- European indices under downward pressure
- DAX tries to stay in the zone of yesterday's closes
- Deutsche Bank analysts boost sentiment around Symrise
Overall market situation:
Tuesday's session on European stock indices brings moderate declines. The German DAX is doing ‘relatively’ well, staying in the zone of yesterday's closes. The situation is much worse for the French CAC40, which loses 0.64%, the British FTSE 100 (-0.3%) and the Polish WIG20, which loses 0.93%. Today's session once again does not bring an excessive amount of published macro data. Investors' attention will turn to individual companies and statements by Fed bankers. The CB confidence reading from the US may also be important.
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European companies traded lower during Tuesday's trading session. Source: xStation 5
Volatility currently observed in the DAX index. Source: Bloomberg Financial LP
The German benchmark DE40 is recording minimal declines during today's session. The benchmark continues to hold within the structure of the downtrend initiated on 16 May (it was breached yesterday, however). In the medium term, the continuation of the downtrend may create room to test the historically important support level in the zone of the 50-day exponential moving average (blue curve on the chart). Locally, the most important resistance all the time remains the historical peak at 19,000 points and the local barrier defined by the former historical peak of 2 April this year (zone of 18840 points, tested now). Source: xStation 5
News:
Deutsche Bank raises its recommendation on Symrise (SY1.DE) to ‘buy’ from ‘hold’, citing improved earnings momentum. Furthermore, Deutsche highlights positive volume leverage and cost cuts.
Based on higher margin assumptions, the bank is raising EPS expectations for FY24-26 by 4-6%. The company's shares are currently gaining 2.5%.
Symrise share chart, D1 interval. Source: xStation
This morning, we saw slight declines on Fresenius (FRE.DE) shares. The shares of the dialysis subsidiary FMC lost up to two per cent in the MDax after the Economic Times report on the research success of Chinese scientists in the fight against diabetes. Diabetes can cause kidney damage as a secondary disease. Successes in treating diabetes could therefore slow down the dialysis business.
Other news coming from individual companies of the DAX index. Source: Bloomberg Financial LP
