- Mexico, Canada and China tariffs, US PCE data and German CPI data in focus
- Berenberg downgrades Lanxess stock
Overall market situation: European markets are trading lower at the end of the week. The German DAX on the cash market has already lost nearly 0.34%. The main topic of the day are customs duties between Mexico, Canada and China, PCE data from the USA, CPI data from Germany and information from specific companies.
You can find more information about what we can expect from the latest CPI reading in Germany in our previous post.
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In the broader European market, we are seeing a relatively mixed sentiment across the major sectors of the economy. Source: xStation
The German DE40 index gained today and added 0.33% on an intraday basis. The most important support for the index remains the 50-day EMA (blue curve on the chart) and the support area of the consolidation zone near 21,230 points. Technically, the DE40 maintains a stable upward trend all the time. Source: xStation
Corporate News:
Sectors exposed to tariff hikes between the US and Europe are active today. It is worth keeping a close eye on the shares of car manufacturers such as Stellantis, Mercedes-Benz, BMW, Volkswagen Also parts suppliers such as Forvia, Continental, Michelin, Pirelli are subject to greater volatility today. Other sectors are, m.in, freight (Maersk, Hapag Lloyd) and alcoholic beverages (Remy Cointreau, Pernord Ricard).
European semiconductor stocks are down for the second day in a row due to disappointment in Nvidia's quarterly results, as well as concerns about a tariff war. Chip companies are losing ASML -2.1%, ASM International -2.6%, Infineon -2.3%, STMicroelectronics -1.4% and Nordic Semiconductor -3.7%, respectively.
Berenberg analysts downgraded Lanxess (LXS.DE) stock to "hold" from an earlier buy. The target price was set at 31 euros per share. The company's shares are down 2.5% today.
Other news from individual companies of the DAX index. Source: Bloomberg Financial LP
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