- European markets under selling pressure
- Commerzbank announces that repurchased treasury shares will be redeemed'
- Investment banks revise their recommendations for German companies
General market situation:
Tuesday's session on stock markets from the Old Continent brings considerable indecision. For the most part, stock indexes are losing ground today. German industrial production data fell short of expectations, putting the euro's quotations against other currencies under pressure.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
European companies listed during Tuesday's trading session are currently trading at mixed levels. Source: xStation 5
Germany's benchmark DE40 is losing nearly 0.72% during today's session. Overall, the benchmark is trading all the time in a local consolidation zone close to historical highs. Source: xStation 5
News:
Negative analyst commentary weighed on BASF (BAS.DE) shares on Tuesday. The company's fundamentals do not justify the current share price, wrote investment house analyst Bernstein. The recommendation was lowered to "underperform." Target price lowered to 39 euros.
Source: xStation
The repurchased shares of Commerzbank (CBK.DE) will be redeemed, the company reported. The buyback will begin on January 10, 2024, and will run until April 4, 2024.
Analyst recommendations:
* Zalando (ZAL.DE): Bankhaus Metzler initiated analyst coverage of the company with a "buy" rating. Target price set at €26.
* United Internet (UTDI.DE): UBS downgrades the company to "neutral." Target price.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
