DE30: Thursday marked by declines in Europe

• Indices on the Old Continent lose in the first phase of today's session

• DAX failed to break above the highs of the last consolidation zone

• LEG Immobilien suspends dividend payments

Thursday's session on the Old Continent brings declines in the valuations of major stock market benchmarks. This is despite a tightly constrained calendar, which does not include major readings today. However, the readings of US unemployment benefits data and US natural gas inventories data are worth a look. 

Investor sentiment on the Old Continent deteriorated during Thursday's trading session. Source: xStation 5 

• Investors' attention is focused today on the shares of LEG Immobilien (LEG.DE), which are losing more than 11% today due to the decision to stop paying dividends. Through this action, the company wants to strengthen its balance sheet in the face of uncertainty in property valuations. The company also reported results for 2022 and forecasts for 2023.

Source: Bloomberg

• Deutsche Post (DPW.DE) shares are also under downward pressure. The company communicated that earnings will fall in 2023, as the pocovid boom in the freight market recedes. EBIT is expected to be close to 7 billion euros compared to the 8.4 billion posted in 2022. The company's shares are losing nearly 2.5% today.

• There's also a lot going on in Credit Suisse (CSGN.CH) shares, which are down more than 5%. The downward pressure is exacerbated today by the announcement that the release of results has been postponed in the face of inaccuracies with the SEC. You can read more about the whole affair here.

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

Largest percentage changes and information from individual companies in the DAX index. Source: Bloomberg

DE30 chart:

DE30 futures are trading down on Thursday and struggling to maintain levels near the tops of the local consolidation zone at 15,700 points. Source: xStation 5