- European markets gain at the start of Monday's session
- Manufacturing ISM PMI data in the spotlight
- Delaware court ruling takes GSK shares 10% lower
General market situation:
This week's first trading session on European markets is marked by clear gains in the quotations of individual listed companies and indices. The only two sectors recording increased downward pressure are pharmaceuticals and healthcare. The semiconductor sector is doing very well, benefiting from the announcement of new semiconductors from Nvidia and AMD. Investors' attention turns today to ISM PMI manufacturing data from the US.
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European companies traded at mixed levels during Friday's trading session. Source: xStation 5
Volatility currently observed in the DAX index. Source: Bloomberg Financial LP
Germany's benchmark DE40 is trading up nearly 0.28% during today's session. The index continues to remain in the structure of the downward trend initiated on May 16. In the medium term, the continuation of the downtrend may create room to test the historically important support level in the zone of the 50-day exponential moving average (blue curve on the chart). Locally, the most important resistance all the time remains the historical peak at the level of 19,000 points, as well as the zone of 18,840 points, which is close to the current quotations (the index has violated this zone several times, and it has been a point of both support and resistance in the past). Source: xStation 5
News:
Commerzbank (CBK.DE) shares are losing nearly 1.0% in today's session, the worst performer on the Stoxx 600 Banks Index. Citi downgraded the lender to “neutral” from “buy,” taking a more cautious view than consensus on the bank's 2025-27 earnings forecast.
Evotec (EVT.DE) and QIAGEN (QGEN.US) are entering into a software partnership to increase insights from multi-omics data, thereby potentially speeding up the process of studying diseases and creating accurate therapeutic solutions. Evotec shares are currently gaining nearly 1.5%.
GSK (GSK.UK) shares are losing nearly 10%, the most since August 2022, after a Delaware court ruling. The judge ruled that evidence supporting claims that the companies' former heartburn treatment Zantac causes cancer was reasonable and could be heard by a jury.
GSK immediately filed an appeal in the case.
Source: xStation
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
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