FRANKFURT (Dow Jones)–Supported by favorable US conditions, European stocks started the new week with premiums on Monday. The US technology companies are currently setting the pace on the stock exchanges, the Nasdaq-100, Dow Jones and S&P 500 indices have climbed to new all-time highs. The DAX gained 0.8 percent to 16,683 points, the Euro-Stoxx-50 rose 0.7 percent to 4,480. The technology sector was the industry winner with a premium of 2.0 percent.
Bonds were also up, with the interest rate policy of the central banks in focus. In the USA the expectation is of a first Interest rate cut last fell in March. The Fed fund futures currently only indicate a probability of 49 percent that the Fed will cut interest rates for the first time in March; a week ago the value was 83 percent. The European Central Bank (ECB) meets on Thursday, where a first possible cut is expected in April, with a higher probability in June.
The reporting season is increasingly providing impetus: According to Deutsche Bank, 33 companies from the Stoxx-600 are presenting their figures this week, with technology stocks such as STMicroelectronics, ASML and SAP likely to be the focus here. In the USA, quarterly figures from 74 companies from the S&P 500 are expected.
Three board members are leaving Aurubis
Aurubis were under pressure to sell, and their shares fell 4 percent. The company is facing the departure of three board members. As the group announced, members of the supervisory board are “in advanced discussions with three board members about terminating their board activities.” Investigations are currently underway into the criminal activities directed against the company that have led to shortages of precious metals. Thieves caused Aurubis damage worth 169 million euros last year.
Meanwhile, the share price of real estate financier Hypoport rose by 6.9 percent. Despite the signals of crisis from the construction sector, there was growth in the fourth quarter and the market is expected to normalize in 2024. The transaction volume ended its downward trend in the final quarter for the first time since the real estate financing market collapsed.
For Infineon, the DAX rose by 1.4 percent with positive data from the technology sector, while Zalando gained 3.9 percent. United Internet went up 3.9 percent. They were described as a “top pick” by the analysts at Berenberg with a price target of 43 euros – which would be a potential of around 90 percent above the current price. After negative comments, Commerzbank lost 3.4 percent. A buy recommendation from Warburg, on the other hand, helped Deutz achieve price gains of 8.2 percent.
FDJ bids for Kindred
The shares of Kindred, listed in Stockholm, rose by 16.7 percent to 121.90 crowns. The driver here was a bid for 130 Swedish crowns from the French lottery operator Française des Jeux (FDJ), whose price rose by 6.2 percent. The offer corresponds to a premium of 24 percent on Friday’s closing price. FDJ is the exclusive provider of lotteries and offline sports betting in France, but also offers online sports betting and online gambling. With the acquisition of Kindred, the company aims to create a European gaming champion.
Sandoz reacted to the acquisition of the drug Cimerli for the treatment of visual impairment from Coherus with surcharges of 4 percent. Citigroup described the purchase price of $170 million as attractive. The analysts also classify the purchase as security for the launch of Sandoz’s Eylea biosimilar, planned for 2025.
For Evotec it went up by 7.8 percent. In a conference call, the biotech company stated that it had complied with all obligations to publish manager transactions. However, the prescribed processes were not followed by former CEO Werner Lanthaler. Lanthaler recently left his position completely unexpectedly, which triggered a sell-off in shares on the stock market.
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Index final development development development
. stood absolute in % since
. Beginning of the year*
Euro Stoxx 50 4,480.32 +31.49 +0.7% -0.9%
Stoxx-50 4,073.76 +22.10 +0.5% -0.5%
Stoxx-600 472.86 +3.62 +0.8% -1.3%
XETRA DAX 16,683.36 +128.23 +0.8% -0.4%
FTSE-100 London 7,487.71 +25.78 +0.3% -3.5%
CAC-40 Paris 7,413.25 +41.61 +0.6% -1.7%
AEX Amsterdam 785.60 +6.71 +0.9% -0.2%
ATHEX-20 Athens 3,298.03 +34.25 +1.0% +5.6%
BEL-20 Brussels 3,592.87 +36.16 +1.0% -3.1%
BUX Budapest 64,709.34 +128.47 +0.2% +6.8%
OMXH-25 Helsinki 4,424.45 +29.00 +0.7% -2.7%
ISE NAT. 30 Istanbul 8,642.98 +19.12 +0.2% +7.8%
OMXC-20 Copenhagen 2,338.62 -2.18 -0.1% +2.4%
PSI 20 Lisbon 6,313.51 +22.18 +0.4% -1.0%
IBEX-35 Madrid 9,968.10 +109.80 +1.1% -1.3%
FTSE-MIB Milan 30,182.32 -101.29 -0.3% -0.2%
OBX Oslo 1,167.00 -0.26 -0.0% -2.3%
PX Prague 1,441.59 -0.58 -0.0% +2.0%
OMXS-30 Stockholm 2,330.55 +32.59 +1.4% -2.8%
TIG-20 Warsaw 2,205.03 +4.12 +0.2% -5.9%
ATX Vienna 3,371.06 +26.68 +0.8% -2.3%
SMI Zurich 11,275.35 +124.83 +1.1% +1.2%
*based on the closing price from the previous day
Bond market last absolute +/- YTD
German ten-year return 2.29 -0.05 -0.28
US ten-year yield 4.10 -0.03 +0.22
FOREX last +/- % Mon 8:09 a.m. Fri 5:20 p.m. % YTD
EUR/USD 1.0892 -0.0% 1.0904 1.0883 -1.4%
EUR/JPY 161.22 -0.2% 161.48 161.24 +3.6%
EUR/CHF 0.9465 -0.0% 0.9472 0.9459 +2.0%
EUR/GBP 0.8560 -0.2% 0.8578 0.8588 -1.3%
USD/JPY 148.01 -0.2% 148.10 148.17 +5.1%
GBP/USD 1.2724 +0.2% 1.2711 1.2672 +0.0%
USD/CNH (Offshore) 7.1974 -0.1% 7.2056 7.2078 +1.0%
Bitcoin
BTC/USD 40,483.27 -2.7% 41,107.91 40,670.07 -7.0%
ROHOEL most recently VT-Settlem. +/-% +/- USD% YTD
WTI/Nymex 74.83 73.41 +1.9% +1.42 +3.9%
Brent/ICE 79.73 78.56 +1.5% +1.17 +3.4%
GAS VT Settlem. +/- EUR
Dutch TTF 27.7 28.44 -2.6% -0.73 -11.4%
METALS last day previous +/- % +/- USD % YTD
Gold (spot) 2,022.64 2,029.69 -0.3% -7.05 -1.9%
Silver (spot) 22.17 22.61 -1.9% -0.44 -6.7%
Platinum (spot) 898.73 899.51 -0.1% -0.79 -9.4%
Copper future 3.77 3.79 -0.5% -0.02 -3.2%
YTD based on the previous day’s closing level
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(END) Dow Jones Newswires
January 22, 2024 12:09 ET (17:09 GMT)