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Macro data from China spoils the mood on stock exchanges
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Fashion companies under pressure from low retail sales in China
Tuesday's trading session brings clear declines on exchanges from the Old Continent. Market sentiment is deteriorating, driven during today's session by weak macro data readings from China. The macro calendar for today's session focuses on retail sales readings from the US and the CPI inflation report from Canada.
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Open real account TRY DEMO Download mobile app Download mobile appThe mood in Europe during Tuesday's trading session is noticeably weaker. Source: xStation 5
Futures based on the German DE30 are losing more than 1.1% today and slipping below the lower limit of the narrow trading range zone marked by the 100-day exponential moving average (purple curve). Source: xStation 5
News:
Bernstein downgraded its recommendation on shares of Henkel AG (HEN3.DE) to Underperform from its previous Market Perform rating. The company's shares are currently losing nearly 0.84%.
Source: xStation 5
On the other hand, Bernstein upgraded shares of Beiersdorf (BEI.DE) to an outperform rating from an earlier market perform rating. However, the stock is losing on a broad market sell-off.
A Russian court has decided to freeze assets owned by Credit Suisse and UBS (UBSG.CH) in Russia, TASS reported. However, it is worth noting that the share of these assets is relatively small relative to all UBS assets.
Weak macro data on retail sales hit the shares of fashion company representatives. Shares of LVMH (MC.FR), Kering (KER.FR) and Hermes (RMS.FR) are currently losing nearly 1.6%.
Source: xStation 5
Mark&Spencer (MKS.UK; +6.64%) and Pandora (PNDORA.DK; +0.59%) are gaining after announcing quarterly results and raising earnings forecasts for the full year.
The largest percentage changes in individual companies of the DAX index. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
