- Fashion companies under downward pressure
- Morgan Stanley optimistic about biotech companies
Overall market situation:
Monday's session on European markets brings a significant deterioration in market sentiment. Very weak sentiment persists in the luxury brand companies sector, which are losing in the face of weaker sentiment in China and comments by the chairman of the board of directors of Valentino and Balmain, Mr. Rachid Mohamed Rachid.
At the moment, most companies listed in Europe during Monday's trading session are down. Companies linked to the luxury goods sector are doing particularly poorly. Source: xStation
Prices of contracts based on the German DE30 are losing nearly 0.73% on an intraday basis and are slightly breaking out below the support zone set by the 200-day exponential moving average (gold curve). Source: xStation 5
News:
The only sector that is showing better sentiment across the broad market spectrum is pharmaceutical companies, benefiting from Morgan Stanley's upbeat comments about the sector. The investment bank believes the sector could provide a refuge from slowing growth. The bankers pointed to obesity treatments and "smart chemotherapy" as segments that could create high demand in the market in the future, which directly appears to support Novo Nordisk (NOVOB.DK) and AstraZeneca (AZN.UK), but also sees markets reacting positively to improved earnings momentum in the short term. Biopharmaceuticals in the European Union are expected to post nearly 12-13% net profit growth over the next two years (twice that for the Old Continent as a whole).
Source: xStation 5
Entain (ENT.UK), has been weighing on the entertainment sector and has seen the largest scale of declines in the sector, reaching nearly 9%. The company issued a warning on online gaming revenues.
Source: xStation 5
BNP Exane raised its recommendation on Ubisoft (UBI.FR) shares to an "outperform" rating and sets a target price of €37 per share. The bankers say the market is underestimating the prospects stemming from the release of new games Star Wars: Outlaws and Assassin's Creed: Red.
Source: xStation 5
The largest percentage changes in individual companies in the DAX index. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
Daily summary: Sentiments on Wall Street stall at the end of the week🗽US Dollar gains
US100 loses 0.5% 📉Meta shares decline extends on AI CAPEX worries & Deutsche Bank remarks
AbbVie near 1-month low after earnings report 📉
CHN.cash under pressure despite positive Trump remarks 🚩
