MARKETS EUROPE / Up – Wall Street gives a new impetus | News

FRANKFURT (Dow Jones) – On the European stock markets, the upward movement will accelerate in the afternoon thanks to the continuation of strong gains in Wall Street indices. The Euro Stoxx 50 improved by 1.5 percent to 3,733 points. In DAX, trade over the holiday season increased by 1.4 percent to 14,206 points. The holiday trade is leading to low turnover in much of Europe, especially as the stock exchanges are closed in Switzerland, Denmark, Norway, Sweden, Finland and the three Baltic States.

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 and did not contain any negative surprises. “It is certainly positive for the stock markets that the Fed protocol makes an even larger 75bp rate hike even less likely,” says asset manager Altmann. “There are first signs that inflation has breached its peak,” another participant reads in the notes. And one analyst points out that central bankers see the US economy in good shape.

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 climbed 2.1 percent to € 65.11 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.

With a discount of 0.3 percent, STMicroelectronics breaks this trend more easily. Equita Sim analysts point to poor production forecasts from Apple, which is bad news for a semiconductor company for which Apple is the number one customer with around 20 percent of sales. If the production plan report is correct, STMicro will lose between $ 100 million and $ 150 million in sales in 2022.

The BT group fell 3.0 percent after it was revealed that the UK government was investigating an increase in Altice’s stake in light of potential domestic concerns. Altice UK increased its stake in the BT Group last December, acquiring a further approximately 585 million shares. This pushed Altice’s share to 18 from the previous 12.1 percent. This has led to speculation that French billionaire Altice-UK, owner Patrick Drahi, may be contacting the BT Group.

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

Euro Stoxx 50 3 731.80 + 1.5% 54.70 -13.2%

Stoxx 50 3 627.51 + 0.8% 28.86 -5.0%

DAX 14 205.80 + 1.4% 197.87 -10.6%

MDAX 29 348.26 + 0.8% 239.82 -16.4%

TecDAX 3,090.20 + 1.1% 34.04 -21.2%

SDAX 13 481.75 + 1.5% 202.32 -17.9%

FTSE 7 565.25 + 0.6% 42.50 + 1.9%

CAC 6 386.80 + 1.4% 88.16 -10.7%

Fixed Income Market Latest Absolute +/- YTD

10-year return from Germany 0.96 +0.01 +1.14

10-year profitability in the USA 2.74 -0.01 +1.23

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

EUR / USD 1.0714 + 0.3% 1.0665 1.0659 -5.8%

EUR / JPY 136.27 + 0.2% 135.71 135.70 + 4.1%

EUR / CHF 1.0279 + 0.0% 1.0264 1.0267 -0.9%

EUR / GBP 0.8524 + 0.4% 0.8496 0.8504 + 1.4%

USD / JPY 127.19 -0.1% 127.25 127.30 + 10.5%

GBP / USD 1.2570 -0.1% 1.2553 1.2534 -7.1%

USD / CNH (offshore) 6.7635 + 0.8% 6.7613 6.7130 + 6.4%

Bitcoin

BTC / USD 29 118.33 -2.3% 29 627.63 29 608.67 -37.0%

ROHOEL the last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 113.76 110.33 + 3.1% 3.43 + 56.3%

Brent / ICE 116.67 114.03 + 2.3% 2.64 + 15 255.4%

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

Gold (spot) 1,852.21 1,853.47 -0.1% -1.27 + 1.2%

Silver (Spot) 22.04 21.99 + 0.2% +0.05 -5.5%

Platinum (Spot) 952.74 947.80 + 0.5% +4.94 -1.8%

Future Miedź 4.26 4.26 + 0.1% +0.00 -4.3%

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Contact the author: maerkte.de@dowjones.com

DJG / thl / voice

(END) Dow Jones Newswires

May 26, 2022 10:25 ET (14:25 GMT)

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