- European indices gain at the end of the week
- PPI data from the US at 1:30 pm BST
- JP Morgan revises company recommendations
General market situation:
Friday's session on European stock markets brings moderate gains for most stock indexes. Germany's DAX is currently gaining 0.2%. Britain's FTSE 100 is losing more than 0.15% at the same time. The French CAC40, meanwhile, adds 0.11%. Investor attention today turns to PPI data from the US and corporate news.
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Volatility currently observed in the broad European market. Source: xStation
The German benchmark DE40 is trading nearly 0.05% lower during Friday's session. It seems that the key support points of the broad uptrend remain the zones of recent peaks (19,000 points) and the 50-day EMA (blue curve on the chart). The most important resistance, on the other hand, remains the historical peak near 19,650 points. Source: xStation
News:
JP Morgan reissued analyst coverage of BASF (BAS.DE) with a “neutral” rating and a target price of €52 per share. The company's shares are currently losing nearly 0.72%.
JP Morgan downgraded its recommendation on the shares of Salzgitter (SZG.DE) to an “underweight” rating from its previous “neutral” rating. The target price was set at €11.5. The stock is losing more than 2% in today's session.
JP Morgan raised its recommendation on Siemens Energy (ENR.DE) shares to a “neutral” rating from an earlier “underweight”. Target price at €32.8 per share. The company's shares are currently gaining 3%.
JP Morgan obniżył również rekomendację dla akcji Lanxess (LXS.DE) do oceny “underweight” z wcześniejszej “neutral”. Cena docelowa pozostaje na poziomie 26 euro. Akcje spółki tracą obecnie 3%.
Zalando (ZAL.DE) shares are trading at mixed levels after the online fashion retailer released preliminary third-quarter results that far exceeded expectations and raised its full-year forecast.
ANNUAL FORECAST
- Adjusted Ebit €440 million to €480 million, anticipated €380 million to €450 million, estimated €417.6 million
- Revenue +2% to +5%, expected 0% to +5%
- Revenue €10.3 billion to €10.7 billion, estimated €10.45 billion
- Gross merchandise volume €15.1 billion to €15.4 billion, estimated €15.07 billion
- Capital spending about €200 million
- Gross merchandise value +3% to +5%, expected 0% to +5%
PRELIMINARY RESULTS FOR Q3
- Preliminary adjusted Ebit €93 million, estimate €56.7 million
- Preliminary gross merchandise volume €3.5 billion, estimate €3.45 billion
- Preliminary revenue €2.4 billion, estimate €2.39 billion
Other news coming from individual companies in the DAX index. Source: Bloomberg Financial LP
