FRANKFURT (Dow Jones) — Europe’s stock markets ended Friday with small gains. Positive guidance from Wall Street had a supportive effect. Good Apple numbers and strong economic data drove the indices up there. The DAX gained 0.2 percent to 13,243 points, the Euro Stoxx 50 rose by 0.2 percent to 3,613.
The market was slowed down by the surprisingly high increase in consumer prices in Germany and France. German consumer prices rose 0.9 percent month-on-month in October, well above expectations of a 0.5 percent increase. But inflationary pressures also increased in France in October with an annual rate of 7.1 (September: 6.2).
Reporting season continues courses
Volkswagen lost 1.9 percent. According to a dealer, looking at the development of the automotive group in the third quarter, it is immediately noticeable that the operating result was around 10 percent below market expectations. However, this includes the costs for the Porsche IPO and the suspended activities in Russia. As a result, the operating return on sales could not keep up with market expectations. On the other hand, it is positive that the Wolfsburg-based company has confirmed the annual target of an operating return on sales at the upper end of the range. After weaker figures, Traton fell by 6.8 percent.
At Airbus (+3.7%), dealers pointed out negatively that the adjusted EBIT was around 6 percent below market expectations in the past quarter. On the positive side, the raised cash flow outlook pre-mergers and acquisitions.
Deutsche Telekom shares rose 3.4 percent. The development at T-Mobile US in the third quarter had a positive effect here, after the loss in the previous quarter it was back in the black. At Fresenius, the latest recovery movement, triggered by a Bloomberg circle story about the entry of activist investor Elliott, has come to an end. The stock lost 3.2 percent, for FMC it even went down 8.9 percent.
Compugroup fell by 11.6 percent. Retailers rated it as “surprising” that the company lowered its annual forecast for 2022 due to project postponements. Analysts had prepared in advance for a positive final quarter. ProSiebenSat1 fell by 3.9 percent after receiving a forecast for 2022.
In retail, it came as no surprise that Danone (+2.9%) raised its sales outlook after some competitors had already done so. It was said that price effects had promoted growth and thus compensated for a slight decline in volume.
According to third-quarter figures, Swiss Re fell by 2.4 percent. Jefferies spoke of disappointing growth in net premiums, especially in view of the development of the competition. The combined ratio is also weak at 96.2 percent.
According to the quarterly figures, OMV jumped 9.3 percent. The real price driver, however, was the announcement of a special dividend of EUR 2.25 per share. This practically doubles the payout, according to Jefferies. The dividend yield is 11 percent.
Air France collapse
The business figures for the third quarter of the Swiss building materials manufacturer Holcim (+4%) were rated positively. The EBIT in this period was 4 percent above market expectations. On the other hand, it is no surprise that the company has raised its sales outlook in this environment. The surprisingly announced share buyback program had a supporting effect.
Air France-KLM shares fell 13 percent after the company lowered full-year capacity guidance and missed third-quarter net profit expectations. After the results, the analysts at Citi said the forecast for the full year was cautious. According to Stifel analysts, a deteriorating market environment means that the equity deficit of 2.8 billion euros is not a comfortable balance sheet item.
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Index Closing Development Development Development
. was absolute in % since
. beginning of year*
Euro Stoxx 50 3,613.02 +8.51 +0.2% -16.0%
Stoxx 50 3,525.45 +16.92 +0.5% -7.7%
Stoxx 600 410.76 +0.57 +0.1% -15.8%
XETRA DAX 13,243.33 +32.10 +0.2% -16.6%
FTSE-100 London 7,047.67 -26.02 -0.4% -4.2%
CAC-40 Paris 6,273.05 +29.02 +0.5% -12.3%
AEX Amsterdam 667.52 -1.88 -0.3% -16.3%
ATHEX-20 Athens 0.00 0.00 0.0% -2.6%
BEL-20 Brussels 3,553.63 +26.37 +0.7% -17.6%
BUX Budapest 41,053.71 +63.49 +0.2% -19.1%
OMXH-25 Helsinki 4,604.49 -47.94 -1.0% -16.5%
ISE NAT. 30 Istanbul 4,212.53 -71.45 -1.7% +108.0%
OMXC-20 Copenhagen 1,651.72 +11.65 +0.7% -11.4%
PSI 20 Lisbon 5,675.58 -17.99 -0.3% +1.6%
IBEX-35 Madrid 7,916.50 -4.60 -0.1% -9.2%
FTSE-MIB Milan 22,529.20 -61.21 -0.3% -17.4%
RTS Moscow 1,113.75 +8.04 +0.7% -30.2%
OBX Oslo 1,080.54 +1.11 +0.1% +1.1%
PX Prague 0.00 0.00 0.0% -17.0%
OMXS-30 Stockholm 1,974.28 +6.05 +0.3% -18.4%
WIG-20 Warsaw 1,508.70 +1.96 +0.1% -33.5%
ATX Vienna 2,932.56 +45.24 +1.6% -24.8%
SMI Zurich 10,772.37 +65.75 +0.6% -16.3%
* at the end of the day
FOREX last +/- % Fri 8:42am Thu 5:20pm % YTD
EUR/USD 0.9944 -0.2% 0.9975 0.9997 -12.5%
EUR/JPY 146.69 +0.6% 145.95 145.82 +12.1%
EUR/CHF 0.9907 +0.3% 0.9891 1.0109 -4.5%
EUR/GBP 0.8583 -0.3% 0.8641 0.8629 +2.2%
USD/JPY 147.51 +0.8% 146.41 145.82 +28.2%
GBP/USD 1.1586 +0.2% 1.1543 1.1589 -14.4%
USD/CNH (Offshore) 7.2770 +0.3% 7.2468 7.2362 +14.5%
Bitcoin
BTC/USD 20,478.27 +0.3% 20,288.70 20,591.41 -55.7%
ROHOEL last VT-Settlem. +/- % +/- USD % YTD
WTI/Nymex 87.94 89.08 -1.3% -1.14 +25.9%
Brent/ICE 95.67 96.96 -1.3% -1.29 +30.0%
GAS VT Settlem. +/- EUR
Dutch TTF 109.00 107.38 +1.5% +1.62 +67.1%
METALS last day before +/- % +/- USD % YTD
Gold (Spot) 1,641.33 1,663.30 -1.3% -21.97 -10.3%
Silver (Spot) 19.12 19.61 -2.5% -0.49 -18.0%
Platinum (Spot) 948.45 962.00 -1.4% -13.55 -2.3%
Copper Future 3.45 3.56 -2.9% -0.10 -21.9%
YTD relative to previous day’s close
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(END) Dow Jones Newswires
October 28, 2022 11:54 ET (15:54 GMT)
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