DE30: DAX gains despite mixed ZEW reading

• DE30 gained slightly early in the session

• Markets focused on Wall Street company results

• Mixed ZEW institute data

Tuesday's session on markets in Europe saw rises in most stock market benchmarks. Investors' attention is invariably focused on the results of companies reporting their Q1 2023 results. No less important today is the publication of the ZEW institute's sentiment, which came out mixed. On Wall Street, attention will focus on the results of individual banks: 

• Bank of America (BAC.US) - before the market opens

• Johnson & Johnson (JNJ.US) - before the market opens

• Bank of New York Mellon (BK.US) - before the market opens

• Goldman Sachs (GS.US) - before the market open

• Lockheed Martin (LMT.US) - before market open

• Netflix (NFLX.US) - after the market close

ZEW data: 

Expectations: 4.1 vs. expected +15.6 (13.0 previously)

Current conditions: -32.5 vs expected -40.0 (-46.5 previously)

The mood in Europe during Tuesday's trading session is relatively positive. Source: xStation 5

News:

• MTU Aero (MTX.DE) shares are gaining nearly 4% at the start of today's trading session following the publication of very good preliminary results and consequently a better start to the year than previously expected.

The company's preliminary results. Source: Bloomberg 

S&P Global downgraded Adler Group's (ADJ.DE) long-term rating to SD from its previous rating of CC, the lowest rating on the rating scale for long-term debt issuers. At the time of writing, Adler's total loans and bonds were estimated at €4.86 billion. A debtor rated 'SD' (selective default) or 'D' is in default on one or more of its financial obligations, including rated and unrated but excluding hybrid instruments classified as regulatory capital, or is not repaying them in accordance with their terms.

Bernstein reiterates a 'buy' recommendation on the shares of BASF (BAS.DE). The target price was maintained at €72. 

Airbus (AIR.DE) informed the airline of delays in the delivery of its best-selling single-aisle aircraft in 2024, with the delivery of several hundred aircraft delayed by around three months. Airbus confirmed that the delays do not reflect any worsening of problems in the supply chain structure since the change in production plans earlier this year. It confirmed production targets for 2024 and beyond. The company's shares are currently losing nearly 1.2%.

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

Major percentage changes and information from individual companies in the DAX index. Source: Bloomberg

DE30 chart

Futures based on the German DAX index (DE30) are trading at mixed levels today. Source: xStation 5