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Stock exchanges in Europe wipe out part of early gains
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Continental AG (CON.DE) is considering selling part of its ContiTech business
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Hauck & Aufhaeuser has downgraded its recommendation on the shares of Gerresheimer (GXI.DE)
Tuesday's trading session on the European market brings a clear wave of rebound on the individual benchmarks, which are trying to extend yesterday's rallies. However, with the start of the session on Wall Street, the stock exchanges started to reduce the early gains. The macro calendar for today's session is relatively sparse, but investors will be paying attention to comments from Fed bankers.
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Open account Try demo Download mobile app Download mobile appThe mood in Europe during Tuesday's trading session extends the bullish momentum from yesterday's session. Source: xStation 5
Futures based on the German DE30 gained nearly 0.5% today, but wiped out some of the early rallies, which reached their range near the barrier zones set by the 100-day exponential moving average (purple curve). Source: xStation 5
News
Continental AG (CON.DE) is considering the sale of part of its ContiTech business - which makes products including industrial hoses and conveyor belts - as the company reorganises due to its desire to make a sectoral shift to electric vehicles. As part of this, the company wants to spin off part of ContiTech to prepare it for a potential sale. The shares are currently gaining close to 1%.
Source: xStation 5
Hauck & Aufhaeuser downgraded its recommendation on Gerresheimer (GXI.DE) shares in view of the lower risk premium perceived by the institution. The rating was downgraded to 'hold', but the target price was maintained at €125. The company's shares are currently losing nearly 1.12%.
Source: xStation 5
The world's largest mining company, BHP Billiton (BHP.UK) reported Q2 results, to which the market reacted with a sell-off in the first reaction, but the shares are now slowly returning to growth. More information can be found here.
Major percentage changes in individual companies of the DAX index. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
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