MARKET EUROPE / Fester – Valneva soars after the Pfizer entry fee | News

FRANKFURT (Dow Jones) – European stock markets started the week with gains on Monday. The DAX rose by 1.1 percent to 13,266 points and the Euro-Stoxx-50 by 0.9 percent to 3,470 points. The business was described as quiet and largely void. There is no trade in the US due to a public holiday on the reporting date. The calm bond markets had a supportive effect. However, inflation remains a concern: in Germany producer prices rose by 33.6 percent in May compared to the previous year. This is the biggest increase since 1949.

The market negatively assessed the failure of the alliance of Emmanuel Macron’s team in the parliamentary elections. “Macron now has more and more difficulties implementing pension or labor market reforms,” ​​he said in retail. On the other hand, the CAC-40 index in Paris does not seem to be thrilled with the election result – the index increased by 0.6%, and thus did not keep up with the development across Europe.

Banking actions sought – relax in Eurozone supports

The bank shares won daily with a wide margin with a premium of 3.3%. The industry benefited from the recent recovery in the bond market. The widely recognized interest rate differential between the Italian 10Y bonds and the Bunds narrowed again to 200 basis points. The spread is considered to be an important stress indicator in the euro area.

Valneva was the focus of individual wrestling. Following the decline in EU interest in corona vaccines, a glimmer of hope appears in the French pharmaceutical company: the American pharmaceutical giant Pfizer now has 8.1 percent shares in Valneva. Shares jumped by almost 30 percent.

Bayer surged 1.3 percent. The group won the fourth consecutive glyphosate lawsuit. Hellofresh increased by 4.1 percent. The delivery service, which remained in the DAX index, was now weighted higher in the portfolios, according to retailers, after Delivery Hero (+ 3.8%) had to leave the index. Beiersdorf (+ 4.3%) also returned to the DAX.

ABB relented. The exchange rate fell by 1.3 percent. The group postpones the debut of the e-mobility industry. “It makes sense because of the high volatility,” says one trader. Vola is angry with the IPO. Thyssenkrupp (0.2%) announced on Friday that it would initially suspend the public offering of its hydrogen subsidiary.

Euromoney gained 26.1 percent on the London Stock Exchange. The company is in acquisition talks with a private equity consortium that includes Astorg Asset Management Sarl and Epiris LLP. The potential deal is £ 1.6 billion.

Jyske Bank takes over the Danish business from Handelsbanken

Jyske Bank grew by 17.8 percent. The house takes over business in Denmark from Swedish commercial banks. “The market position in Denmark will be significantly strengthened,” said one market participant.

Analysts’ assessments resulted in stronger price movements. For example, Varta jumped 1.4 percent, Goldman Sachs resumed monitoring the stock with “Buy” and sees a price target of € 102.

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Index Closing Development Development Development

. was absolute in% of

. the beginning of the year

Euro Stoxx 50 3 469.83 +31.37 + 0.9% -19.3%

Stoxx-50 3 399.09 +37.19 + 1.1% -11.0%

Stoxx 600 407.14 +3.89 + 1.0% -16.5%

XETRA DAX 13 265.60 +139.34 + 1.1% -16.5%

FTSE-100 London 7 121.81 +105.56 + 1.5% -5.0%

CAC-40 Paris 5.920.09 +37.44 + 0.6% -17.2%

AEX Amsterdam 641.43 +5.68 + 0.9% -19.6%

ATHEX-20 Athens 2001.26 +14.51 + 0.7% -6.6%

BEL-20 Brussels 3 722.42 +8.08 + 0.2% -13.6%

BUX Budapest 39 691.12 +391.37 + 1.0% -21.8%

OMXH-25 Helsinki 4 655.80 +89.35 + 2.0% -18.0%

ISE NAT. 30 Istanbul 2 785.18 +8.59 + 0.3% + 37.5%

OMXC-20 Copenhagen 1 608.61 +36.88 + 2.3% -13.7%

PSI 20 Lisbon 5 881.75 +118.12 + 2.0% + 7.7%

IBEX-35 Madrid 8 286.00 +140.10 + 1.7% -4.9%

FTSE-MIB Milan 22 004.05 +215.18 + 1.0% -20.3%

RTS Moscow 1 357.63 +42.20 + 3.2% -14.9%

OBX Oslo 1,115.88 +16.52 + 1.5% + 4.4%

PX Prague 1 308.90 +18.23 + 1.4% -8.2%

OMXS-30 Stockholm 1,895.24 +10.98 + 0.6% -21.7%

WIG-20 Warszawa 1 679.89 +3.22 + 0.2% -25.9%

ATX Vienna 3,055.79 +43.83 + 1.5% -21.2%

SMI Zurich 10,485.91 +34.60 + 0.3% -18.6%

FOREX last +/-% Mon 7:40 Fri 17:55% YTD

EUR / USD 1.0538 + 0.5% 1.0523 1.0473 -7.3%

EUR / JPY 142.30 + 0.5% 141.95 141.56 + 8.7%

EUR / CHF 1.0178 -0.0% 1.0176 1.0176 -1.9%

EUR / GBP 0.8602 + 0.2% 0.8605 0.8581 + 2.4%

USD / JPY 135.05 + 0.1% 134.91 135.17 + 17.3%

GBP / USD 1.2250 + 0.2% 1.2230 1.2203 -9.5%

USD / CNH (offshore) 6.6860 -0.4% 6.6800 6.7176 + 5.2%

Bitcoin

BTC / USD 20 631.06 + 1.3% 19 880.08 20 583.80 -55.4%

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

WTI / Nymex 109.91 109.56 + 0.3% 0.35 + 51.0%

Brent / ICE 113.55 113.12 + 0.4% 0.43 + 50.5%

GAS VT close +/- EUR

Dutch TTF 122.70 124.10 + 4.2% 4.96 + 50.5%

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

Gold (spot) 1,837.99 1,840.30 -0.1% -2.32 + 0.5%

Silver (Spot) 21.58 21.67 -0.4% -0.09 -7.4%

Platinum (Spot) 935.25 933.70 + 0.2% +1.55 -3.6%

Copper Future 4.02 4.01 + 0.1% +0.00 -9.6%

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

DJG / mpt / once

(END) Dow Jones Newswires

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

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