- DE30 gains noticeably during Thursday's session
- At 1:30 p.m. GMT, PCE data from the U.S.
- Deutsche Bank boosted by JP Morgan analysts
General market situation:
European indexes, as well as US index futures, are posting moderate gains today. However, the macro calendar is filled with important readings today, which could trigger elevated market dynamics later in the day. Investors should pay particular attention around 1:30 pm GMT, when PCE inflation data from the US will be presented.
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Preliminary CPI inflation readings (for November 2023) from the eurozone came in at 2.4% vs. 2.7% expected and 2.9% previously (-0.5% m/m vs. -0.2% expected and 0.1% previously).
Source: Bloomberg Financial LP
Most companies listed during Thursday's trading session are currently gaining. Source: xStation
The DE30 broke above resistance, at 16200 points confirming the upward sentiment. Quotations have remained in a steep upward channel since the end of October, and breaking through the resistance at 16050 points may open the way even towards historical maxima in the 16550 points area. The most important support all the time remains the 16,000-point zone. Source: xStation 5
News:
Deutsche Bank (DBK.DE) shares clearly led the European banking sector and the benchmark DAX on Thursday morning. The bank's shares are currently gaining more than 2% on the back of JP Morgan's rating. Its analysts have included the Frankfurt-based bank's shares in their portfolio of favorites in their European sector forecast for 2024. They are now included alongside UBS, BBVA (BBVA.ES), Natwest (NWG.UK), ING (INGA.NL) and Intesa (ISP.IT).
Source: xStation
K+S (SDF.DE) shares have fallen to their lowest level in two years and are now trading near 2.45% declines. Analysts at French investment bank Exane BNP Paribas downgraded the fertilizer company's stock to "underweight," and also lowered their target price due to continued oversupply in the market.
Source: xStation
Analyst recommendations:
* Deutsche Bank (DBK.DE): J.P. Morgan maintained a "buy" recommendation on the stock. Target price set at €15 (previously it was €14).
* Brenntag (BNR.DE): Deutsche Bank maintained its recommendation for the stock at "buy." Target price set at 88.9 euros (previously it was 81 euros).
* Mercedes-Benz (MBG.DE): Goldman Sachs raised its recommendation for the stock to a "buy" rating. Target price set at €90.
