DE30 at the beginning of today’s trade with no clear direction | News

  • Indices in Europe are falling
  • The DE30 fights for nearly 13,000 points
  • Deliveries of Mercedes-Benz (MBG.DE) cars continue to face logistical problems

The first trading session of the week started with declines of most of the Old Continent’s indices. The French FRA40 loses 0.68%, the Polish W20 1.2% and the German DE30 0.74%. Although the calendar for today is empty, investors are looking forward to the second half of the week which will bring profit updates from major US banks (JPMorgan (JPM.US; Thursday), Morgan Stanley (MS.US; Thursday) and Citigroup (C.US; Friday)), decisions on BoC interest rates (Wednesday; 16:00) and RBNZ (Wednesday; 04:00) and publication of important macro data.

DE30 stays close to the 50 EMA zone (blue line) and fights to break out of the aforementioned 1: 1 structure. A zone of 12,755 points can now serve as local support, while a psychological level of 13,000 points can serve as resistance. Source: xStation 5

Company News:

Car deliveries from Mercedes-Benz (MBG.DE) fell 16% in Q2 due to chip shortages and logistics bottlenecks. In the second quarter of this year, the company sold 490,000 cars, 16% less than in the same period last year. However, the company noted that customer demand remained high. The company’s shares are currently listed by nearly 1% less.

Airbus (AIR.DE) expects passenger growth to slow down by 2040 due to energy costs. Passenger demand is expected to increase by 3.6% by 2041, compared to 3.9% in last year’s forecast. It is also expected that the further development of demand will be strongly influenced by the consumption of SAF, ie sustainable aviation fuels, which together with increasing pressure on their use may lead to higher aviation charges.

Nordex SE (NDX1.DE) plans to raise EUR 212 million through the sale of shares to strengthen its operations in the unstable environment of the wind industry.

Analyst Ratings:

  • Morgan Stanley recommended Fr. Delivery hero (DHER.DE) lowered from “buy” to “neutral”. The target price remains unchanged at EUR 57 per share.
  • Jeffries rated the stocks Allianz SE (ALV.DE) left with the purchase ”. The target price has been lowered from 255 to 240 euros.
  • Bernstein lowered his recommendation to Fr. Siemens (SIE.DE) from mkt perform “to weaker results”. The target price has been lowered from EUR 117 to EUR 68.

Firms in DE30 and their largest percentage vary from day to day. Source: Bloomberg

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