By Herbert Rude
FRANKFURT (Dow Jones) – On Monday, the European stock exchanges are mostly down a bit at the opening. The DAX falls by half a percent to 16,274 points, the Euro-Stoxx-50 falls by 0.4 percent to 4,378 points. In the DAX, Sartorius shares collapsed by 14 percent after a sales warning. MTU and Airbus are very firm with positive news from the Le Bourget Air Show. On the other hand, market participants on the overall market are preparing for a quiet Monday. At the end of the sector indices, sectors that were initially sensitive to the economy, such as chemicals, construction and raw materials, ranked with losses of up to 2.2 percent.
“At the start of the new week, the motto is to take a deep breath,” says Thomas Altmann from asset manager QC Partners. Another source says that after the eventful past week with the interest rate decisions of the central banks in the USA and Europe and the big expiration date on the futures exchanges, the stock market should first reorganize itself. With the all-time highs in various indices, “impressive” price targets have been achieved, which first of all have to be defended.
In addition, it is a public holiday in the USA, stock and bond markets are closed. Accordingly, impulses will be missing here. Sales should therefore remain relatively low. Important economic data are not due on Monday.
Prices are falling on the bond market, so yields are rising after the central banks in the USA and the euro zone surprised on the hawkish side.
Sartorius stock under severe pressure after sales warning
The price losses of the laboratory equipment supplier Sartorius are also accompanied by strong discounts for the subsidiary Stedim (-14%) in Paris. Late on Friday, Sartorius warned of a drop in sales for the current year that could reach into the mid tens of percent. So far, sales growth in the low single-digit percentage range has been expected. The reason is the ongoing reduction in inventories at customers. “Not everyone had it on their radar that sales would fall beyond corona products,” comments one retailer. Because even without this, Sartorius expects a drop in sales in the mid to high single-digit percentage range.
Merck is also sucked into the Sartorius pull, falling by 5 percent. Citi said the extent of Sartorius’ profit warning was weighing on sentiment. However, the Merck portfolio is broader, with the Science & Lab Solutions area accounting for 51 percent of total sales. Siemens Healthineers come back 1.3 percent, in the third row Eckert & Ziegler lose 2.8 percent.
On the other hand, MTU in the DAX increased by 3.7 percent. The engine manufacturer has raised the margin target. Airbus gained 1.8 percent after the company raised its forecast for global demand the previous week. In the slipstream, Fraport is listed 3.4 percent higher in the MDAX.
Beiersdorf is also among the winners in the DAX. With an increase of 1.4 percent, they benefit from a positive analyst assessment. In the TecDAX, Telefonica Deutschland gained 1.3 percent. Barclays has raised its price target. United Internet lost 0.2 percent after a downgrade by Barclays. Flatexdegiro gained 5 percent in the SDAX. The share had already benefited on Friday from the fact that the financial supervisory authority lowered the capital requirements.
Stock index last +/-% absolute +/-% YTD
Euro Stoxx 50 4,379.96 -0.3% -14.86 +15.5%
Stoxx 50 4,019.18 -0.4% -14.22 +10.1%
DAX 16,262.84 -0.6% -94.79 +16.8%
MDAX 27,269.18 -0.8% -211.64 +8.6%
TecDAX 3,210.81 -1.9% -61.26 +9.9%
SDAX 13,624.34 -0.6% -82.79 +14.2%
FTSE 7,615.78 -0.4% -26.94 +2.6%
CAC 7,350.99 -0.5% -37.66 +13.6%
Fixed income market last absolute +/- YTD
German ten-year return 2.47 +0.00 -0.10
FOREX last +/- % Mon, 8:09 Fri, 17:32 % YTD
EUR/USD 1.0929 -0.1% 1.0936 1.0928 +2.1%
EUR/JPY 155.11 -0.0% 154.90 154.78 +10.5%
EUR/CHF 0.9774 -0.1% 0.9775 0.9764 -1.3%
EUR/GBP 0.8526 -0.0% 0.8531 0.8525 -3.7%
USD/JPY 141.91 +0.1% 141.64 141.64 +8.2%
GBP/USD 1.2820 -0.0% 1.2820 1.2818 +6.0%
USD/CNH (Offshore) 7.1593 +0.4% 7.1550 7.1281 +3.3%
Bitcoin
BTC/USD 26,427.68 +0.1% 26,450.35 25,582.27 +59.2%
ROHOEL last VT-Settlem. +/- % +/- USD % YTD
WTI/Nymex 71.27 71.78 -0.7% -0.51 -10.7%
Brent/ICE 76.14 76.61 -0.6% -0.47 -9.1%
GAS VT Settlem. +/- EUR
Dutch TTF 32.48 35.01 -7.2% -2.53 -59.4%
METALS last day before +/- % +/- USD % YTD
Gold (Spot) 1,953.40 1,957.99 -0.2% -4.59 +7.1%
Silver (Spot) 24.04 24.20 -0.7% -0.16 +0.3%
Platinum (Spot) 983.25 986.40 -0.3% -3.15 -7.9%
Copper Future 3.87 3.89 -0.5% -0.02 +1.4%
YTD relative to previous day’s close
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(END) Dow Jones Newswires
June 19, 2023 03:51 ET (07:51 GMT)
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