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Dax on a new ATH!
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Investors react to possible spike in volatility due to the "day of the three witches"
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RBC analysts comment that further appreciation of Airbus (AIR.DE) shares may be limited
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Deutsche Bank (DBK.DE) extends declines following forecast of worse FICC result
This week's final trading session on European markets brings a continuation of the pro-upside sentiment among investors. The German DAX index and contracts based on this very benchmark are climbing to new all-time highs. The calendar for today's session is relatively empty, and the only reading worth noting will be Michigan sentiment. However, it is worth bearing in mind that today is the day of the three witches (expiration of futures contracts), which may induce elevated volatility in the evening.
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Open account Try demo Download mobile app Download mobile appThe mood in Europe during this week's final trading session is positive. The metals sector is seeing the largest declines at the moment. Source: xStation 5
German DE30 futures are trading close to 1.1% higher today, which takes into account the rollover of the index contract. The benchmark of German companies is climbing to new all-time highs. Source: xStation 5
News:
Analysts at RBC comment that further appreciation in Airbus (AIR.DE) shares is limited by supply chain issues, prompting the institution to downgrade the company's shares to a 'market perform' rating with a target price of €140.
However, the institution sees positive factors around the company. In particular, RBC views the following as positive: capital allocation, incoming aircraft orders and the prospect of increased delivery volumes.
Airbus (AIR.DE) shares, however, are not reacting to the RBC announcement and are gaining nearly 0.9% during today's session. Source: xStation 5
Rheinmetall (RHM.DE) shares extend the ongoing wave of appreciation, adding nearly 4.65% today. The company announced yesterday that it expects to finalise a contract with the German federal government for the supply of munitions worth billions of euros in the coming weeks.
The company expects 2023 to be its "best year in terms of order intake". At this point in time, orders for the full year are forecast to reach "double-digit values (in billions of euros)," the company executive added.
Rheinmetall (RHM.DE) shares started today's session with a sizable upward gap. Source: xStation 5
Following yesterday's announcement of a forecast decline in earnings from the FICC (debt trading) division, the sell-off wave is being prolonged by the shares of Deutsche Bank (DBK.DE), which are losing more than 3% today.
Changes in the institution's 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
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