DE30: Uncertainty in the U.S. wears down European benchmarks

• Uncertainty in the U.S. wears down European benchmarks

•  Investor attention focused on NFP report 

• Hypoport cuts forecasts sharply for 2023

The last trading session in Europe this week brings declines for most companies listed on the Old Continent in the face of uncertainty caused by problems in the U.S. banking sector and the increasing likelihood of a hawkish turn in Fed policy. Investors' attention today is focused on the NFP reading from the US, which will undoubtedly bring huge volatility at the time of publication. At the same time, Canada will publish its labor market data. A speech by President Lagarde is scheduled for 3:00 pm GMT. 

The last session on European trading floors this week brings declines in the stock valuations of most listed companies. Markets are positioning themselves ahead of the U.S. NFP report, which will be released at 1:30 p.m GMT. Source: xStation 5

• Investors' attention is now focused primarily on the health of the U.S. banking sector after SVB Bank's 60% drop in yesterday's session, which contributed to the gloomy mood among other similar entities. Deutsche Bank (DBK.DE)'s stock is losing more than 7% against uncertainty, while Credit Suisse (CSGN.DE) extends yesterday's declines and slides more than 3.5%

• Declining loan demand is causing big problems for Hypoport's (HYQ.DE) business. The company's stock price collapsed by more than 8% today following the publication of weak forecasts for the future. As a result, the company forecasts that sales will fall by up to 10% and EBIT by 30%. On Monday, high volatility on the company's shares can be expected to continue, as that is when financial results will be presented. . 

• Much better sentiment remains on Daimler Truck (DTG.DE) shares, which, although losing nearly 3.5%, are benefiting from the good forecasts given by the company. The manufacturer is aiming to generate revenues of between 55 and 57 billion euros in 2023, compared to earlier expectations of 52 billion euros. Moreover, the company will pay a first dividend of €1.30 per share

DE30 chart:

Despite early dynamic declines, DE30 contracts are now trying to regain ground. Interestingly, the bulls managed to defend the support zone set by the 78.6% Fibo retracement. The key for further trading will be the reading of the NFP report and how Wall Street investors react to it after the US session opens. Source: xStation 5