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European indices drop despite limited liquidity due to US holiday
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Rheinmetall (RHM.DE), Northrop Grumman (NOC.US) and Lockheed Martin (LMT.US), will build a factory to produce fuselages for the F-35 A Lightning II aircraft.
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HSBC raises recommendation on Wacker Chemie (WCH.DE) shares
European stock indices are not seeing excessive deviations today, which is mainly due to the ongoing holiday in the USA. Although, the very start of the session started on a relatively upbeat note following the RBA's dovish interest rate decision, such early rallies in equities were quickly erased and the indices are now losing on a daily basis.
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Open account Try demo Download mobile app Download mobile appThe mood in Europe during Tuesday's trading session is relatively mixed. For the moment, the worse sentiment is mainly being recorded in the automotive, defence and aerospace sectors, as well as the industrial and banking sectors. Source: xStation 5
German DE30 futures are not showing excessive deviation during today's session, however, the benchmark is losing close to 0.3% at the moment. Source: xStation 5
News:
Grupo Santander downgraded its recommendation on the shares of Siemens Energy (ENR.DE) to "neutral" from its previous "outperform" rating. The target price was set at €18 per share.
The company's shares are losing nearly 2% during today's session. Source: xStation 5
S&P Global upgraded SAP's (SAP.DE) long-term rating to A+ from A previously. The outlook for the future remains stable.
SAP (SAP.DE) share chart, W1 interval. Source: xStation 5
The Thornburg International Value Fund increased its stake in Rheinmetall (RHM.DE) by nearly 46% to 142,996 shares. Moreover, the entity also increased its stake in BNP Paribas (BNP.FR) (+41%). The Fund continues to hold the largest stakes in Roche (ROG.CH) (290,328 shares; USD 91.9 million), as well as TotalEnergies (TTE.FR) (worth USD 89.3 million). In the case of TotalEnergies, however, Thornburg decided to reduce its exposure slightly (-8%). A similar decision was made for E.ON shares (EOAN.DE), where the Fund's exposure was reduced by 14%.
Wacker Chemie (WCH.DE) shares are gaining after, HSBC raised its rating on the company's shares to 'buy' from the previous 'hold'. Analysts believe the company will benefit from new German plans to support solar energy production. Bankers predict that energy production from panels will increase by 44% year-on-year this year. Polycrystalline silicon produced by the company is a key material used in the production of solar panels. Target price at €155, previously €150
Wacker Chemie (WCH.DE) share chart. Source: xStation 5
Rheinmetall (RHM.DE), in cooperation with Northrop Grumman (NOC.US) and Lockheed Martin (LMT.US), plans to build a factory in Weeze, Germany, where fuselage parts for the F-35 A Lightning II aircraft are to be produced.
The largest percentage changes in individual companies of the DAX index. Source: Bloomberg
News from individual companies in the DAX index. Source: Bloomberg
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