-
PMI data show weakness in industry and strengthening sentiment in services
-
Mercedes-Benz (MBG.DE) surprises with good results from Mercedes Vans division
-
SAP (SAP.DE) raises earnings forecasts
Today's session on European markets brings an attempt to erase some of the losses recorded at the start of the session. The German DAX is currently down by almost 0.32% and is still in the zone of yesterday's lows. Investors' attention is invariably focused on the results presented by companies in Europe and the USA. As far as macro data is concerned, today attention turns primarily to PMI indices from Europe and the USA.
PMI data from Germany:
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile app-
Manufacturing: 44.0 (expected: 45.7; previous: 44.7)
-
Services: 55.7 (expected: 53.4; previous: 53.7)
The mood in Europe during Friday's trading session is clearly negative. Source: xStation 5
News:
-
Investor attention in Germany is primarily focused on the earnings report of SAP SE (SAP.DE), which performed relatively mixed. The market, however, seems to be focusing more on the earnings forecasts for future quarters, which are already looking much better. More detailed information can be found in our earlier post. The company's shares are currently trading close to 1.2% up.
-
Positive sentiment also persists on Mercedes-Benz (MBG.DE) shares, which are currently gaining more than 0.5%. Germany's leading automotive player managed to generate significantly better-than-expected preliminary results for Q1 2023. The company's EBIT beat analysts' expectations by almost 12%, which was mainly driven by very good momentum in the Mercedes van sector.
Mercedes-Benz preliminary results (MBG.DE). Source: Bloomberg
Changes in institutional holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
Major percentage changes and information from individual companies in the DAX index. Source: Bloomberg
DE30 chart
Futures based on the German DAX index (DE30) are trading down today and extending the sell-off initiated during yesterday's session. Source: xStation 5
