On Monday, stock markets in Europe are clearly gaining value, which is related to information about the extension of negotiations on US customs changes. On the other hand, the economic calendar does not contain too many data releases, although in this case, attention will be focused on announcements regarding tariffs. On the cash market, the German DAX is currently up 0.75%, the French CAC40 is up 0.3%, and the British FTSE100 is up 0.05%.
Currently observed volatility in the broader European market. Source: xStation
The German DE40 index is gaining 0.92% during today's session and 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
Commerzbank AG (CBK.DE) plans to sell a significant portion of its corporate loan portfolio risk, according to people familiar with the matter, as the German lender seeks to free up capital to fend off a potential takeover bid from UniCredit SpA (UCG.IT). Commerzbank shares are up 1.6% today following the news.
Energy stocks in Europe fell on weaker-than-expected results from Shell Plc (SHELL.NL) and a decline in oil prices.
The energy giant reported weaker trading results for Q2 and weaker-than-expected profits in its downstream business. Despite higher refining margins of $8.9/bbl (up from $6.2) and chemical margins of $166/tonne (up from $126), Shell expects adjusted earnings in this segment to be below break-even. Furthermore, Shell forecasts a net result of between a $400 million loss and a $200 million profit, compared to a consensus estimate of a $27 million loss. Trading activity is expected to be lower than in the first quarter. The company's shares are down 2.55% today.
Siemens Healthineers (SHL.DE) shares are down 2.2% today. The reason is China's decision to impose import restrictions on medical devices from the European Union, which negatively affects the company's sales prospects in this key market.
Capgemini (CAP.FR) shares are down 2.5% today. The decline is due to the announcement of the acquisition of WNS for $76.50 per share, which involves a cash expenditure of $3.3 billion and raises investor concerns about the potential risks and short-term costs of integrating the acquisition
Source: xStation
Other news from individual DAX companies. Source: Bloomberg Financial LP
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