MARKETS EUROPE/stock exchanges have a good start to the weekend

FRANKFURT (Dow Jones) — The European stock exchanges closed firmly on Friday after a volatile course. The DAX increased by 1.5 percent to 14,284 points, the Euro-Stoxx-50 gained 1.5 percent to 3,858 points. In retail there was talk of a counter-movement to the most recent levies. The market was supported by a report according to which the ECB wanted to create a crisis instrument as part of monetary tightening against the widening of the European interest rate differentials. Overall, however, the stock market environment remains difficult with the Ukraine war and Russia sanctions, high inflation and the resulting rise in market interest rates and lockdowns in China.

The previous evening, the 27 EU countries had approved the coal embargo against Russia proposed by the EU Commission. The EU’s fifth package of sanctions was expected in this way and does not provide any impetus. The calendar is pretty empty at the end of the week.

Elections in France could be exciting

In France, the President is elected, a re-election of Emmanuel Macron is no longer as certain for Commerzbank as was believed a few weeks ago. The first round takes place on Sunday and it is expected that Macron and his closest rival Marine Le Pen will face off in the run-off two weeks later.

The latest polls suggest that this runoff could be closer than previously thought. This uncertainty has recently weighed on the French equity and bond markets. On Friday, the courses in Paris went up by 1.3 percent. DWS was quite relaxed about the elections.

Beiersdorf disappoints with the view

Beiersdorf’s sales figures were positively noted by observers. However, the company had been cautious about the future prospects. As a result, the stock lost 1.0 percent. In the first quarter of 2022, Beiersdorf achieved an organic increase in consolidated sales of 10.3 percent, which was above the expectations of the capital market.

The K+S share rose by 9.5 percent. According to a statement from the trade, the value benefited from an upgrade by JP Morgan by two notches to “Outperform” after previously “Underperform”.

Scout24 shares increased by 13.7 percent. According to a statement from the trade, the driver was a report with reference to the source “Dealreporter”, according to which financial investors are once again keeping an eye on the company. Accordingly, Hellman & Friedman, EQT and Permira are said to have expressed interest. But according to the report, Cinven Partners and CVC Capital Partners should also be interested. In May 2019, a takeover attempt failed.

Volvo’s 4 billion kronor writedown of Russian assets was priced into the market. According to Kepler Cheuvreux, this was to be expected after the corresponding write-downs by the competitors. The analysts confirm their buy recommendation for the share. Volvo gained 2.1 percent.

Frasers Group increases stake in Hugo Boss

The fact that the British retailer Frasers had once again increased its stake in Hugo Boss (+1%) was rated slightly positively on the stock exchange. The British now hold 2.1 percent of the entire share capital of Hugo Boss and, via financial instruments, 23.2 percent of the share capital of the MDAX group. With the achievement of the blocking minority, the goal should have been achieved, it was said from the trade.

Italy’s Banco BPM was up 10.2 percent after French bank Credit Agricole took a 9.18 percent stake in the partner institution. As explained by Credit Agricole, the strategic partnership with Banco BPM will be expanded on the basis of the share purchase.

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Index Closing Development Development Development

was absolute in % since

beginning of the year

Euro Stoxx 50 3,858.37 +56.36 +1.5% -10.2%

Stoxx 50 3,788.81 +55.32 +1.5% -0.8%

Stoxx 600 460.97 +5.95 +1.3% -5.5%

XETRA DAX 14,283.67 +205.52 +1.5% -10.1%

FTSE-100 London 7,669.56 +117.75 +1.6% +2.3%

CAC-40 Paris 6,548.22 +86.54 +1.3% -8.5%

AEX Amsterdam 724.75 +8.22 +1.1% -9.2%

ATHEX-20 Athens 2,197.38 +42.28 +2.0% +2.6%

BEL-20 Brussels 4,221.39 +58.25 +1.4% -2.1%

BUX Budapest 42,191.13 +383.16 +0.9% -16.8%

OMXH-25 Helsinki 4,951.14 +101.07 +2.1% -13.0%

ISE NAT. 30 Istanbul 2,662.70 +59.60 +2.3% +31.5%

OMXC-20 Copenhagen 1,824.45 +4.48 +0.2% -2.1%

PSI 20 Lisbon 6,063.18 +42.93 +0.7% +9.6%

IBEX-35 Madrid 8,606.40 +139.00 +1.6% -1.2%

FTSE-MIB Milan 24,819.15 +516.44 +2.1% -11.1%

RTS Moscow 1,079.99 -12.42 -1.1% -32.3%

OBX Oslo 1,158.89 +18.49 +1.6% +8.5%

PX Prague 1,363.13 +15.82 +1.2% -4.4%

OMXS-30 Stockholm 2,131.86 +23.83 +1.1% -11.9%

WIG-20 Warsaw 2,085.07 +8.44 +0.4% -8.0%

ATX Vienna 3,231.18 +77.19 +2.4% -17.8%

SMI Zurich 12,507.69 +135.23 +1.1% -2.9%

Fixed income market last absolute +/- YTD

German ten-year return 0.70 +0.02 +0.88

US 10-year yield 2.70 +0.03 +1.19

FOREX last +/- % Fri 8:06am Thu 5:38pm % YTD

EUR/USD 1.0873 -0.1% 1.0864 1.0902 -4.4%

EUR/JPY 135.19 +0.2% 134.71 135.02 +3.3%

EUR/CHF 1.0150 -0.1% 1.0153 1.0170 -2.2%

EUR/GBP 0.8346 +0.3% 0.8317 0.8348 -0.7%

USD/JPY 124.34 +0.3% 123.98 123.86 +8.0%

GBP/USD 1.3020 -0.4% 1.3064 1.3060 -3.8%

USD/CNH (Offshore) 6.3704 +0.1% 6.3620 6.3622 +0.3%

Bitcoin

BTC/USD 43,714.93 +0.5% 43,634.71 43,297.63 -5.4%

ROHL last VT-Settl. +/- % +/- USD % YTD

WTI/Nymex 97.03 96.03 +1.0% 1.00 +31.2%

Brent/ICE 101.07 100.58 +0.5% 0.49 +32.0%

METALS last day before +/- % +/- USD % YTD

Gold (Spot) 1,943.78 1,931.93 +0.6% +11.85 +6.3%

Silver (Spot) 24.67 24.62 +0.2% +0.05 +5.8%

Platinum (Spot) 976.63 966.08 +1.1% +10.55 +0.6%

Copper futures 4.73 4.70 +0.6% +0.03 +6.2%

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DJG/mpt/flf

(END) Dow Jones Newswires

April 08, 2022 12:09 ET (16:09 GMT)