EUROPEAN MARKETS / Good mood continues – Samsung supports the technology sector | News

FRANKFURT (Dow Jones) – European stock markets continued Thursday’s gains from the previous day. DAX increased by 2 percent to 12,843 points, Euro-Stoxx-50 increased by 1.9 percent to 3,489 points. “The market is becoming more relaxed in relation to central banks,” said one market participant. Central banks could curb inflation without plunging the world economy into a deeper recession, he added. On top of that, the US was importing price stability via the fixed dollar Eurozone an increase in imports through a weak currency.

Berenberg found the resignation of British Prime Minister Boris Johnson as head of the conservative Tory party fundamentally positive. Until a successor is found, he wants to remain prime minister. In Berenberg’s view, resignation in the short term will increase uncertainty, but both the economy and markets should benefit from this gap. The conflict with the EU should dissipate, which should have a positive impact on investment behavior. The pound should appreciate.

Samsung provides a cheap template

Our focus is now on a earnings season in which Samsung issued a heavy debt. According to preliminary calculations, sales of the chip giant increased by 21 percent in the last quarter. This supported sentiment for semiconductor and tech stocks (+ 3.3%). Semiconductor stocks in particular were very strong following Samsung’s steep stencil. Aixtron gained 5.8%, Infineon increased by 3.4%. despite the reduction of the target price by Jefferies.

The main risk remains the gas crisis and the question here is whether gas will flow back to Nord Stream 1 after the repair break that began on July 11 and usually lasts ten days. Meanwhile, the price of gas continued to rise and rose by almost 8% at market close. The risk is a new rise in gas prices, which will then re-fuel the inflation debate.

With the Stoxx sub-index growing 5.3 percent, auto stocks top the list, along with commodity stocks (+ 5.4%). “Due to the drop in sales, many have ignored the fact that margins are very good,” said one market participant. If there is a shift in China now and the US market finds a bottom, sales are likely to pick up again. In addition, they have eased supply chain problems.

Nordex (+ 9.2%) benefited from the strong procurement situation. In the second quarter, the company said, orders totaled approximately 1,836 gigawatts after 1,534 gigawatts in the same period last year. In addition, there is little to prevent a return to TecDAX and SDAX, provided that Nordex does not only provide order data in quarterly data.

Lufthansa grew by 4.6 percent. Entrepreneur Klaus-Michael Khne increased his share to 15.01 from 10.01%. This makes him the largest single shareholder before the federal government, which still holds 14.09 percent through the Economic Stability Fund. Delivery Hero recovered from the previous day and gained 13.5%.

After the subway also Gerry Weber with decent numbers

“The mood for trading is improving,” said one market participant. After the Metro, Gerry Weber also published unexpectedly good data. The company has raised its revenue projections and says it has the potential to make a profit based on EBITDA. Gerry Weber increased 1.9 percent.

At TecDAX, the Suse lagged behind the overall market with a plus of 0.4 percent, which in itself was better than expected. However, the economic situation is giving rise to concern at the moment, says Suse. The trader pointed out that the company is struggling with negative currency influences. Jefferies found the report for the second fiscal quarter to be somewhat mixed. The numbers were in line with expectations, but the tough macro environment makes itself felt in the outlook.

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Index Closing Development Development Development

. was absolute in% of

. the beginning of the year*

Euro Stoxx 50 3 488.50 +66.66 + 1.9% -18.8%

Stoxx-50 3500.56 +55.21 + 1.6% -8.3%

Stoxx 600 415.01 +7.67 + 1.9% -14.9%

XETRA-DAX 12 843.22 +248.70 + 2.0% -19.2%

FTSE-100 London 7 189.08 +81.31 + 1.1% -3.7%

CAC-40 Paris 6,006.70 +94.32 + 1.6% -16.0%

AEX Amsterdam 671.42 +14.71 + 2.2% -15.9%

ATHEX-20 Athens 1900.10 +42.50 + 2.3% -11.3%

BEL-20 Brussels 3 768.53 +56.82 + 1.5% -12.6%

BUX Budapest 39 689.27 +337.19 + 0.9% -21.8%

OMXH-25 Helsinki 4 597.47 +112.79 + 2.5% -19.5%

ISE NAT. 30 Istanbul 2 613.04 +8.61 + 0.3% + 29.0%

OMXC-20 Copenhagen 1 689.19 +13.07 + 0.8% -9.4%

PSI 20 Lisbon 5 884.09 +83.10 + 1.4% + 7.1%

IBEX-35 Madrid 8122.50 +173.90 + 2.2% -6.8%

FTSE-MIB Milan 21 558.07 +637.08 + 3.0% -23.5%

RTS Moscow 1 132.49 +30.85 + 2.8% -29.0%

OBX Oslo 1 090.41 +31.72 + 3.0% + 2.0%

PX Praga 1 220.08 +7.49 + 0.6% -14.4%

OMXS-30 Stockholm 1,954.58 +35.91 + 1.9% -19.2%

WIG-20 Warsaw 1 708.80 +53.96 + 3.3% -24.6%

ATX Vienna 2,816.36 +54.00 + 2.0% -27.6%

SMI Zurich 10 940.98 +100.38 + 0.9% -15.0%

* at the end of the day

FOREX last +/-% Th 8:02 Wed 17:05% YTD

EUR / USD 1.0165 -0.2% 1.0207 1.0188 -10.6%

EUR / JPY 138.23 -0.1% 138.67 138.22 + 5.6%

EUR / CHF 0.9895 + 0.1% 0.9896 0.9886 -4.6%

EUR / GBP 0.8466 -0.9% 0.8544 0.8559 + 0.8%

USD / JPY 135.95 + 0.0% 135.85 135.66 + 18.1%

GBP / USD 1.2005 + 0.7% 1.1946 1.1904 -11.3%

USD / CNH (offshore) 6.7007 -0.2% 6.7009 6.7125 + 5.5%

Bitcoin

BTC / USD 20 896.89 + 2.7% 20 265.00 20 127.03 -54.8%

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

WTI / Nymex 104.18 98.53 + 5.7% 5.65 + 44.4%

Brent / ICE 106.03 100.69 + 5.3% 5.34 + 41.5%

GAS VT close +/- EUR

Dutch TTF 184.50 174.50 + 7.9% 13.50 + 36.0%

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

Gold (spot) 1,740.83 1,738.77 + 0.1% +2.06 -4.9%

Silver (Spot) 19.26 19.21 + 0.3% +0.05 -17.4%

Platinum (Spot) 880.50 860.15 + 2.4% +20.35 -9.3%

The future of copper 3.54 3.42 + 3.6% +0.12 -20.3%

YTD at the end of the day

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

DJG / mpt / ros

(END) Dow Jones Newswires

July 7, 2022 12:16 PM CET (4:16 PM GMT)

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