Wednesday's session on stock markets from the Old Continent brings mixed sentiment among investors. The reading of the day is the Fed Minutes, which will indicate the distribution of the positions of US central bankers. No less important will be the US PPI inflation reading, which is a foretaste of tomorrow's CPI report.
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Open account Try demo Download mobile app Download mobile appThe swaps market is currently pricing in a near 84% chance of a 75bp rate hike at the October ECB meeting. Source: Bloomberg
DE30 index chart, D1 interval. The benchmark of German blue chips is trading down today and descending towards yesterday's lows. Source: xStation 5
Wednesday's session on the German market brings lower valuations for most sectors of the economy. Source: Bloomberg
News:
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A warning about Philips' weak earnings spoils sentiment around Siemens Healthineers (SHL.DE), which is one of the company's main competitors. Philips (PHIA.NL) shares are losing about six percent. This is how investors are reacting to a warning that the company's core earnings will fall 60 percent in the third quarter. In addition, the company is struggling with supply chain problems and expects them to continue in the fourth quarter.
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Klöckner & Co (KCO.DE) is also seeing massive declines. Falling metal prices augur weaker financial results, the company warned yesterday after the session closed. The shares are currently losing more than 7%.
Bank recommendations:
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RBC lowered its target price for Adidas (ADS.DE) shares from €160 to €155.
Changes in institutions' holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
The largest percentage changes in the companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
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