- Markets see moderate improvement in sentiment
- Inflation in Germany surprises slightly lower
Overall market situation:
Stock market sentiment during Thursday's session in Europe is relatively mixed, nevertheless a slight improvement in sentiment can be seen against the recent dynamic sell-offs. The beginning of the session brought a continuation of declines, but relatively quickly this state of the market was partially negated. Investors' attention today is focused primarily on inflation readings in Germany and macro data from the US. Slightly improved market sentiment may also result from comments by President Xi, who said that China should meet annual economic forecasts and announced greater creation of the labor market. The mention of Taiwan was also an important comment. President Xi announced renewed efforts for peaceful relations with Taiwan.
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Open account Try demo Download mobile app Download mobile appInflation in Germany
CPI inflation reading for September: 4.5% y/y (expected: 4.6% y/y; previous: 6.1% y/y)
Monthly CPI inflation: 0.3% m/m (expected: 0.3% m/m; previous: 0.3% m/m)
We have a stronger decline in inflation on an annualized basis, but it is important to remember the rise in oil prices, which is already above last year's levels, which could provide a basis for a rebound in inflation (at least monthly) at the end of this year.
We have a stronger decline in inflation on an annualized basis, but it is important to remember the rise in oil prices, which is already above last year's levels, which could provide a basis for a rebound in inflation (at least monthly) at the end of this year.
At the moment, companies listed in Europe are trading at mixed levels. Metals and mining companies are doing relatively well today. Source: xStation 5
Futures contracts based on the German DE30 are losing nearly 0.17% intraday. It is worth mentioning, however, that the scale of the sell-off was much larger at some point in today's session, nevertheless, the move was largely erased in the end. Source: xStation 5
News
Moody's has reaffirmed the long-term rating for MTU Aero (MTX.DE) at Baa3 rating levels, future outlook at "stable." The company's shares are gaining nearly 2.3% during today's session.
Source: xStation 5
Berenberg raised its rating on shares of Talanx (TLX.DE) to "buy" in view of what Berenberg analysts themselves described as an "excellent business model." The target price for the company's shares was raised to 69 euros (previously it was 58 euros).
The company's analyst says that the basic insurance unit has successfully completed its restructuring phase, and that it should be valued at a similar multiplier level as its counterparts Allianz (ALV.DE), AXA (CS.FR), Generali (G.IT) and Zurich (ZURN.CH).
The company's shares are currently gaining nearly 3%. Source: xStation 5
HSBC (HSBA.UK) shares are gaining 0.36% after media sources reported that the bank is set to acquire Citigroup's (C.US) Chinese consumer wealth management subsidiary, which has an AuM of nearly $3 billion.
The largest percentage changes in individual companies in the DAX index. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
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