- European stocks gain during Friday's session
- DAX on ATH ahead of US PCE data
European stock indices traded higher during Wednesday's session. The DAX is currently gaining 0.25% on an intraday basis on the podcast, while France's CAC40 is adding 0.4% over the same period. Investors' attention today turns to corporate news, companies' quarterly results and PCE data from the US.
Volatility currently seen in the European market. Source: xStation
The German DE40 index today extends its previous bullish momentum and breaks out to new historical peaks. The most important support for the index invariably remains the 50-day EMA (blue curve on the chart) and the recent peak broken out by the index in the 20,500-point zone. Technically, the DE40 continues to maintain a stable upward trend all the time. Source: xStation
News
Commerzbank (CBK.DE) is posting a net result of up to €2.7 billion in 2024 (analysts had expected €2.47 billion), while revenues rose 6% to €11.1 billion on the back of strong customer activity, the company reported. Return on equity rose to 9.2% (it was 7.7% in 2023). The dividend is expected to be €0.65 per share. The company's shares are gaining nearly 1% today.
Novartis (NOVN.CH) released financial results showing adjusted net income well above analysts' estimates, as sales of its acclaimed heart failure drug Entresto and newer multiple sclerosis drug Kesimpta exceeded forecasts. Net income for the fourth quarter, adjusted for special items, rose 26% to $3.93 billion (analysts had expected $3.64 billion).
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