EUROPE MARKET / Company – but willingness to sell over 13,300 | News

Author: Herbert Rude

FRANKFURT – Dow Jones) – European stock markets are gaining ground Tuesday afternoon. DAX increased by 0.8 percent. to 13,286 points. The Euro Stoxx 50 gains 0.8 percent to 3,566 points. According to dealers, sentiment is in favor of relaxing China’s rules on the crown: the government now wants to quarantine travelers for only ten days instead of three weeks. “The market is counting on a recovery in China, which will then also support the German economy,” said one market participant.

As already noted the day before, the willingness to sell is seen above the 13,300 point mark. This means that the fluctuations in the stock market over the past few days may persist. “Bulls and Bren are still waging a bitter war,” commented QC Partners on current events. Back and forth it reflects the surroundings. While the valuations are favorable, the economic outlook is not rosy at all. Inflation, developments in the bond markets, the risk of a freeze in Russian gas supplies and the actions of central banks to curb inflation remain the main topics.

President of the ECB Krystyna Lagarde meanwhile, in Sintra, he reiterated his monetary policy position: “In line with our gradual approach, we announced that we would raise our three key interest rates by 25 basis points at the next meeting on July 21,” Lagarde said, adding: “But we also announced that we will likely raise interest rates again in September and that if the medium-term inflation outlook remains unchanged or deteriorates, we will consider a larger rate hike. ”

However, the ECB president said that although there have been signs of rising inflation expectations above 2% in recent months, long-term inflation expectations remain around 2% for a number of measures.

l actions and basic resources ahead of us

China’s hope is fueling speculation about increased demand for goods. The oil and gas stock index is thus clearly at the top of the European Stoxx indices with a plus of 2.6 percent, followed by the commodity-related core stock index, which is up 1.5 percent. But car and insurance stock indices are also growing at an above-average pace of up to 1.5 percent.

At the DAX, Porsche grew by 3.7 percent, MTU by 3.2 percent and Munich Re by 2.1 percent. On the other hand, Symrise lost 1.2% and SAP 0.9%. The Stoxx industry index for tech equities is also slightly negative with cap rates rising again.

The purchase of Siemens from Brightly is not the driver of the course

Following the acquisition of Brightly Software in the US by Siemens for nearly $ 1.6 billion, this share increased by 0.9 percent. In this way, Siemens complements the digitization and know-how in the field of building technology. RBC analysts talk about a logical step towards strengthening the software sector, in particular the software-as-a-service (SaaS) business. However, the impact on profit is small.

Adidas and Puma are losing up to 0.6 percent. Competitor Nike released quarterly data at the end of Monday, which was characterized by increased inventories and supply chain bottlenecks.

Philips tends to be 1.5% lighter. Dealers see no relief in the interim report on the group’s problematic fans. Nevertheless, he speaks of the “encouraging” results of an independent investigation. As such, the problem with decaying foam, which is potentially pathogenic, has appeared almost exclusively with the use of unauthorized cleaners. As ING notes, Philips is not responding to the allegation that it was acting too late in the update. The recall campaign is also likely to drag on for a long time.

In Stockholm, SAS grew by 6.2 percent. The shares of the diseased Scandinavian airline benefit from news that the Norwegian government has essentially agreed to waive the repayment of the aid in exchange for shares in the company.

Hugo Boss and K + S very firm with analysts’ recommendations

In MDAX, Hugo Boss rose 2.9 percent after Jefferies analysts raised stake to “buy”. With an increase of 6 percent. K + S received a positive evaluation from DZ Bank.

The Friedrich Vorwerk Group makes a jump of almost 9 percent. The company is building part of the connection line for the LNG terminal in Wilhelmshaven. The order has a volume in the medium two-digit range of millions. Bet-at-home is gaining a good 6 percent, although the online betting provider has cut its forecasts after losing a legal battle in Switzerland.

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

Euro Stoxx 50 3 567.46 + 0.8% 28.58 -17.0%

Stoxx 50 3 519.29 + 0.6% 21.03 -7.8%

DAX 13 287.69 + 0.8% 101.62 -16.4%

MDAX 27 278.47 + 0.5% 125.03 -22.3%

TecDAX 2,979.68 + 0.7% 21.15 -24.0%

SDAX 12 436.26 + 0.8% 92.98 -24.2%

FTSE 7 336.13 + 1.1% 77.81 -1.7%

CAC 6 118.07 + 1.2% 70.76 -14.5%

Fixed Income Market Latest Absolute +/- YTD

10-year return from Germany 1.64 +0.09 +1.82

10-year profitability in the USA 3.22 +0.02 +1.71

FOREX last +/-% Tue 8:18 Mon, 18:40% YTD

EUR / USD 1.0535 -0.5% 1.0580 1.0597 -7.3%

EUR / JPY 143.44 + 0.0% 143.37 143.40 + 9.6%

EUR / CHF 1.0085 -0.3% 1.0114 1.0126 -2.8%

EUR / GBP 0.8624 -0.0% 0.8623 0.8626 + 2.6%

USD / JPY 136.15 + 0.5% 135.52 135.32 + 18.3%

GBP / USD 1.2219 -0.4% 1.2271 1.2284 -9.7%

USD / CNH (offshore) 6.7097 + 0.3% 6.6859 6.6895 + 5.6%

Bitcoin

BTC / USD 20 969.46 + 0.9% 20 820.08 20 746.62 -54.6%

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

WTI / Nymex 110.76 109.57 + 1.1% 1.19 + 53.5%

Brent / ICE 117.08 115.09 + 1.7% 1.99 + 55.2%

GAS VT close +/- EUR

Dutch TTF 128.65 129.69 -0.6% -0.81 + 52.0%

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

Gold (spot) 1,825.90 1,822.60 + 0.2% +3.30 -0.2%

Silver (Spot) 21.21 21.17 + 0.2% +0.04 -9.0%

Platinum (Spot) 925.39 911.55 + 1.5% +13.84 -4.7%

The future of copper 3.79 3.76 + 0.9% +0.03 -14.6%

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Contact the author: maerkte.de@dowjones.com

DJG / hru / once

(END) Dow Jones Newswires

June 28, 2022 09:24 ET (13:24 GMT)

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