- DAX Index Rises 0.50% to 16980 points
- Fresenius (FRE.DE) Leads Advance
- STOXX Europe 50 Price Index advanced 0.60%
On Wednesday, the cash session in Europe is trending upward. Indexes on the Old Continent are gaining mostly in the range of 0.80-1.10%. The leader in growth is the market in the United Kingdom, where the catalyst turned out to be lower CPI inflation readings published this morning. The German DAX is gaining a bit less, about 0.50%, and bulls are fighting to return above the 17000 points level.
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Source: xStation 5
Key Metrics
- 16 shares rose, while 21 fell
- Fresenius (FRE.DE) contributed the most to the index gain and had the largest move, increasing 2.16%.
- Sartorius (SRT.DE) was the biggest drag on the index and had the biggest drop, declining 2.39%
- The index advanced 9.89% in the past 52 weeks.
- DAX Index is trading at a price-to-earnings ratio of 14.6 on a trailing basis and 12.6 times estimated earnings of its members for the coming year
Eurozone Highlights
- ECB Vice President Luis de Guindos cautioned against premature interest rate cuts by the European Central Bank, emphasizing the need for more information to confirm a sustained return to the 2% inflation target. Speaking at a conference, he highlighted that upcoming months will bring crucial data on underlying inflation drivers.
Company News
Rheinmetall (RHM.DE) shares, experienced significant growth, driven by expectations of increased defense spending. This optimism is partly fueled by statements from US presidential candidate Donald Trump, suggesting that NATO states not meeting defense spending commitments might lose protection. Trump's focus on NATO members achieving the agreed 2% of GDP arms spending has led investors to anticipate discussions and potential increases in defense budgets. Consequently, Rheinmetall shares reached a new all-time high reflecting broader market optimism in the defense sector
Bilfinger (GBF.DE) is set to continue its growth trajectory in the current yea. Management board stay optimistic about the sector potential driven by the increasing complexity of production, bureaucracy, digitalization, and the shortage of skilled workers, which is leading companies to outsource to industrial service providers. The company plans to boost its sales to between 4.5 and 4.8 billion euros in 2024, aiming for a higher operating result (Ebita margin) of 4.9 to 5.2%.
Fresenius (FRE.DE) contributed the most to the index gain and had the largest move, increasing 2.16%.
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