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Markets in Europe in slightly worse mood
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Technology companies under pressure with sell-offs on Tesla, Netflix and TSMC shares
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K+S (SDF.DE) raised by SocGen
Thursday's market session brings slightly worse investor sentiment. This is directly related to the reaction to Tesla's and Netlfix's quarterly results, which somewhat disappointed investors. Netflix is currently losing close to 6.5% before the open. Although today the PBoC decided to maintain 1-year rates, such a lowering of the cross-border expense ratio, may allow more capital inflows into China. Moreover, the benchmark rate of the USD/CNY pair was set by the Bank clearly below previous forecasts, thus strengthening the yuan. There were also reports in the media of a possible stimulation of the economy by easing access to mortgages in China.
In the face of this news, companies in the industrial sector performed relatively well today. The market-wide sell-off in the semiconductor sector is due to TSMC's (TSM.US) reduced earnings forecasts.
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Source: Bloomberg
The mood in Europe during Thursday's trading session is relatively mixed. Shares of semiconductor companies are performing worst at the moment. Source: xStation 5
German DE30 futures are gaining nearly 0.22% during today's session and remain above support levels near 16,000 points. Source: xStation 5
News:
HelloFresh (HFG.DE) shares are losing more than 6.7% during today's session following the publication of weak preliminary results for the second quarter. Furthermore, the company has lowered its earnings forecasts for the year. Analysts were primarily concerned by a decline in the company's customer base and EBITDA itself, which appeared to be driven by lower marketing expenditures.
Details of the company's preliminary results. Source: Bloomberg
The shares of Daimler Truck (DTG.DE) outperformed expectations, paving the way for meeting the upper end of earnings expectations for the year. The company's EBIT beat analysts' expectations by 11%.
Source: Bloomberg
Source: xStation 5
The shares of K+S (SDF.DE) were upgraded to a 'buy' rating by SocGen, with a target price of €23.
The largest percentage changes in individual companies of the DAX index. Source: Bloomberg
Information from individual companies in the DAX index. Source: Bloomberg
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