EUROPE MARKET / Shares post slight increases on Ascension Day | News

FRANKFURT (Dow Jones) – European stock markets saw moderate gains on Thursday afternoon. The Euro Stoxx 50 improved by 0.3 percent to 3,689 points. In DAX, trading over the holiday season also rose by 0.3 percent to 14,056 points. “14,000 is the sign of the hour,” says Thomas Altmann of QC Partners. In much of Europe, Christmas trading only results in low sales. Exchanges remain closed in Switzerland, Denmark, Norway, Sweden, Finland and the three Baltic countries. Ascension Day is also a public holiday in Germany, Austria, Liechtenstein, France, Belgium, the Netherlands and Luxembourg, even though the stock exchanges are open here.

On the one hand, the moods are supported by minutes from the last meeting of the US central bank, which were released the previous evening. Hence, the pressure on an interest rate hike may not be as strong as feared: “Certainly positive for the equity markets that the Fed protocol makes an even larger 75bp rate hike even less likely.” says asset manager Altmann. Another market participant could also gain something positive from the protocol: “There are first signs that inflation has breached its peak,” said one trader. And one analyst points out that central bankers see the US economy in a strong condition, which should also support equity markets.

On the other hand, it is supported by the fact that the blockade in Shanghai is now being lifted in small steps, bringing the economy back to pace. The port there is again operating at 95 percent and is therefore almost normal. The German stock market is considered to be particularly dependent on China as the economies are closely intertwined.

Bayer asked with an increased target price

Bayer gained 1.6 percent after Citigroup analysts recommended buying the stock with a target price of € 106. Citigroup sees far greater potential for the blood thinner Asundexian than consensus. While analysts believe the drug has a sales potential of over $ 6 billion, the expected consensus is only $ 1 billion. The market launch is expected in 2027. However, first approvals with minor indications may also come earlier.

With a discount of 1.7 percent, STMicroelectronics breaks this trend more easily. Equita Sim analysts point to poor production forecasts at Apple. This is bad news for the semiconductor company, Apple plans to make 220 million iPhones in 2022 – a number well below market forecasts, according to the report. Apple is STMicroelectronics’ most important customer, accounting for approximately 20 percent of sales. According to analysts, the lion’s share of the proceeds from Apple would go to the iPhone component account. If the report is correct, the semiconductor group would lose between $ 100 million and $ 150 million in sales in 2022, according to Equita.

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Stock index last + / -% absolute + / -% YTD

Euro Stoxx 50 3 689.40 + 0.3% 12.30 -14.2%

Stoxx 50 3 607.70 + 0.3% 9.05 -5.5%

DAX 14 056.36 + 0.3% 48.43 -11.5%

MDAX 29 142.42 + 0.1% 33.98 -17.0%

TecDAX 3,057.96 + 0.1% 1.80 -22.0%

SDAX 13,363.39 + 0.6% 83.96 -18.6%

FTSE 7 527.98 + 0.1% 5.23 + 1.9%

CAC 6 329.28 + 0.5% 30.64 -11.5%

Fixed Income Market Latest Absolute +/- YTD

10-year return from Germany 0.92 -0.03 +1.10

10-year profitability in the USA 2.73 -0.02 +1.22

FOREX last +/-% Th 8:40 Wed 17:51% YTD

EUR / USD 1.0712 + 0.3% 1.0665 1.0659 -5.8%

EUR / JPY 135.64 -0.2% 135.71 135.70 + 3.6%

EUR / CHF 1.0278 + 0.0% 1.0264 1.0267 -0.9%

EUR / GBP 0.8497 + 0.1% 0.8496 0.8504 + 1.1%

USD / JPY 126.62 -0.5% 127.25 127.30 + 10.0%

GBP / USD 1.2606 + 0.2% 1.2553 1.2534 -6.8%

USD / CNH (offshore) 6.7510 + 0.6% 6.7613 6.7130 + 6.2%

Bitcoin

BTC / USD 29 139.22 -2.2% 29 627.63 29 608.67 -37.0%

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

WTI / Nymex 111.21 110.33 + 0.8% 0.88 + 52.8%

Brent / ICE 114.90 114.03 + 0.8% 0.87 + 51.2%

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

Gold (spot) 1,845.93 1,853.47 -0.4% -7.55 + 0.9%

Silver (Spot) 21.83 21.99 -0.7% -0.16 -6.4%

Platinum (Spot) 945.08 947.80 -0.3% -2.72 -2.6%

The future of copper 4.22 4.26 -0.8% -0.04 -5.2%

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Contact the author: maerkte.de@dowjones.com

DJG / thl / ros

(END) Dow Jones Newswires

May 26, 2022 06:44 ET (10:44 GMT)

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