Stock markets in Europe are gaining on Friday as investors reacted positively to Trump’s comments suggesting restraint regarding potential US involvement in the conflict between Israel and Iran. In the cash market, the German DAX is currently up 1.2%, the French CAC40 is up 0.7% and the British FTSE100 is adding 0.47%.
Current volatility in the broader European market. Source: xStation
The German DE40 index is gaining during today’s session, although the instrument is still in the support zone of the 50-day exponential moving average (blue line on the chart). As long as the D40 stays above this zone, the overall uptrend remains stable (as indicated by the exponential moving averages). The 14-day RSI indicator is returning to the 45-point area. Source: xStation
Market news
RWE AG (RWE.DE) is considering spinning off a 25% stake in German chain operator Amprion into a subsidiary or legal holding structure, Handelsblatt reports, citing people familiar with the matter. The move could have legal or tax benefits, according to the report. The company’s shares are up nearly 0.43% today.
Analysts at Morgan Stanley and RBC have lowered their price targets for LVMH (MC.FR) ahead of the fashion giant’s quarterly results for the first half of the year, with the latter saying it’s likely to be a “tough print.” MS’s price target falls to €510 from €560 previously, while RBC’s price falls to €550 from €680.
Jefferies is rather gloomy about Sodexo’s (SW.FR) prospects. The investment firm lowered its target price for the French company’s shares to €49 from €62 earlier amid ongoing structural issues that have not been resolved.
The European Commission approves UniCredit SpA’s (UCG.IT) bid for Banco BPM SpA (BAMI.IT), but with conditions, including the sale of 209 branches in Italy to address competition concerns.
More news from individual DAX companies. Source: Bloomberg Financial LP
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