EUROPE MARKETS / Very hard at US consumer prices | News

FRANKFURT (Dow Jones) – European stock markets closed very tight on Wednesday. According to the information from the trade, it was primarily a technical counter-move that had been going on since the previous day. The stock exchange reacted very variable to the publication of the CPI in the US, but the positive interpretation won in the end.

Prices in April increased by 8.3 percent. year on year, more than expected 8.1%, but slightly decreased compared to the March reading of 8.5%. Investors hoped that inflation was at its peak. The DAX gained 2.2 percent to 13,829 and the Euro Stoxx 50 by 2.6 percent to 3,648.

Bayer with the glyphosate dispute in the spotlight

Among the individual actions, the focus was on Bayer. The share fell by 6.2 percent. The reason was that US Attorney General Elizabeth Prelogarder made a statement explaining the Justice Department’s view of Bayer’s appeal on Hardeman’s glyphosate and agreed with the plaintiffs. In terms of the outcome in favor of Bayer, this reduces the likelihood that the Supreme Court will hear the case and then rule in Bayer’s favor, commented Jefferies. The US Supreme Court is considered pro-business.

In turn, Allianz significantly increased by 5.9 percent. “The market puts an end to US compensation payments,” one trader said. The insurer announced that it would put aside another 1.9 billion euros, previously it set aside 3.7 billion euros. The background is that Allianz Global Investors (“Structured Alpha”) funds suffered huge losses in 2020, with several investors complaining thereafter. The US Securities and Exchange Commission and the Department of Justice were also involved. “It’s positive that this has no impact on dividend policy,” one trader said. Business results for the first quarter were also positive, operating profit was nearly 7 percent. higher than expected.

Energy supplier Eon (+ 3.8%) earned less from its operations in the first quarter and achieved a lower adjusted profit. The result was burdened by high energy prices and a difficult market environment. But this was expected. Citi analysts were surprised by the scale of the forecast reduction in Siemens Energy, the share fell by 2.7 percent.

ThyssenKrupp (+ 11.2%) raised its forecasts partly after strong price gains in the steel and materials trade and now expects an adjusted operating profit of at least 2 billion instead of the previous 1.5 to 1.8 billion euros. At the same time, sales should increase by at least 10 percent, not just about 5 percent.

Corestate fell another 30 percent after a decline from the previous day. The real estate investment manager announced on Monday after the market close that he was exploring new ways to refinance convertible bonds (maturing in November 2022) and bonds (maturing in April 2023).

After online pharmacy stocks slumped the day before, prices rose sharply on Wednesday. In retail, reference was made to a report in the specialist journal Apotheke Adhoc according to which e-prescriptions are to become mandatory in Germany from September. The Apotheke store gained 19.1 percent, Zur Rose – 9.7 percent.

Roche was burdened with development failure

Roche shut up very weakly. Shares were down 5.3 percent as the anti-cancer drug missed its original endpoint. This was seen as a possible “catalyst” for the group, with high hopes. “Now this has to be subtracted from the value of the pipeline,” said one market participant.

Ahold Delhaize lost 5.2 percent. “The numbers are as expected, but the prospects are a burden,” said one dealer. The Dutch-Belgian supermarket operator stresses the risk of inflation, especially higher purchase costs and supply chain problems.

===

Index Closing Development Development Development

was absolute in% of

the beginning of the year

Euro Stoxx 50 3 647.87 +93.07 + 2.6% -15.1%

Stoxx 50 3 562.44 +53.97 + 1.5% -6.7%

Stoxx 600 427.59 +7.30 + 1.7% -12.3%

XETRA-DAX 13 828.64 +293.90 + 2.2% -12.9%

FTSE-100 London 7 347.66 +104.44 + 1.4% -1.9%

CAC-40 Paris 6,269.73 +152.82 + 2.5% -12.4%

AEX Amsterdam 682.70 +12.96 + 1.9% -14.4%

ATHEX-20 Athens 2,072.22 -3.64 -0.2% -3.3%

BEL-20 Brussels 3,958.30 +56.71 + 1.5% -8.2%

BUX Budapest 40 929.35 +265.87 + 0.7% -19.3%

OMXH-25 Helsinki 4 663.76 +87.86 + 1.9% -17.9%

ISE NAT. 30 Istanbul 2,735.81 -36.91 -1.3% + 35.1%

OMXC-20 Copenhagen 1,619.05 -10.80 -0.7% -13.1%

PSI 20 Lisbon 5 721.02 +68.94 + 1.2% + 4.0%

IBEX-35 Madrid 8 312.60 +173.40 + 2.1% -4.6%

FTSE-MIB Milan 23 724.20 +654.42 + 2.8% -15.6%

RTS Moscow 1 123.93 +35.91 + 3.3% -29.6%

OBX Oslo 1,088.63 +14.60 + 1.4% + 1.9%

PX Praga 1 298.70 +0.86 + 0.1% -8.9%

OMXS-30 Stockholm 1,977.47 +34.36 + 1.8% -18.3%

WIG-20 Warsaw 1 718.07 -1.17 -0.1% -24.2%

ATX Vienna 3,081.81 +54.07 + 1.8% -21.1%

SMI Zurich 11 553.66 +11.94 + 0.1% -10.3%

Fixed Income Market Latest Absolute +/- YTD

10-year return from Germany 0.99 -0.02 +1.17

10-year profitability in the USA 2.95 -0.05 +1.44

FOREX last +/-% Wed 8:22 Tue 17:32% YTD

EUR / USD 1.0544 + 0.1% 1.0547 1.0534 -7.3%

EUR / JPY 137.16 -0.1% 137.41 137.25 + 4.8%

EUR / CHF 1.0445 -0.4% 1.0485 1.0485 + 0.7%

EUR / GBP 0.8561 + 0.1% 0.8548 0.8564 + 1.9%

USD / JPY 130.08 -0.3% 130.36 130.26 + 13.0%

GBP / USD 1.2314 -0.0% 1.2340 1.2298 -9.0%

USD / CNH (offshore) 6.7448 -0.0% 6.7485 6.7606 + 6.1%

Bitcoin

BTC / USD 30 688.05 + 1.5% 31 420.44 31 149.37 -33.6%

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 105.58 99.76 + 5.8% 5.82 + 43.9%

Brent / ICE 107.68 102.46 + 5.1% 5.22 + 41.7%

METALS last day before +/-% +/- USD% YTD

Gold (spot) 1,853.80 1,838.46 + 0.8% +15.34 + 1.3%

Silver (Spot) 21.70 21.27 + 2.0% +0.43 -6.9%

Platinum (Spot) 1 001.80 968.43 + 3.4% +33.38 + 3.2%

The future of copper 4.23 4.15 + 1.7% +0.07 -5.1%

===

Contact to the author: manuel.priego-thimmel@wsj.com

DJG / mpt / flf

(END) Dow Jones Newswires

May 11, 2022 at 12:20 PM EST (4:20 PM GMT)

Selected leveraged products in Ahold Delhaize (Ahold)Through knockouts, speculative investors can disproportionately participate in price movements. Just choose the leverage you want and we’ll show you the right open-end products on Ahold Delhaize (Ahold)

The leverage must be between 2 and 20

No data

Leave a Comment