DE30: DAX in ATH zone, J.P. Morgan downgrades European airlines ✈️

• Germany's DE30 remains in the ATH zone 
• Germany's industrial production showed clear downward momentum
• JP Morgan cuts recommendation on Europe's largest airlines

Overall market situation:

Thursday's session in European markets is proceeding in a slightly weaker mood, with most companies/indices listed in Europe posting intraday declines. Volatility on the DE30 index itself is generally low, and the benchmark remains near all-time highs. The macro calendar today will focus on data readings from the US, in particular the Challenger report and the weekly jobless claims change report. 

Industrial production data from Germany showed a decline of 3.5% y/y, which was an improvement over the September report of -3.7% y/y, -3.0% y/y was expected. On a monthly basis, production fell 0.4% m/m on expectations of a 0.2% m/m increase.

European companies listed during Thursday's trading session are trading down at the moment. Source: xStation 5

The DE30 is not experiencing excessive volatility during the European session, but remains in the zone of all-time highs. Source: xStation 5

News:

Advanced Micro Devices (AMD.US) gave a forecast for the size of the artificial intelligence chip industry, saying it could grow to more than $400 billion over the next four years. AMD also unveiled new so-called gas pedal chips, which the company said will be able to run artificial intelligence software faster than competing products. Shares of European competitors are down today (Infineon Technologies AG (IFX.DE), Nordic Semiconductor (NOD.NO) and STMicroelectronics (STM.IT) are losing 1.23%, 2.01% and 1.43%, respectively.

Source: xStation 

Travel and leisure companies led sector losses in Europe, losing 1.2%, following magnitude declines of between 3.3% and 5.4% in International Consolidated Airlines Group (IAG.UK), Air France-KLM (AF.FR) and Lufthansa (LHA.DE) after J.P. Morgan downgraded the airline's shares to "underweight" from an earlier "outperform."

Source: xStation 

Thyssenkrupp (TKA.DE) shares fell 4% as the company may have to hand over cash or maintain some pension obligations in order to get Czech billionaire Daniel Kretinsky as a co-owner of its steel business. 

Source: xStation 

Analyst recommendations:

* Continental (CON.DE): HSBC downgraded its recommendation on the company's shares to a "hold" rating. Target price set at €75.

* Deutsche Post AG (DHL.DE): J.P. Morgan raised its recommendation for the company's shares to a "neutral" rating (previously it was "underweight"). Target price at €43.80. 

* Deutsche Post AG (DHL.DE): Barclays raised its recommendations on the company's shares to an "overweight" rating. Target price at 28 euros.