- DAX reversed early declines and now gains 0.36%
- SAS (SAS.SE) announces restructuring proceedings
- Fresenius Medical sued by New York attorney general
Overall market situation
Wednesday's trading session in European markets brings an improvement in investor sentiment, with investors reacting to better PMI data from the services sector and awaiting the same data from the US and the ADP labor market report there. The dollar is losing on the broad market, and the VSTOXX volatility indexes are reducing their earlier gains.
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At the moment, companies listed in Europe are trading mostly higher. Source: xStation 5
Futures based on the German DE30 index are trading with modest gains in view, nevertheless it is worth noting that the index was clearly losing from the beginning of trading and only the second part of the session brought an improvement in sentiment. Source: xStation 5
News:
HSBC downgraded its recommendation on shares of Brenntag (BNR.DE) to a "hold" rating. The target price was set at 82 euros per share. The company is currently losing nearly 1%.
Source: xStation 5
Scandinavian airline SAS (SAS.SE) announced that it has begun a restructuring program and communicated. that U.S. investment firm Castlelake and conglomerate Air France-KLM (AF.FR) will become new shareholders in the airline alongside the Danish state following bankruptcy proceedings.
Castlelake will take about 32% of the shares, Air France-KLM about 20% and the Danish state about 26%, SAS reported. Air France-KLM said its stake could be increased.
SAS, which in the past had a large number of retail shareholders, will be delisted from the Stockholm, Copenhagen and Oslo stock exchanges, and existing ownership stakes will be removed.
SAS airline shares are currently losing nearly 89%.
Source: xStation 5
New York Attorney General Letitia James, Georgia Attorney General Christopher Carr and New Jersey Attorney General Matthew Platkin have filed a complaint against Fresenius Vascular Care and Fresenius Medical (FME.DE) for subjecting Medicaid recipients with end-stage renal disease (ESRD) to unnecessary surgeries and fraud in this treatment program. The company's shares are currently losing 4%.
Source: xStation 5
The largest percentage changes in individual companies in the DAX index. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
