DE30: Surging US index futures boost European sentiment!

• Approaching session on Wall Street supports sentiment in Europe

• US index futures point to higher open on Wall Street

• SAP (SAP.DE) shares under pressure on weaker results in the 'cloud' division

The last trading session of the week brings mixed investor sentiment, which however seems to be improving as the US cash session approaches. US futures point to a successful start to the session on Wall Street, nevertheless it is worth bearing in mind that ADRs on major US companies are trading lower in Europe. 

The macro calendar for today's session is relatively empty. Investors' attention is focused on incoming earnings reports from companies for the second quarter of this year. 

The mood in Europe during Friday's trading session is relatively mixed. At the moment, stocks of companies from the semiconductor, telecommunications and freight (maritime and aviation) sectors are performing worst. Source: xStation 5

German DE30 futures are losing nearly 0.13% during today's session. The index is still trading in a narrow trading range located around local peaks. Source: xStation 5

News:

Shares of SAP (SAP.DE) SE are losing nearly 3.7% during today's session after sales in the cloud division in the second quarter fell short of analysts' estimates. Europe's largest software company slightly raised its operating profit forecast for the year.  The second-quarter results "put us on the right trajectory" to raise its operating profit forecast, chief financial officer Dominik Asam said in a statement.

Selected results presented by the company. Source: Bloomberg

The company's shares today tested an important support zone defined by the 100-day EMA (purple curve) and the abolition of the 61.8% FIbo of the downward wave initiated in July 2020.

BNP Paribas Exane has downgraded its recommendation on Mercedes-Benz (MBG.DE) shares to "neutral" from its previous "outperform" rating. The company's shares are currently losing 3.6%. 

Mercedes (MBG.DE) shares have also tested the support level set by the lower channel of the medium-term uptrend. Source: xStation 5

Sartorius (SRT.DE) confirmed its forecasts for the financial year and reported sales for the first half of the year, which were below analysts' average estimates.

FIRST-HALF RESULTS:

•  Revenues: €1.74 billion, -16% y/y, forecast €1.8 billion

• Adjusted Ebitda: €516.7 million, -26% y/y, €538 million forecast

• Adjusted Ebitda margin: 29.8% vs. 33.9% y/y, forecast 30%

• Orders: €1.45bn, -33% y/y

The company continues to forecast an adjusted Ebitda margin of 30% this year, estimated at 30.7%. The company's shares are losing nearly 2%.

Source: xStation 5

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

Information from individual companies in the DAX index. Source: Bloomberg