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DE30 tests support at 12,600
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Hugo Boss (BOSS.DE) points with optimistic outlook for the rest of the year
Today's European session is marked by declines, which have dominated the mood on the Old Continent for several days now. The German DE30 is down nearly 1.07%, the French FRA40 is losing 1.10%, and the Polish W20 is down 1.15%.
Despite PPI inflation readings and jobless claims in the US, investors' attention will turn to the financial results of major US banks for Q2 2022.
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DE30 index chart, H4 interval. The German blue chip benchmark is testing support at 12,600 points. Source: xStation 5
Company news:
Brookfield Asset Management and DigitalBridge Group have won a bid for a stake in Deutsche Telekom (DTE.DE) and reached an agreement on a majority stake in the company's tower business. According to people familiar with the matter, the 51% stake in the company was valued at €17.5 billion, and the deal itself, if finalized, could be announced later today. Bloomberg Agency noted that this could be the largest digital infrastructure deal this year.
Hugo Boss (BOSS.DE) is raising its sales forecast for the full year. Sales are expected to be between €3.3 billion and €3.5 billion (previously the range was €3.1 billion to €3.2 billion), and EBIT between €285 million and €310 million (previously €250 million-285 million). As shown in the preliminary results for the second quarter, EBIT is expected to reach €100 million (forecast: €63.7 million) and revenues €878 million (forecast: €758.4 million).
Analyst's action:
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Morgan Stanley raised its recommendation on Nemetschek SE (NEM.DE) from "underweight" to "equal-weight." The target price was set at €72.5. The company will publish its next financial results on July 28.
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
