- Brunello Cucinelli announcements support European fashion sector
- MorphoSys with offering of new shares to institutional investors
General market situation:
Thursday's session on European markets brings significant gains for most listed companies. Yesterday's decision by the Fed to maintain interest rates and Powell's relatively dovish comments supported the demand side of investors. Today's session is mainly focused on the decisions of central banks from the Old Continent, which publish their new monetary decisions in large numbers.
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European companies traded during Thursday's trading session are, for the most part, posting sharp gains at the moment. Source: xStation 5
Germany's benchmark DAX is gaining nearly 0.65% during today's session. DE30 contracts alone, however, are trading down nearly 0.1%. The index is trading at all-time highs. Source: xStation 5
News:
Fashion house Brunello Cucinelli announced Wednesday that it expects to end the year with positive results. It is worth recalling that the company will make its debut on Italy's FTSE Mib exchange in five days.
"After the good results of the last nine months and the very interesting growth in October, November and the first half of December, we anticipate very good revenue growth for 2023, between 22% and 23% at current exchange rates - more than €1.1 billion - raising estimates compared to previous expectations between 20% and 22%," said the founder of the brand of the same name, Brunello Cucinelli.
In the face of these announcements, fashion companies are doing very well.
Source: xStation
There has been a lot of volatility in the price of Vivendi (VIV.FR) shares on the Paris stock exchange, as the group plans to split into several parts. Analysts say the individual parts are likely to be priced higher individually than as a group. The company's shares are currently gaining nearly 8.5%.
According to Der Spiegel magazine, the German government wants to finance Deutsche Bahn's reorganization by selling shares in Deutsche Telekom (DTE.DE) and DHL (DHL.DE). Shares in these companies are currently losing nearly 3%.
MorphoSys (MOR.DE) announced that a total of 3.4 million shares have been offered to institutional investors at a price of €30 apiece. The company's shares are currently losing 6.5%.
Engine maker Deutz (DEZ.DE) wants to acquire part of the business from Rolls Royce Power Systems. The company's shares are up 7.5%.
Analyst recommendations:
* Vonovia (VON.DE): ING reiterated a "buy" rating on the company. Target price at €35 per share.
* RWE (RWE.DE): JP Morgan has rated the company's stock with a "buy" rating. Target price at 59.5 euros.
* EON (EOAN.DE): JP Morgan reiterates a "buy" rating on the company and sets a target price of €13 per share.
