FRANKFURT (Dow Jones) – European stock markets are trading easier on Thursday afternoon. While the indices on Wall Street opened slightly in positive territory, the DAX fell to a daily low of 15,246 points. The index is currently losing 0.4 percent to 15,297 points, after a daily high of 15,449 points. The Euro-Stoxx-50 trades 0.5 percent lower at 4,060 points.
“We have seen for a long time that rallies are quickly used for sales,” said one market participant. If this trend continues, the market should have seen the highs for this year for now. The reporting season for the third quarter should show how much companies have suffered from the current shortage economy. In addition, the higher input prices as well as the rising costs for electricity are likely to have an impact on the margins in some sectors.
In addition, the official purchasing managers’ index in China disappointed for September when it fell below the expansion threshold of 50 points. It also showed a decline in export orders. However, the service purchasing managers index has risen above 50 again. In addition, Thursday is all about inflation data from Europe. French inflation continued to rise in September. Annual inflation, as measured by the Harmonized Index of Consumer Prices (HICP), rose to 2.7 from 2.4 percent in August. Economists polled by Dow Jones Newswires had expected an annual rate of 2.8 percent.
The German inflation rate is climbing steadily. In September this was 4.1 percent compared to the previous year, mainly driven by energy prices, but also by rising food prices. Since these are everyday goods, consumers clearly noticed it in their wallets. According to Ulrike Kastens, DWS economist for Europe, there is no sign of the all-clear in the short term. Rising oil, gas and electricity prices will push the inflation rate up further, even the five percent mark could be in the room. The European Central Bank (ECB) regards this development as temporary. At the next meeting in December it will be decided whether she will stick to this assessment.
Looking for direction continues
“The future direction of the DAX remains open. We are currently seeing a nervous back and forth. This is a bitter fight between bulls and bears. And it is still completely open who will prevail here in the end, “said QC Partners. Diageo’s interim report (+ 1.8%) is well received by retailers. In the run-up to the upcoming annual general meeting, the beverage manufacturer announced that the new fiscal year had got off to a strong start, with positive sales momentum in all regions, but especially in North America. In Europe, the recovery is also going a little better than expected.
The satellite sector is moving into focus with consolidation fantasies. The trigger is an unsolicited takeover offer from Altice founder Patrick Drahi to Eutelsat Communications. Their shares are booming by 15 percent, although Eutelsat rejects the offer. “The hope of a consolidation in the sector has been revived anyway,” says a trader. Competitor SES also rise in Paris by 4.2 percent.
Boohoo is down 13.6 percent on the London Stock Exchange. As Jefferies notes, second-quarter revenue growth was up 9 percent, well below the consensus estimate of 28 percent. However, August developed positively. For this reason, the analysts are only slightly lowering the estimates for 2022 and 2023. For Zalando, it’s 1.3 percent down.
Hornbach presented good figures
Half-year figures and outlook from Hornbach Holding (+ 10.5%) are received positively in the retail sector. “The record course is likely to continue, the outlook could be too conservative,” says a trader. The demand for building products and home investments are evident even in daily life in view of rising inflation. Hornbach was able to report a 5.1 percent increase in sales in the first half of the year and a new record EBIT, but the previous outlook was only confirmed.
The Sulzer spin-off Medmix got off to a bad start on the stock market. The first price was 45 francs, which corresponds to an implied market capitalization of 1.857 billion francs. In early trading, the value fell to 41.60 francs and is currently quoted at 43.71 francs. The manufacturer of precision devices is the result of a spin-off from the industrial group Sulzer, which took the form of a spin-off in which the previous Sulzer shareholders received one Medmix share in addition to each Sulzer share. The Sulzer share fell by CHF 48.15 to CHF 88.95.
===
Last stock index +/-% absolute +/-% YTD
Euro-Stoxx-50 4,060.47 -0.5% -19.75 + 14.3%
Stoxx-50 3,503.29 -0.0% -0.76 + 12.7%
DAX 15,297.40 -0.4% -67.87 + 11.5%
MDAX 34,443.44 -0.2% -77.09 + 11.8%
TecDAX 3,744.22 + 0.4% 15.82 + 16.5%
SDAX 16,518.42 + 0.1% 21.57 + 11.9%
FTSE 7,092.35 -0.2% -15.81 + 10.0%
CAC 6,520.94 -0.6% -39.86 +17 , 5%
Bond market last absolute +/- YTD
Ger. Ten-year return -0.19 +0.02 +0.39
US ten-year return 1.54 +0.02 +0.62
FOREX last +/- % Thu, 8:07 a.m. Wed, 5:04 p.m.% YTD
EUR / USD 1.1584 -0.1% 1.1604 1.1614 -5.2%
EUR / JPY 129.51 -0.3% 129.76 129.96 + 2.7%
EUR / CHF 1.0836 -0.0% 1.0830 1.0843 + 0.2%
EUR / GBP 0.8594 -0.5% 0.8631 0.8650 -3.8%
USD / JPY 111.79 -0.2% 111.92 111.89 + 8.2%
GBP / USD 1.3480 + 0.4% 1.3438 1.3427 -1.4 %
USD / CNH (Offshore) 6.4569 -0.3% 6.4727 6.4731 -0.7%
Bitcoin
BTC / USD 43,080.51 + 4.4% 43,561.01 42,234.51 + 48.3%
CRUDE OIL last VT-Settl. +/-% +/- USD% YTD
WTI / Nymex 73.63 74.83 -1.6% -1.20 + 53.9%
Brent / ICE 77.75 78.64 -1.1% -0.89 + 52.8%
METALS last day before +/-% +/- USD% YTD
Gold (spot) 1,742.54 1,726.40 + 0.9% +16.14 -8.2%
Silver (spot) 21.89 21.13 +3 .6% +0.76 -17.1%
platinum (spot) 966.15 953.85 + 1.3% +12.30 -9.7%
Copper Future 4.08 4.20 -2.9% -0.12 + 15.7%
===
Contact to Author: maerkte.de@dowjones.com
DJN / thl / ros
(END) Dow Jones Newswires
September 30, 2021 10:13 ET (14:13 GMT)
Note: This article have been indexed to our site. We do not claim ownership or copyright of any of the content above. To see the article at original source Click Here
Apple MagSafe Charger (1m) - Wireless Charger with Fast Charging Capability, Compatible with iPhone and AirPods
$24.00 (as of November 7, 2024 18:48 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
BISSELL Steam Shot OmniReach Handheld Steam Cleaner
$49.99 (as of November 7, 2024 18:48 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
2024 Taylor Christmas Advent Calendar Bracelets, 24 Days Christmas Advent Calendar Countdown Calendar for Music Lovers,Fans,Teens and Friends-TS DIY Bracelets Kit Vacation Gifts Idea Bracelets
$13.99 (as of November 7, 2024 18:48 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Gionlion 6000 Clay Beads Bracelet Making Kit, 24 Colors Flat Preppy Beads for Friendship Bracelets, Polymer Clay Beads with Charms for Jewelry Making, Crafts Gifts for Girls Ages 6-12
$8.99 (as of November 7, 2024 18:44 GMT +00:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
