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Markets in Europe maintain slightly better sentiment
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Attention focused on US bank results and retail sales report
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Banks surprise positively
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Novartis gains after earnings release and announcement of Sandoz unit spin-off/share buyback
European exchanges maintain slightly better sentiment following the publication of companies' Q2 2023 results. The worst sentiment during today's session is reported by companies in the telecommunications sector. Investors' attention today is focused on the US retail sales report, which will be the last important indication before the upcoming Fed decision.
Swiss healthcare company Novartis raised its full-year profit forecast as it reported significantly higher operating income. The company also announced that its board of directors has approved the spin-off of the Sandoz entity focused on generics, and a $15 billion share buyback to be completed by the end of 2025.
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The mood in Europe during Tuesday's trading session is relatively positive. At the moment, the worst performing stocks are those of telecommunications companies. Source: xStation
German DE30 futures are losing nearly 0.32% during today's session and are descending to support levels around 16,000 points. Source: xStation 5
News:
Deutsche Bank upgraded its rating on shares of Vonovia (VNA.DE) to "buy" with a target price of €25. The company's shares are currently gaining more than 2.5%.
Source: xStation 5
Deutsche Bank raised its recommendation on shares of TAG Immobilen (TEG.DE) to a 'hold' rating and a target price of €9 per share. The company's shares negate previous declines and are currently gaining more than 2%.
Source: xStation 5
Citi maintains a selective approach in the European software and IT services sector and points to positive catalysts emerging around Capgemini (CAP.FR), which may record results expected at the upper end of its stated forecasts.
Source: xStation 5
Major 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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