- European company valuations under supply pressure
- UniCredit (UCG.IT) at levels not seen since 2016
- Citi upgrades Merck KGaA (MRK.DE) shares to a "buy" rating
Overall market situation:
Thursday's session on European markets brings a significant deterioration in market sentiment in the face of yesterday's overtone of the FOMC's interest rate decision and new macroeconomic forecasts. Moreover, investors are reacting to incoming decisions from other central banks, which are also deciding on their monetary policy. In an hour, we will learn important data on unemployment benefits in the US.
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At the moment, most companies listed in Europe during Thursday's trading session are trading down. Source: xStation 5
The price of contracts based on the German DE30 is losing nearly 0.70% on an intraday basis, opening a path towards the support set by the level of 15,700 points. Source: xStation 5
News:
Citi raised its recommendation on Merck KGaA (MRK.DE) to a "buy" rating and set a target price for the company's shares at €210. Merck's stock price is currently holding near yesterday's closing levels.
Source: xStation 5
Jefferies raised its target price for TUI (TUI.DE) shares to a "hold" rating. Target price at €6.1 per share.
UniCredit's (UCG.IT) shares have rocketed to their highest level since January 2016, consolidating their position as the top-performing Eurozone bank stock, rising nearly 75% since the beginning of the year. Investors continue to react positively to the decision to accelerate the share buyback program.
Source: xStation 5
JD Sports Fashion (JD.UK) reported that it is on track to achieve annual profit in line with forecasts. The company's shares are currently gaining more than 6.5%.
Source: xStation 5
The largest percentage changes in individual companies in 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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