DE40: Chinese optimism boosts European fashion; Credit Agricole shares surge

• Germany's DAX gains ahead of US NFP reading
• Attention in Germany turns to Henkel and Daimler Truck stocks
• Credit Agricole publishes higher-than-forecast results for Q1 2024 

Overall market situation:

The last trading session on European markets this week brings gains for most indices. Germany's DAX gains 0.4% on the spot market, France's CAC 40 adds 0.6%, and the Euro Stoxx 50 benchmark adds 0.52%. At 1:30 pm BST, investors will learn long-awaited US non-farm employment data. A jump in volatility in stock, currency and commodity markets can also be expected at this time. 

European companies traded during Friday's trading session are currently posting sharp increases. Source: xStation 5

Germany's benchmark DE40 is recording 0.15% gains during today's session. The upward movement initiated two weeks ago is continuously negated in the zone of 18,430 points, where we can now see a double peak formation. However, looking at the situation in a slightly broader perspective, the index has been continuously moving in an upward trend since the first half of November 2023 (this is evidenced by exponential moving averages). For the moment, it seems that the most important support zone of the uptrend is the 50-day moving average (blue curve on the chart). Source: xStation 5

News:

Companies with strong ties to the Chinese market are doing very well in Europe today. We are talking primarily about the stocks of fashion companies such as Kering (KER.FR). 

Fashion companies are driving today's session in Europe. Source: xStation 

On an intraday basis, Daimler Truck (DTG.DE) shares are down nearly 4.5%, despite the company reporting better-than-expected Q1 figures. Adjusted EBIT came in at €1.21 billion against expectations of €1.18 billion. Revenues were: EUR 13.26 billion versus EUR 12.72 billion expected. The company reaffirmed forecasts for the current year published in March.  However, the company stated that uncertainty about the economic background persists in the background, which has worried some investors.

 Consumer goods conglomerate Henkel (HEN3.DE) is aiming for even better results in 2024 thanks to a recovery in its consumer division. "The very good start to the year and today's increase in the annual forecast clearly show that we are on track with our growth plan," - CEO Carsten Knobel said. Total sales are likely to grow organically by 2.5 to 4.5 percent compared to the previous year. The company also expects higher profitability of 13.0 to 14.0 percent, compared to previous expectations of (12.0 to 13.5 percent).  Earnings per share adjusted for special effects will increase by 15 to 25 percent at constant exchange rates. A range of 5 to 20 percent was previously estimated.

Credit Agricole (ACA.FR) shares are up nearly 2.5% today. The bank's revenue reached €6.81 billion in Q1 2024, compared to €6.46 billion expected. Net profit was €1.9 billion versus €1.5 billion expected. For the full year 2024, net profit is expected to reach nearly €6 billion.