MRKTE EUROPE / DAX is recovering from losses and is slightly positive | News

Author: Herbert Rude

FRANKFURT (Dow Jones) – European stock exchanges are catching up in the morning and are able to hold their position well in the south. The DAX rose 0.1 percent to 12,968 points and the Euro-Stoxx-50 showed a slight change at 3,511 points. Market participants talk about look-ahead and low volume trading. On the one hand, the reporting season has been relatively good so far and the valuations have dropped significantly, on the other hand, the gas crisis is very nervous on the market, especially in Germany. Finally, market participants are still waiting for the European Central Bank, which is likely to raise interest rates on Thursday for the first time in eleven years. The euro continues to rise and now stands at EUR 1.0250, clearly deviating from the face value.

The mood is heightened by the fact that Apple is apparently preparing for a possible economic downturn and plans to slow down hiring in some areas in the coming year. The iPhone manufacturer wants to act more cautiously in uncertain times, reports the Bloomberg agency, citing well-informed people. However, the strong dollar is also a stumbling block for Apple. By noon, the European technology sector was down 0.6 percent.

On the other hand, healthcare stocks, which remained weak on Monday, are in demand, with their Stoxx industry index up 1.3%. Novartis tightens by half a percent. According to one participant, the quarterly data from Novartis is “in line”. Turnover is slightly below his expectations, while the income side made a positive surprise. The fact that the outlook for the subsidiary Sandoz has been slightly elevated is somewhat positive. Haleon lost 2.7 percent after a disappointing stock market drop since the beginning of the week.

In addition, banks’ exchange rates continue to rise, their Stoxx sector index is also rising 1.3%. Unicredit and Caixa increased by about 5 percent, Commerzbank by 4 percent.

EDF plus 15 percent – nationalization planned

In Paris, after the days of suspension, EDF posted an increase of 15 percent to EUR 11.74. The French state is planning a takeover for around 12 euros. The electricity supplier’s shares are then to be liquidated from the market. They closed at € 10.22 on July 12, after which they were suspended from trading.

Jefferies analysts confirm a good second quarter for the Swedish commercial vehicle manufacturer Volvo. The outlook is somewhat more cautious as it relates to the macroeconomic uncertainty and the necessary flexibility that should worsen. Nevertheless, the rate clearly turned out to be positive and is growing by 2.4%.

While the French railway technology group Alstom increased its turnover in the first quarter of this year, it was also hit by the economic hardship caused by the decline in orders. The price is down by a good 5 percent, especially as Alstom talks about a more complex macroeconomic environment and inflation is likely to weigh on yields.

Bilfinger was down 14 percent after Bank of America drastically downgraded its rating from “buy” to “underperforming”. The record of the industrial camera manufacturer Basler bends by almost two-thirds. But this is only because of the issue of bonus shares. Instead of one, Basler’s shareholders now have three shares on their securities accounts.

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

Euro Stoxx 50 3 511.17 -0.0% -0.69 -18.3%

Stoxx 50 3 530.60 + 0.4% 13.01 -7.5%

DAX 12 967.56 + 0.1% 7.75 -18.4%

MDAX 25 903.88 -0.1% -17.35 -26.3%

TecDAX 2 914.02 -0.4% -11.28 -25.7%

SDAX 12,177.56 -0.3% -41.50 -25.8%

FTSE 7 247.64 + 0.3% 24.40 -2.2%

CAC 6,088.05 -0.1% -3.86 -14.9%

Fixed Income Market Last Absolute +/- YTD

10-Year Return from Germany 1.24 +0.03 +1.42

10-year profitability in the USA 2.98 -0.00 +1.47

FOREX last +/-% Tue 8:31 Mon, 17:25% YTD

EUR / USD 1.0264 + 1.2% 1.0158 1.0169 -9.7%

EUR / JPY 141.07 + 0.7% 140.09 140.51 + 7.8%

EUR / CHF 0.9931 + 0.2% 0.9908 0.9930 -4.3%

EUR / GBP 0.8536 + 0.6% 0.8481 0.8476 + 1.6%

USD / JPY 137.45 -0.5% 138.01 138.18 + 19.4%

GBP / USD 1.2025 + 0.6% 1.1975 1.1996 -11.1%

USD / CNH (offshore) 6.7414 -0.3% 6.7526 6.7530 + 6.1%

Bitcoin

BTC / USD 22,077.46 + 2.0% 22,088.14 22 247.30 -52.3%

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

WTI / Nymex 100.57 102.60 -2.0% -2.03 + 39.4%

Brent / ICE 104.67 106.27 -1.5% -1.60 + 39.7%

GAS VT close +/- EUR

Dutch TTF 159.60 159.60 + 1.5% 2.34 + 41.5%

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

Gold (spot) 1,717.53 1,709.37 + 0.5% +8.16 -6.1%

Silver (Spot) 18.88 18.70 + 1.0% +0.18 -19.0%

Platinum (Spot) 882.89 866.43 + 1.9% +16.46 -9.0%

The future of copper 0.00 3.35 0% 0 -24.6%

YTD at the end of the day

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DJG / hru / cln

(END) Dow Jones Newswires

July 19, 2022 07:18 ET (11:18 GMT)

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