Overall market situation:
Sentiment during the last trading session in Europe this week is mixed. The German DAX is currently losing 0.8%, while the British FTSE100 is adding 0.85%. Volatility remains high, which indicates that the pressure from the US-China trade war is still creating uncertain ground for future stock market behavior. For this reason, any new comments on this issue may increase the dynamics of changes in the prices of financial instruments in the near future.
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Distribution of today's rates of return of companies from Europe. Source: xStation
The German DE40 index is losing 1.7% today on an intraday basis. The key element in analyzing the further, potential behavior of the index may be the element of further behavior of demand and supply at the previously tested barrier of 20,000 points, which may decide whether the further downward trend will continue. Source: xStation
News:
Novartis AG (NOVN.CH) plans to invest $23 billion in the U.S. over the next five years to ensure its key medicines for Americans are produced in the country.
The investment will fund seven new facilities, including a research facility in California and six manufacturing plants, and will expand three existing facilities in the U.S., creating 1,000 jobs.
Gerresheimer (GXI.DE) shares are up 2.5% after the company reported its first-quarter results. Adjusted EBITDA from the plastics and devices business was EUR 63.4 million, compared to estimates of EUR 63.5 million. Revenue from the plastics and devices business was EUR 294.5 million, compared to expectations of EUR 284.4 million. Gerresheimer predicts organic revenue growth of 3%-5% in 2025 and an adjusted EBITDA margin of 22%.
Upgrades:
- Raiffeisen upgraded to buy at Erste Group; PT €29
K+S upgraded to hold at Stifel; PT €14.50
Downgrades:
- BP downgraded to neutral at UBS
Lanxess downgraded to sell at Goldman
HelloFresh downgraded to neutral at JPMorgan; PT €9
Other news from DAX companies. Source: Bloomberg Financial LP
