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Markets in Europe maintain slightly better sentiment
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DE30 noticeably weaker against other benchmarks
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Europeans increasingly keen on electric cars
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ASML sees no negative impact from semiconductor export restrictions
Wednesday's trading session on European markets progressed in relatively good sentiment. Most stock market benchmarks are gaining, however, relative to the broad market, the German DAX is performing poorly, trading at yesterday's closing levels on the spot market.
On the Old Continent, investors' attention turns to the companies ASML (ASML.NL) and Kering (KER.FR). ASML reported better-than-expected quarterly results and reported sharply higher orders. Moreover, semiconductor export restrictions to China are not expected to affect the results generated by the company. Kering is gaining on the wave of changes in the company's management.
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Open real account TRY DEMO Download mobile app Download mobile appOn Wall Street, investors' attention will turn today to results from Goldman Sachs (already published) and Tesla and Netlix (after the close of US trading).
The mood in Europe during Wednesday's trading session is relatively positive. At the moment, the worst performing stocks are those of industrial companies. Source: xStation 5
German DE30 futures are losing nearly 0.32% during today's session and are descending to support levels around 16,000 points. Source: xStation 5
News
European car sales extend upward trend. According to the European Automobile Manufacturers Association, new vehicle registrations in June rose by 19% to 1.27 million vehicles, with electric cars accounting for 55% of the increase. Nearly 10% decline was recorded by Disel-fuelled cars.
Taking all fuel types into account, Volkswagen AG (VOW1.DE) sold the most passenger cars in the region with 325,612 deliveries, up 27% year-on-year. Sales of Stellantis NV (STLAM.IT) fell by 2.5% to 210,495 vehicles
Interestingly, however, Stellantis sees a risk of a shortage of new chips in the event of a surge in demand. To mitigate this risk, Stellantis is entering into agreements with Infineon Technologies AG, NXP Semiconductors NV and Qualcomm Inc. and is building a semiconductor order base for the future. Stellantis expects to spend €10 billion by 2030 to secure various types of semiconductor components.
European manufacturers are hot on the heels of the UK, which announced today that the Tata Group will create a £4 billion battery factory for Jaguar Land Rover Automotive.
Jefferies communicated that VERBIO Vereinigate (VBK.DE) is well positioned for decarbonisation changes. The institution initiated analyst coverage on the company with a "buy" rating. The company's shares are currently gaining more than 5%.
Source: xStation 5
Morgan Stanley is downgrading its recommendation on Evonik (EVK.DE) shares, even though it believes the risks in the sector are already priced in and the valuations themselves are attractive. The company's shares are currently losing more than 0.7%.
Source: xStation 5
Wacker Chemie (WCH.DE) shares are trading under downward pressure as the company lowered its full-year Ebitda forecast and reported worse-than-expected quarterly results.
Source: Bloomberg
The largest percentage changes in individual companies of the DAX index. Source: Bloomber
News from individual companies in the DAX index. Source: Bloomberg
