FRANKFURT (Dow Jones)–The European stock exchanges closed almost unchanged on Monday, despite the calm situation. The markets still needed some time to put together the interest rate hikes on both sides of the Atlantic and the US labor market data plus the company outlook for the reporting season into an overall picture, it said in the trade. In addition, renewed weak economic data from Germany provided little reason to buy. The important market participants from London were missing at the beginning of the week. There the stock exchanges were closed for a holiday celebrating the coronation of the new King Charles III. closed.
The DAX lost 0.1 percent to 15,953, for the Euro-Stoxx-50 it went up 0.2 percent to 4,349. The news situation from the USA is not necessarily positive either: although the sector index of the US regional banks has recently been able to recover significantly, the situation regarding the US debt ceiling is still unclear. US Secretary of the Treasury Janet Yellen warned of the possible consequences for the financial markets, if not raised by early June. The US government could run out of money to pay its bills.
Germany with danger of recession
“The March misery continues,” noted chief economist Thomas Gitzel from VP Bank. After retail sales, exports and incoming orders, industrial production in Germany was also very weak at 3.3 percent. “The decline in production in the automotive industry was particularly evident,” he warned. Production fell by 6.5 percent compared to the previous month. In the case of energy-intensive companies, it even fell by 12.9 percent compared to the previous year. For Elmar Völker from LBBW, the positive start to 2023 has largely become a waste of time. For him, the current data from the industry underscores that the dangers of a recession are by no means over.
The business figures for the first quarter of Raiffeisen Bank International (RBI) (+2.4%) arrived well on the stock exchange, and the Viennese also raised their annual forecast. The consolidated net profit of 657 million euros was around 24 percent above consensus expectations. However, the consolidated core profit excluding Russia and Belarus was only 330 million in the first quarter and formed the basis for the Baader analysts’ calculation of the adjusted earnings per share. The profits of the subsidiaries in Russia with 301 million euros and Belarus with 24 million euros cannot currently be transferred to the group in Austria and therefore cannot be used for dividend payments.
Biontech reacted on Xetra with premiums of 2.5 percent to the publication of first-quarter figures that were better than expected. At EUR 1.28 billion, sales exceeded the market expectation of EUR 1.06 billion. At EUR 2.05, earnings per share even clearly beat the forecast of EUR 0.27. The biotechnology company confirmed sales expectations of around 5 billion euros for the current year from the vaccine business.
After a weak start to the year, Adesso slipped by 6.9 percent. The development of the earnings side of the business figures presented on Friday evening was disappointing. It was known that the job creation would initially be a burden. But the EBITDA margin was only around 6.5 percent in the first three months. When looking ahead to the second quarter, the company referred to the lower number of working days, which means that this too cannot make a significant contribution to improving the margin.
Deutsche Wohnen lost 1.6 percent with the sector according to the final business figures. Like the parent company, the Vonovia subsidiary slipped into the red as a result of valuation discounts in the first quarter. Vonovia fell by 1.1 percent. The mother holds around 87 percent of Deutsche Wohnen. The prospect of further increases in interest rates weighed on sector sentiment. LEG went down 1.4 percent.
Vantage Towers is leaving the Index family
There was renewed movement in the indices, with Vantage Towers (-1.2%) leaving the MDAX and TecDAX as expected. The development had already been announced with the announcement of the planned delisting, and it has been official since Friday evening. On the other hand, the shares of Hochtief (-0.2%) rose from the SDAX to the MDAX. Vossloh shares (+2.1%) take the place in the SDAX.
In addition, a number of share prices fell with optical price swings, behind which, however, were only dividend payments. Among other things, Munich Re distributed EUR 11.60, and Siltronic, Drägerwerk, Knorr and Axa were also traded ex-dividend.
===
Index Closing Development Development Development
was absolute in % since
beginning of year*
Euro Stoxx 50 4,348.65 +8.22 +0.2% +14.6%
Stoxx 50 4,050.23 +17.75 +0.4% +10.9%
Stoxx 600 466.94 +1.63 +0.4% +9.9%
XETRA DAX 15,952.83 -8.19 -0.1% +14.6%
FTSE-100 London Bank Holiday
CAC-40 Paris 7,440.91 +7.98 +0.1% +14.9%
AEX Amsterdam 752.68 +2.20 +0.3% +9.2%
ATHEX-20 Athens 2,728.69 +35.35 +1.3% +21.2%
BEL-20 Brussels 3,805.96 +6.08 +0.2% +2.8%
BUX Budapest 46,638.60 +307.88 +0.7% +6.5%
OMXH-25 Helsinki 4,782.35 +17.29 +0.4% -1.3%
ISE NAT. 30 Istanbul 5,050.53 +194.50 +4.0% -15.0%
OMXC-20 Copenhagen 2,093.53 +62.46 +3.1% +14.1%
PSI 20 Lisbon 6,112.95 +42.56 +0.7% +7.5%
IBEX-35 Madrid 9,211.30 +64.00 +0.7% +11.9%
FTSE-MIB Milan 27,426.23 +77.66 +0.3% +15.4%
OBX Oslo 1,099.88 +8.73 +0.8% +0.9%
PX Prague public holiday
OMXS-30 Stockholm 2,239.10 -1.39 -0.1% +9.6%
WIG-20 Warsaw 1,922.08 +9.71 +0.5% +7.3%
ATX Vienna 3,259.84 +42.96 +1.3% +3.7%
SMI Zurich 11,595.25 +41.01 +0.4% +8.1%
* at the end of the day
Fixed income market last absolute +/- YTD
German ten-year return 2.33 +0.04 -0.25
US 10-year yield 3.49 +0.06 -0.39
FOREX last +/-% Mon, 8:17 AM 1.1018% YTD
EUR/USD 1.1021 -0.0% 1.1045 148.63 +3.0%
EUR/JPY 148.57 -0.1% 148.76 0.9830 +5.9%
EUR/CHF 0.9802 -0.1% 0.9815 0.8725 -1.0%
EUR/GBP 0.8724 +0.0% 0.8727 134.89 -1.4%
USD/JPY 134.82 -0.0% 134.68 1.2628 +2.8%
GBP/USD 1.2632 -0.0% 1.2656 6.9187 +4.4%
USD/CNH (Offshore) 6.9191 -0.0% 6.9205 -0.1%
Bitcoin 29,216.11
BTC/USD 27,948.61 -3.0% 28,245.66 28,931.65 +68.4%
CRUDE OIL last VT settlem. +/- % +/- USD % YTD
WTI/Nymex 73.20 71.34 +2.6% +1.86 -8.7%
Brent/ICE 76.90 75.30 +2.1% +1.60 -8.8%
GAS VT Settlem. +/- EUR
Dutch TTF 37.20 36.57 +1.7% +0.62 -54.0%
METALS last day before +/- % +/- USD % YTD
Gold (Spot) 2,027.35 2,016.85 +0.5% +10.50 +11.2%
Silver (Spot) 25.64 25.67 -0.1% -0.03 +7.0%
Platinum (Spot) 1,081.83 1,059.93 +2.1% +21.90 +1.3%
Copper Future 3.92 3.88 +1.0% +0.04 +2.6%
YTD relative to previous day’s close
===
Contact the author: [email protected]
DJG/mpt/flf
(END) Dow Jones Newswires
May 08, 2023 12:04 ET (16:04 GMT)
Leverage must be between 2 and 20
No data