Today's session on the German stock market was marked by significant changes in the composition of the DAX index. The biggest event was the announcement that Porsche AG will leave the benchmark after just three years since entering the stock exchange. The company struggled with a combination of American tariffs, weakening demand for electric cars, and declining sales in China.At the moment, most European indices are recording minimal gains. The leaders of growth are currently NED25 and AUT20, with increases around 0.2%. ITA40 and SPA35 are losing about 0.1%. DE40 remains close to opening levels.
At the same time, there was noticeable activity from investment analysts. Mercedes-Benz received a positive "outperform" recommendation with a growth potential of 13%, and Heidelberg Materials received a "buy" recommendation from Goldman Sachs with an even greater potential, reaching 26%.
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This shows how strongly macroeconomic and geopolitical environments affect even the most prestigious car manufacturers. Sartorius AG will also be removed from the DAX, and their place will be taken by GEA Group and Scout24 – both companies have clearly gained value in recent months.
Macroeconomic Data:
Today, published data showed a decline in new industrial orders in Germany for the third consecutive month. This indicates that concerns about the state of the German economy are justified.
Factory Orders M/M
- Published: -2.9% (Expected: 0.4% Previous: -0.2%)
Factory Orders Y/Y
- Published: -3.4% (Previous: 1.7%)
The retail sales data from the UK performed slightly better, which may indicate that the condition of the British consumer is not yet as bad as some analysts believe.
Retail Sales Y/Y:
- Published: 1.1% (Expected: 1.2% Previous: 0.9%)
Retail Sales M/M:
- Published: 0.6% (Expected: 0.2% Previous: -0.3%)
DE40 (D1)
Source: Xstation
The price technically defended a strong support level at FIBO 38.2, additionally reinforced by the EMA100 average. The price quickly rebounded from resistance and returned above the last trend line, where it currently remains. To find itself near the highs and the upper limit of the trend channel again, the price must first overcome the zone around FIBO 23.6, where the EMA50 average is also located. This resistance is further strengthened by a series of local price lows from recent months.
Company News:
Porsche AG (PAH3.DE) - The prestigious German sports car brand is leaving the DAX after less than three years of presence – the decision results from three downward revisions of forecasts and pressure from US tariffs on cars from Europe. The company lost 33% in value over the year.
Mercedes-Benz (MBG.DE) – CICC gave the company an "outperform" recommendation with a target price of 60 EUR, indicating a potential increase in share prices by 13%. The company is up 1% at the opening.
Heidelberg Materials (HEI.DE) – Goldman Sachs initiated a "buy" recommendation with a target price of 240 EUR, indicating a 26% increase compared to the current price. The company is up 0.5% at the opening.
E.On (EOAN.DE) – sold the Czech company Gas Distribution to GasNet.
Sartorius AG (SRT.DE) – is also leaving the DAX, but the company's share price rose by 2.2% in pre-market trading today.
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