- European indices gain
- Continental up more than 7%
- Stifel launched HelloFresh analytical coverage
General market situation:
Wednesday's session on European stock markets brings gains for most stock indexes. Germany's DAX is currently gaining 0.31%. Britain's FTSE 100 is adding more than 0.26% at the same time. France's CAC40, meanwhile, is up 0.28%. Investors' attention today turns to the FOMC Minutes and the numerous speeches by Fed bankers.
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Volatility currently observed in the broad European market. Source: xStation
The German benchmark DE40 is trading nearly 0.1% higher during Wednesday's session. It seems that the key support points of the broad uptrend remain the zones of recent peaks (19,000 points) and the 50-day EMA (blue curve on the chart). The most important resistance, on the other hand, remains the historical peak near 19,650 points. Source: xStation
News:
Mondi (MNDI.UK) shares are gaining nearly 4% in today's session, the most in more than three months, after the paper and packaging company agreed to buy various assets in Western Europe from Schumacher Packaging worth about €634 million. The deal will improve the company's scale and competitive advantage, investment bankers comment. It is expected to increase Mondi's production capacity for corrugated solutions by about 50% to 2.9 billion square meters from 1.9 billion square meters. The deal is expected to generate EPS growth in its first full fiscal year after completion (expected in the first half of 2025).
Continental (CON.DE) shares are gaining as much as 7.2% after the German tire maker communicated that it expects margins in the automotive sector to improve, despite lower sales.
Source: xStation
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
