FRANKFURT (Dow Jones) – Europe’s stock markets barely moved on Tuesday. The DAX closed unchanged at 15,901, the Euro-Stoxx-50 lost 0.2 percent to 4,332 points. However, there was talk of a continued positive tone in trade. The minutes of the US Federal Reserve Bank of the most recent meeting in the evening could point the way for the further trend. The markets are increasingly pricing in the first interest rate cuts for 2024. After US trading closes, Nvidia will present figures. If they turn out well, it could not only support technology stocks on Wednesday. Nvidia is considered a barometer for the AI boom. When it comes to individual stocks, Morphosys’ share price fell by 21.3 percent – contrary to initial positive assessments following the results of a phase 3 study with pelabresib.
“There are other factors in the study that completely counteract the positive initial impression,” said a dealer. Here the market admits that it does not have the in-depth pharmaceutical knowledge necessary for evaluation. Citi said that the primary endpoint for pelabresib was already expected to be achieved. However, expectations were missed for two secondary endpoints, including the statistical significance of the results. The question therefore arises as to whether the US FDA will approve an application for approval.
Rheinmetall Capital Markets Day is well received
Statements from the Rheinmetall Capital Markets Day were very well received by the market. The shares rewarded this with a 3.7 percent premium, making them the biggest DAX winner. The group wants to increase sales to 13 to 14 billion euros by 2026 and also achieve an operating margin of more than 15 percent. The daily losers in the DAX were Siemens Energy with a loss of 7.9 percent. There was talk of profit-taking in trading.
The shares of European delivery services were under pressure due to antitrust investigations by the EU Commission. Delivery Hero lost 4.7 percent, Just Eat Takeaway 3.2 and Hellofresh 8.1 percent. Today’s inspections are taking place as part of an investigation that was already carried out in 2022, according to the EU Commission. Companies in two member states are affected. The authority did not provide the names or countries.
With the purchase of Martin Marietta for $2.1 billion, CRH is strengthening its competitive position in the USA. According to AJ Bell, the purchase makes sense as the construction company will strengthen its position in Texas, one of the most important growth markets in the USA. CRH recently moved the stock’s primary listing from London to the US. This is understandable, since the company generates the majority of its profits in the USA. It is said that a US listing should increase visibility for shareholders and potential customers. CRH gained 2.7 percent in London.
Placement puts a strain on Teamviewer
A placement pushed Teamviewer shares down 12.4 percent to 13.10 euros. Traders explained the relatively small discounts given the placement of around 7 percent of the share capital by major shareholder Permira as a result of accommodation with institutional investors. “The pieces are not coming to the stock market,” said one trader. Permira placed the 13 million shares with investors through its Tigerluxone fund at 13.90 euros. Permira remains the largest Teamviewer shareholder through the fund and will then hold around 14 percent of the company.
GEA papers lost 5.4 percent to 33 euros. Groupe Bruxelles Lambert has divested itself of almost all of its stake in the plant manufacturer. As the investor announced, its subsidiary Oliver Capital placed 11.25 million shares at a price of 32.63 euros each, which corresponds to 6.2 percent of Gea shares. The proceeds amounted to almost 0.4 billion euros. Evonik fell 4.8 percent. The reason is the announcement of convertible bonds by major shareholder RAG Stiftung. They can be exchanged for Evonik shares. Evonik wants to use the issue to buy back outstanding bonds.
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Index final development development development
. stood absolute in % since
. Beginning of the year*
Euro Stoxx 50 4,331.90 -10.51 -0.2% +14.2%
Stoxx-50 3,948.30 +4.53 +0.1% +8.1%
Stoxx-600 455.85 -0.41 -0.1% +7.3%
XETRA DAX 15,900.53 -0.80 -0.0% +14.2%
FTSE-100 London 7,481.99 -14.37 -0.2% +0.6%
CAC-40 Paris 7,229.45 -17.48 -0.2% +11.7%
AEX Amsterdam 758.56 -0.91 -0.1% +10.1%
ATHEX-20 Athens 3,034.91 -10.45 -0.3% +34.8%
BEL-20 Brussels 3,515.63 -19.14 -0.5% -5.0%
BUX Budapest 56,450.22 -444.81 -0.8% +28.9%
OMXH-25 Helsinki 4,344.55 -24.66 -0.6% -9.5%
ISE NAT. 30 Istanbul 8,550.44 +150.34 +1.8% +43.8%
OMXC-20 Copenhagen 2,221.82 -14.54 -0.7% +21.1%
PSI 20 Lisbon 6,324.80 -40.41 -0.6% +9.8%
IBEX-35 Madrid 9,827.50 -11.50 -0.1% +19.4%
FTSE-MIB Milan 29,153.42 -388.48 -1.3% +24.6%
OBX Oslo 1,189.36 -16.58 -1.4% +9.1%
PX Prague 1,388.53 +1.77 +0.1% +15.5%
OMXS-30 Stockholm 2,197.08 -9.26 -0.4% +7.5%
TIG-20 Warsaw 2,240.99 -9.56 -0.4% +25.1%
ATX Vienna 3,252.76 -24.20 -0.7% +4.9%
SMI Zurich 10,782.23 +41.96 +0.4% +0.5%
*based on the closing price from the previous day
FOREX last +/- % Tue, 8:24 am Mon, 17:17 % YTD
EUR/USD 1.0923 -0.2% 1.0960 1.0943 +2.0%
EUR/JPY 161.54 -0.5% 161.61 162.33 +15.1%
EUR/CHF 0.9648 -0.3% 0.9681 0.9676 -2.5%
EUR/GBP 0.8712 -0.4% 0.8747 0.8756 -1.6%
USD/JPY 147.91 -0.3% 147.46 148.35 +12.8%
GBP/USD 1.2536 +0.3% 1.2530 1.2498 +3.6%
USD/CNH (Offshore) 7.1392 -0.4% 7.1383 7.1639 +3.1%
Bitcoin
BTC/USD 37,194.68 -0.7% 37,299.22 37,400.77 +124.1%
CRUDE OIL most recently VT-Settlem. +/-% +/- USD% YTD
WTI/Nymex 77.28 77.83 -0.7% -0.55 +0.6%
Brent/ICE 81.91 82.32 -0.5% -0.41 +0.4%
GAS VT Settlem. +/- EUR
Dutch TTF 43.65 45.75 -4.6% -2.10 -49.2%
METALS last day previous +/- % +/- USD % YTD
Gold (spot) 2,000.75 1,978.04 +1.1% +22.71 +9.7%
Silver (spot) 23.85 23.43 +1.8% +0.43 -0.5%
Platinum (spot) 942.31 924.00 +2.0% +18.31 -11.8%
Copper future 3.81 3.81 0% 0 +0.1%
YTD based on the previous day’s closing level
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(END) Dow Jones Newswires
November 21, 2023 12:07 ET (17:07 GMT)