DE30: DAX gains slightly ahead of the US CPI report

Thursday's session on European markets brings slightly better investor sentiment. Today, investors' attention is focused on the CPI inflation report (13:30 GMT). Tomorrow, investors will learn about Germany's CPI and HICP inflation readings (07:00 GMT).

The swap market is currently pricing in a near 57% chance of a 75bp rate hike at the ECB's December meeting. Source: Bloomberg

DE30 index chart, D1 interval. The benchmark German blue chips are posting moderate gains today. Source: xStation 5

Thursday's German market session brings mixed valuations for most economic sectors. Source: Bloomberg

News:

Deutsche Telekom (DTE.PL), whose Q3 results were unable to beat analysts' expectations due to deteriorating sales in Europe, is seeing sizable declines today. In the third quarter, consolidated revenues rose 8.8% to €28.979 billion, but analysts had expected €29.311 billion. Adjusted EBITDA rose 8.5% to $10.481 billion, compared with the consensus forecast of $10.511 billion. No less, the company raised its full-year earnings forecast.

Investors are reacting positively to the earnings releases of Continental (CON.DE) and Allianz (ALV.DE). Continental, despite a loss in the third quarter, is making large new orders, which pleases investors. Allianz's results fare much better and beat the company's record in Q3 terms.

Bank recommendations:

• Wedbush raised its target price for Adidas (ADS.DE) shares from €102 to €111.

• HSBC lowered its recommendation for Covestro (1COV.DE) shares to "hold" from its previous "buy" rating.

The largest percentage changes of companies included in the DAX index. Source: Bloomberg

The most active stocks in the DAX index (DE30). Source: Bloomberg