- European indices gain during Friday's session
- DE30 breaks above the 16,300-point barrier
- Investor attention turns to US ISM data and Powell's speech
Overall market situation:
The last session of the week on European markets passed in a good atmosphere. Driven by expectations of a drop in interest rates global markets, the Dax surpassed the 16,300-point level on Friday morning, posting gains of more than 0.45%. The attention of the markets today will focus on the release of ISM industrial data from the US, macro data from Canada and Powell's speech from the Fed.
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Most companies listed during Friday's trading session are currently gaining. Source: xStation
DE30 continues its dynamic growth. The instrument broke above resistance, at 16300 points confirming the upward sentiment. The quotation has been in a steep upward channel since the end of October, paving the way even towards the historical maxima in the region of 16 550 points. The most important support all the time remains the 16,000-point zone. Source: xStation 5
News:
IT services provider Bechtle (BC8.DE) has raised new funds via convertible bonds and intends to use them for acquisitions in Germany and abroad, among other things. The stock is now losing nearly 4%.
Source: xStation
Technology group Jenoptik (JEN.DE) raised its medium-term yield targets at the capital market day (above the previous average of analysts' estimates). It now expects to achieve a margin on EBITDA of 21% to 22% in 2025, up from the 19.5% margin previously targeted. Jenoptik backed its revenue target of around 1.2 billion euros for 2025.
The company's shares are currently gaining nearly 4.6%.
Source: xStation
Shares of New York-listed Covid vaccine maker Biontech (BNTX.US) lost 3.7% during today's German trading (the stock is down 3.22% in the US pre-opening). The reason for the sell-off was JP Morgan's downgrade of the company to an "underwieght" rating.
Analyst recommendations:
* Metro AG (B4B.DE): J.P. Morgan downgraded its recommendation on the stock to "underweight." Target price set at €4.95
* Borussia Dortmund (BVB.DE): Oddo BHF reiterated an "outperform" recommendation on the stock.
* Deutsche Telekom AG (DTE.DE): Deutsche Bank reiterated a "buy" recommendation on the stock. Target price set at €29.
