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DAX tries to maintain upward momentum
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Investor attention focuses on CPI inflation reading from the US
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Mercedes and Volvo results support automotive sentiment
Wednesday's session on European markets brings an attempt to maintain the upward trend, which is currently challenged by the CPI inflation reading from the US scheduled for today. Investors' attention is focused primarily on the pending macro readings, which by their significance are likely to increase volatility during today's session. In addition to the CPI data, we will also learn about the BoC's interest rate decision, the Fed's Minutes from the Committee's last meeting and speeches by numerous central bankers from the Fed, ECB and BoE.
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JP Morgan maintained its "buy" recommendation on the shares of SAP SE (SAP.DE). The target price was raised to €137, compared to a previous rating of €117. The shares are currently gaining nearly 0.4%.
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Merck (MRK.DE) intends to invest nearly €300 million in one of the world's largest integrated gas plants in Homestown, USA. The investment is expected to expand production capacity for the semiconductor industry, the company added. However, the company's shares are not doing well and are currently losing nearly 6%. JP Morgan rated Merck's shares a "buy"; the target price was maintained at €250.
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Mercedes-Benz (MBG.DE) reported an increase in car sales in the first quarter of 2023, primarily driven by sales in the EV and premium vehicle segments. Overall, sales were up 3%, with the European market alone up 8%. EV sales doubled to 51,600 cars. Sales of AMG, Maybach and G-Class cars rose 18% to 92,800 vehicles. Volvo (VOLVB.SE) also reported revenue growth, with its shares gaining nearly 8.5% today. The Swedish company's preliminary results exceeded analysts' expectations.
Source: Bloomberg
Changes in institutional holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
The largest percentage changes and information from individual companies in the DAX index. Source: Bloomberg
DE30 chart
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