On Tuesday, European stock markets are losing value and halting attempts to negate the correction of recent days. On the cash market, the German DAX is currently down 0.9%, the French CAC40 is down 0.54%, and the British FTSE100 is down 0.3%. Investors' attention today is focused on JOLTS data from the US and speeches by central bankers.
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Create account Try a demo Download mobile app Download mobile appCurrently observed volatility in the broader European market. Source: xStation
The German DE40 index is down 0.8% in today's session, although it remains above the support zone set by the 50-day exponential moving average (blue curve on the chart). As long as the D40 remains above this zone, the overall upward trend remains stable (as determined by the exponential moving averages). The 14-day RSI is returning to around 53 points (neutral values). Source: xStation
Market news
Mediobanca analysts have downgraded their recommendation for Deutsche Bank (DBK.DE) shares to “neutral” and set a new target price of €27 per share. The previous rating was “outperform”. The bank's shares are down more than 2% today.
Sodexo (SW.FR) announced its third-quarter revenues, which were in line with analysts' average forecast. Revenues amounted to EUR 6.12 billion, +0.8% y/y, while EUR 6.12 billion was expected. Organic revenue (growth) was +3%, compared to the forecast of +2.99%. The company confirmed its forecast that organic revenue will grow by 3% to 4% for the full year. Sodexo shares are down 1.25% today.
Banca Mediolanum is selling its entire 3.5% stake in Mediobanca (MB.IT) at a price of EUR 18.85. MB shares are down 4% in today's session.
Other news from individual DAX companies. Source: Bloomberg Financial LP
