 2024. UBS analysts caution, however, that there are no details yet to classify this. Analysts estimate that Uniper owes the state between about €3 billion and €9 billion.
Analyst recommendations:
* Encavis (ECV.DE): Morgan Stanley downgraded its recommendation on the company's shares to an "underweight" rating. Target price set at €12. The company's shares are currently losing more than 7%.
* E.ON (EOAN.DE): Morgan Stanley reiterated a "sell" rating on the company's shares. Target price at €12.5 (previously it was €11.8).
* RWE (RWE.DE): Bernstein upgraded the rating for the company's shares to "buy." Target price at 52.5 euros (previously it was 48.50 euros).
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