DE30 in consolidation ahead of FOMC, crash on Uniper shares

• Stock markets from the Old Continent in consolidation ahead of the FOMC

• Uniper's nationalization, shares lose more than 30%

Wednesday's session on the Old Continent brings mixed sentiment among major equity benchmarks. All due to expectations for today's FOMC decision on interest rates. Market sentiment is also affected by military mobilization in Russia and the nationalization of Uniper. In the afternoon, investors will learn data on US home sales and changes in inventories of oil o other hydrocarbons.

The swaps market is currently pricing in a near 77% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg

Chart of the DE30 index, D1 interval. The benchmark German blue chips are trading mixed today and remain in the region of local September lows. Source: xStation 5

Wednesday's session on the German market brings mixed valuations for most sectors of the economy. Companies in the health care and industrial sectors are currently performing worst Utility companies are behaving slightly better. 

The topic of the day on the German stock market is the nationalization of Uniper (UN01.DE). The federal government will buy shares from Finland's Fortum (a major shareholder in Uniper) at a fraction of the current market price, specifically at €1.7 per share. The government is to take a total of nearly 99% of the company's shares.According to Fortum, Uniper has lost nearly €8.5 billion by blocking Russian gas supplies. Uniper's shares are losing more than 34% today. Fortum (FORTUM.FI) shares are gaining more than 8%

Bank recommendations: 

• Deutsche Post (DPW.DE) downgraded to "neutral" by Goldman Sachs. Target price at 38 euros. 

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

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

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