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DE30 tries to make up for end-of-week losses
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Nike's gross margin spoils the mood around Adidas and Puma stocks
The last trading session on the Old Continent this week brings moderate gains in stock index valuations. The DE30 remains above the 12,000-point barrier and is trading with near 0.5% gains. Investor attention today is focused on PCE inflation from the US and UoM sentiment. In Europe, investors' attention was captured by the inflation reading, which came in at 10% in the Eurozone against expectations of 9.7%.
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Create account Try a demo Download mobile app Download mobile appThe swap market is currently pricing in a near 79% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg
Chart of the DE30 index, D1 interval. The benchmark German blue chips are posting moderate gains today and remain above the 12,000-point barrier. Source: xStation 5
Friday's German market session brings lower valuations for most economic sectors. The real estate sector is under downward pressure. Source: Bloomberg
News:
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Nike's (NKE.US) weak gross margin performance is putting downward pressure on Adidas (ADS.DE) and Puma (PUM.DE). Both companies are currently losing more than 3.5%. The conclusion of the first quarter is that Nike's business is being hampered by increased logistics costs and a strong dollar. The company enters the holiday season with large inventories, which is not a good sign.
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Sentiment is improving around Deutsche Post (DPW.DE), which is benefiting from raised bank recommendations. Yesterday JP Morgan raised its rating, and today Bernstein Research raised the company's shares from "market-perform" to outperform" The target price, however, was lowered from 44 euros to 42 euros.
Bank recommendations:
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Hugo Boss (BOSS.DE) rated "buy" by Berenberg. Target price at 57.8 euros.
Changes in institutions' holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
Largest percentage changes in companies included in the DAX index. Source: Bloomberg
The most active stocks of the DAX index (DE30). Source: Bloomberg
