1:09 PM · 28 November 2022

DE30: Investors focused on Adler and Brenntag stocks

The first German trading session this week brings declines in the valuations of major companies. Investors are mainly focused on the situation on the shares of Grup Adler and the company Brenntag. The macro calendar for today is empty, no less in the course of the week traders will learn a lot of key data from Europe and the USA.

The swaps market is currently pricing in a near 48% chance of a 75bp rate hike at the ECB's December meeting. Source: Bloomberg

DE30 index chart, D1 interval. Benchmark German blue chips are trading lower during today's session. Source: xStation 5

 

Monday's German session brings lower valuations for most economic sectors. Source: Bloomberg

News:

  • Gigantic gains are being recorded today in the shares of Adler Group (ADJ.DE), which are gaining more than 57%! Shortly before the presentation of nine-month financial data (tomorrow), the crisis-ridden real estate manager agreed with a group of creditors on an important adjustment to bond terms and reached an agreement with a group of bondholders.

  • Brenntag (BNR.DE) shares are losing more than 8% in the face of a possible takeover of US competitor Univar Solutions. No less, the company added that talks are at a very early stage and the deal itself may not be finalized. Keep in mind that the deal would strengthen Brenntag's position as the world's largest chemical distributor. 

 

  • Volkswagen's (VW.DE) plant in Chengdu halted production due to the Covid wave.

 

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

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

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