MRKTE EUROPE / DAX rises to 13,000 points ahead of the US labor market | News

FRANKFURT (Dow Jones) – By Friday afternoon, European stock exchanges are vigorously increasing their profits. Thanks to strong car stocks, the DAX index rose 1.3 percent to 13,006 points and the Euro-Stoxx-50 index rose 0.5 percent to 3,507 points. Plus it was a surprise on the eve of the upcoming US labor market data. Because they have the potential to move the stock markets more strongly. In June, the number of jobs is expected to increase by 250,000.

A report on good jobs can weigh on the stock markets

“The inflation and employment figures are the most important right now,” states State Street Global Markets. “Anything that differs significantly from expectations is treated as a potential signal of some trend that could affect the Fed’s plans to raise rates by the end of the year,” it wrote. In Europe, political unrest has exacerbated investors’ economic fears. Workers are hitting across the continent, demanding double-digit wage increases as the cost of living rises.

“I expect a high number to trigger a stock market sell-off,” said Jeffrey Halley, market strategist at Oanda. The logic behind this is that investors are tightening their last expectation of less Monetary policy The Fed got it wrong and sold the stock, especially the tech-savvy Nasdaq. In turn, a lower value, which would indicate a slowdown in the US economy, means that the forecasts of fewer rate hikes are correct. This means that the recent recovery in the stock market may continue.

Uniper’s share is variable (+ 3.0%). According to an article in Handelsblatt, the federal government is also gambling by purchasing well over 30 percent of an ailing gas distributor, according to financial circles. The reason for this is the importance of an investment rating to the energy company’s business, several familiar people said Handelsblatt. TAG Immobilien’s share decreased by 7.6 percent due to a capital increase of EUR 200 million.

BMW (+ 2.3%) sold fewer cars in the second quarter due to persistent bottlenecks in the field of semiconductors. In the group, sales for the base brand and Mini fell 19.8 percent to 563,536 vehicles, as announced. Sales of the core brand dropped 19.6 percent to 496,745 units. Meanwhile, BMW again increased sales of fully electrified vehicles in the quarter by 85.2 percent to 40,602 units. Together with hybrid cars, sales of electrified cars in three months amounted to 94,884 units, an increase of 14.3%.

“The AR session at VW always has the potential for surprises,” said one market participant. What and when can only be speculated in advance. The latest developments in Cariad’s software division will likely be discussed behind closed doors. Time will tell if the first business development statements will appear in the second quarter. VW increased by 4.2 percent.

Analysts are approaching Adidas more and more cautiously

Analysts have been more cautious about Adidas’ second quarter (-0.6%) in a few days. Now Deutsche Bank has also lowered its target price by more than 20 percent to 240 euros each 305 euros and the vote is still “buy”. Analysts expect weaker growth in sales and margins in the second quarter, and now they look a little more cautiously at the second half of the year and 2023. They also assume that the forecasts for the entire year will be lowered, but this is what investors already expect.

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

Euro Stoxx 50 3 506.56 + 0.5% 18.06 -18.4%

Stoxx 50 3 502.53 + 0.1% 1.97 -8.3%

DAX 13.006.30 + 1.3% 163.08 -18.1%

MDAX 26 201.95 + 1.3% 340.70 -25.4%

TecDAX 2,993.55 + 0.8% 24.32 -23.6%

SDAX 12 351.47 + 1.2% 143.19 -24.8%

FTSE 7 186.25 -0.0% -2.83 -2.6%

CAC 6039.68 + 0.5% 32.98 -15.6%

Fixed Income Market Latest Absolute +/- YTD

10-year return from Germany 1.26 +0.00 +1.44

10-year profitability in the USA 2.99 -0.01 +1.48

FOREX last +/-% Fri 8:18 Thu 17:06% YTD

EUR / USD 1.0148 -0.2% 1.0162 1.0173 -10.8%

EUR / JPY 137.87 -0.3% 137.81 138.28 + 5.3%

EUR / CHF 0.9905 + 0.1% 0.9894 0.9897 -4.5%

EUR / GBP 0.8463 + 0.1% 0.8466 0.8477 + 0.7%

USD / JPY 135.89 -0.1% 135.64 135.93 + 18.1%

GBP / USD 1.1990 -0.3% 1.2005 1.2000 -11.4%

USD / CNH (offshore) 6.7016 + 0.1% 6.7064 6.7019 + 5.5%

Bitcoin

BTC / USD 21 628.25 -0.1% 21 839.83 20 973.54 -53.2%

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

WTI / Nymex 102.92 102.73 + 0.2% 0.19 + 42.6%

Brent / ICE 105.20 104.65 + 0.5% 0.55 + 40.4%

GAS VT close +/- EUR

Dutch TTF 172.00 184.50 -6.1% -11.18 + 41.6%

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

Gold (spot) 1,742.32 1 740.06 + 0.1% +2.26 -4.8%

Silver (Spot) 19.20 19.22 -0.1% -0.02 -17.6%

Platinum (Spot) 876.13 876.73 -0.1% -0.60 -9.7%

The future of copper 3.50 3.58 -2.2% -0.08 -21.2%

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 8, 2022 6:51 AM ET (10:51 GMT)

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