- European markets make clear gains during Thursday's session
- DAX on new ATH after higher Nvidia results
- Mercedes-Benz shares gain after financial results
Overall market situation:
European stocks are gaining during Thursday's trading session. This is largely due to better-than-expected results from Nvidia, which is currently gaining nearly 13% in the market before the opening. The bullish sentiment on the Old Continent took the DAX index (DE40) to new historic highs. Investors' attention turns today to PMI data from the US.
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European companies traded higher during Thursday's trading session today. Source: xStation 5
Germany's benchmark DE40 is gaining nearly 1.24% during Thursday's session. From a technical point of view, further increases may encourage the buyers' side to test the psychological zone of 17,500 points. The most important zone of possible support may now be the local peak at 17,250 points. Source: xStation 5
News:
Delivery Hero (DHER.DE) announced that it has completed negotiations with an undisclosed third party for the potential sale of its Foodpanda business in selected Southeast Asian markets, where it is trying to downsize its operations. The company's shares are currently losing more than 5%.
MTU Aero Engines (MTX.DE) shares fell more than 2% after the group announced that it will not increase shareholder profits until 2026, as problems with Pratt & Whitney engines, as well as investments in plants and technology, will affect cash flow.
Mercedes Benz (MBG.DE) shares are up 5% after reporting "solid" full-year results and announcing a share buyback program worth up to €3 billion. The company's EBIT for 2023 was €19.66 billion, 2% above J.P. Morgan's estimates. Mercedes Benz Group delivered a solid full-year result, confirming guidance in all key performance indicators in a relatively challenging delivery environment, according to J.P. Morgan.
Forecasts for the new year: Expected Group revenue at last year's level, expected Group EBIT slightly below 2023 levels, expected free cash flow from industrial operations slightly below last year's level, adjusted return on sales of Mercedes-Benz Cars in the range of 10% - 12%, adjusted return on sales of Mercedes-Benz Vans in the range of 12% - 14%, and adjusted return on sales of Mercedes-Benz Mobility in the range of 10% - 12%.
Source: Mercedes-Benz
Analyst recommendations:
Private bank Berenberg raised its rating on Bechtle (BC8.DE) from "Hold" to "Buy" and raised its target price from €41 to €57.
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