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DE30 under bearish pressure
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Real estate sector under downward pressure
Thursday's session on the Old Continent brings declines in most stock indexes. Germany's DE30 is trading 1.2% lower today. The German federal government is expected to announce an aid package worth nearly 200 billion euros (nearly 5% of Germany's GDP) against high energy prices, Handelsblatt reported. The government is expected to provide more details at 1 pm BST. The key European macro reading is the publication of German CPI for September, scheduled for 13:00 BST. Market consensus points to an acceleration from 7.9% to 9.5% y/y. However, there is a good chance that the actual report will surprise upward, given the inflation data released today from the German states. The last-minute inflation level in Germany is expected to be 10%, Business Insider reported, quoting government sources.
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Create account Try a demo Download mobile app Download mobile appThe swap market is currently pricing in a near 84% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg
DE30 index chart, D1 interval. The benchmark German blue chips are trading lower today, however, they remain above the 12,000 mark. Source: xStation 5
Thursday's session on the German market brings lower valuations for most sectors of the economy. The real estate sector is under downward pressure. Source: Bloomberg
News:
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The number one topic in the German market is, of course, the first session of Porsche AG (P911.DE). At the moment, the company's shares are gaining more than 2.5% and climbing to the €85 level.
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Huge sell-offs are seen at Thyssenkrupp (TKA.DE), which is losing more than 6% at the moment. The declines have been prolonged since yesterday, with additional downward pressure from rival ArcelorMittal, which has halted production.
Bank recommendations:
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Hugo Boss (BOSS.DE) downgraded by Baader Helvea to "reduce." Target price at 44 euros.
Changes in the institution's 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
