DE30: Dax drops ahead of minutes from latest FOMC meeting

• European markets drop after weak sessions in Asia and US

• Investor attention turns to FOMC minutes

• Morgan Stanley rating boosts sentiment around Wacker Chemie

Wednesday's trading session on European markets brings a deterioration in sentiment after a weak session in Asia and the US. The mood in Germany is slightly improved by Ifo, ZEW and PMI data, which overall indicated an improvement in economic sentiment. Today, the focus is on the FOMC minutes, which will be released at 7 pm GMT, Following the Wall Street session, the following companies will present their results: NVIDIA (NVDA.US) and Lucid Group (LCID.US).

Ifo data:

Ifo sentiment and PMI data rebound. The Ifo reading for February came in at 91.1 against expectations of 91.2. 

• Expectations: 88.5 vs 88.4 expected (86.4 previously)

• Current conditions: 93.9 vs 95.0 expected (94.1 previously)

Source: Bloomberg

Investor sentiment on the Old Continent deteriorated during Wednesday's session. Most European companies continued their dynamic declines. Source: xStation 5

• The shares of Wacker Chemie (WCH.DE) are up by almost 5% today on the back of an upgraded recommendation from Morgan Stanley. The bank rated the company at 'overweight' with a target price of €185. 

• The shares of Fresenius SE (FRE.DE) are losing nearly 4% after the publication of worse-than-expected results for Q4 2022. As the company's CEO added, the company needs to undergo a general reset due to years of inept management. The results are presented as follows:

Source: Bloomberg

Changes in the institution's holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg

DE30 chart:

DE30 futures are trading down sharply on Wednesday. Source: xStation 5