DE30: Market discounts weaker services PMI data

• DE30 under downward pressure

• Market discounts weaker PMI data for services

Wednesday's session on the Old Continent brings mixed sentiment among investors. The main stock market benchmarks are losing, and the market is trying to discount the weak PMI readings for the services sector. Later today, investors' attention will focus on the ADP report from the US and the ISM PMI indexes for services.

The swap market is currently pricing in a near 81% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg

DE30 index chart, D1 interval. Benchmark German blue chips are trading down today. Source: xStation 5

Wednesday's session on the German market brings lower valuations for most sectors of the economy. The real estate sector is performing particularly poorly. Source: Bloomberg

News:

• Carl Zeiss Meditec (AFX.DE) gained 3% after being upgraded from "Hold" to "Buy" by Berenberg Bank.

• Shop Apotheke (SAE.DE) posted powerful gains today, reporting better-than-expected Q3 results.

  Start investing today or test a free demo

  Open real account TRY DEMO Download mobile app Download mobile app

Source: Bloomberg

Bank recommendations:

• Wacker Chemie AG (WCH.DE): Credit Suisse cuts target price to €146 from €188

• Wacker Chemie AG (WCH.DE) : UBS cuts target price to €114 from €145

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

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

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