The evening market overview compiled by Dow Jones Newswires:
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+++++ HOLIDAY NOTICE +++++
MONDAY: Shortened trading takes place in the US due to Independence Day Tuesday.
+++++ STOCK MARKETS (6.10 p.m.) +++++
INDEX Stand +-% +-% YTD* EuroStoxx50 4.399,09 +1,0% +16,0% Stoxx50 4.003,92 +1,0% +9,6% DAX 16.147,90 +1,3% +16,0% FTSE 7.534,79 +0,8% +0,3% CAC 7.400,06 +1,2% +14,3% DJIA 34.334,68 +0,6% +3,6% S&P-500 4.440,90 +1,0% +15,7% Nasdaq-Comp. 13.769,67 +1,3% +31,6% Nasdaq-100 15.156,31 +1,4% +38,5% Nikkei-225 33.189,04 -0,1% +27,2% EUREX Stand +-Ticks Bund-Future 133,75 +14 *zu Vortag
+++++ COMMODITY MARKETS +++++
ROHOEL zuletzt VT-Settlem. +/- % +/- USD % YTD WTI/Nymex 70,97 69,86 +1,6% +1,11 -10,6% Brent/ICE 75,69 74,51 +1,6% +1,18 -9,0% GAS VT-Settlem. +/- EUR Dutch TTF 37,63 35,34 +6,5% +2,30 -57,0% METALLE zuletzt Vortag +/- % +/- USD % YTD Gold (Spot) 1.920,29 1.908,53 +0,6% +11,77 +5,3% Silber (Spot) 22,80 22,58 +1,0% +0,23 -4,9% Platin (Spot) 910,55 899,18 +1,3% +11,38 -14,7% Kupfer-Future 3,74 3,68 +1,8% +0,07 -1,9%
The oil price recorded significant gains, boosted by the latest positive economic data from the USA. However, prices remain in their recent range.
+++++ FINANCIAL MARKET USA +++++
Friendly – The market received an additional boost from the PCE deflator in May, which came in slightly lower than expected at the core rate. Released alongside Personal Expenditure and Income, it is one of the Federal Reserve’s preferred indicators of inflation. The University of Michigan Consumer Sentiment Index beat the consensus estimate of economists. The fact that the purchasing managers’ index for the Chicago region did not rise as significantly as expected in June is not significant. Nike shares are under selling pressure on the stock market. The sporting goods manufacturer earned less in its fourth fiscal quarter of 2022/23 than in the previous year and missed profit expectations. The share fell by 2.6 percent, while that of the competitor Under Armor rose by 0.1 percent. Apple shares (+1.4%) climb to a new record high, the market value of the iPhone maker exceeds the $3 trillion mark.
+++++ FINANCIAL MARKETS EUROPE +++++
Firm – It went up across the board. At the end of the half-year, “window dressing” also drove prices. The US economic data was described in retail as “good, but not too good”. In particular, the eagerly awaited PCE deflator supported sentiment. As hoped, it showed a slowing pace of price increases. The German sporting goods manufacturers were unimpressed by the business figures at Nike. Adidas expanded their profits to 2.5 percent and Puma even to 3.3 percent. LEG (+4.3%) has raised the annual outlook for profit margin and cash inflow for the current year. Vonovia also rose 3.1 percent, TAG Immobilien 3.5 percent. Sartorius and Siemens Energy were up on the DAX by up to 4.4 percent. Siemens Healthineers was also listed 2.5 percent higher, Infineon even 3.1 percent. The factory logisticians from Kion (+6.8%) and Jungheinrich (+4.9%) were also wanted. Deutsche Bank and Warburg have commented positively on Kion. The interim report from the catering company Sodexo (-1%), on the other hand, slowed prices. OMV went up by 2.1 percent. The Austrian oil company has sold its subsidiary in Slovenia to the MOL Group.
+++++ THE MOTTO +++++
DEVISEN zuletzt +/- % Fr, 8:16 Uhr Do, 17.20 Uhr % YTD EUR/USD 1,0914 +0,5% 1,0862 1,0888 +2,0% EUR/JPY 157,68 +0,3% 157,16 157,47 +12,3% EUR/CHF 0,9769 -0,0% 0,9771 0,9773 -1,3% EUR/GBP 0,8590 -0,3% 0,8608 0,8632 -2,9% USD/JPY 144,49 -0,2% 144,70 144,63 +10,2% GBP/USD 1,2705 +0,8% 1,2616 1,2613 +5,0% USD/CNH (Offshore) 7,2681 +0,0% 7,2663 7,2616 +4,9% Bitcoin BTC/USD 29.947,08 -1,6% 30.682,31 30.503,44 +80,4%
The dollar has turned negative with the PCE price index. The dollar index fell 0.4 percent.
+++++ EAST ASIA FINANCIAL MARKETS +++++
Mixed – Participants spoke of largely calm trading at the end of the quarter and half-year. Economic data caused some movement. The purchasing managers’ index for the manufacturing sector in China recovered slightly in June compared with the previous month, but fell just short of economists’ expectations. The data fueled expectations that the Chinese government will enact an economic stimulus package. In Tokyo, the Nikkei 225 fell 0.1 percent, but the index recovered from more significant losses later. Participants referred to the uncertainty about the further interest rate policy of the central banks as a reason. There was also Japanese economic data. Industrial production in May fell by 1.6 percent month-on-month, while the market had only expected a decline of 0.9 percent. In addition, core consumer prices in the Tokyo region rose slightly less than expected year-on-year. In Sydney, the S&P/ASX-200 gained 0.1 percent. The index has moved in a narrow range, it said.
+++++ COMPANY REPORTS SINCE 1.30 PM +++++
GERMAN BANK
The new head of private customers at Deutsche Bank is planning structural changes in his division. “So far, the German private customer business and the international business with private customers and wealth management have each been managed independently,” Claudio de Sanctis told the Handelsblatt. “The areas will move much closer together.”
DWS
The rating agency Moody’s has certified the asset manager DWS as having a solid credit rating. Moody’s awarded the Deutsche Bank subsidiary the grade “A2” with a stable outlook as the first rating. The rating reflects DWS’ leading position in its home market, its global footprint and its robust financial flexibility, which is backed by very low debt and strong liquidity.
PROSIEBENSAT1
The management of Prosiebesat1 Media SE has to listen to harsh criticism at the virtual general meeting. “ProSiebenSat1 gives the impression of a poorly produced reality show,” said fund manager Andreas Thomae from Deka Investment. He spoke of a “mixture of comedy and horror”. In view of the frequent board changes in recent years, he called on the management to bring continuity back to the company and criticized the weak share price development.
APPLE
has reached a market value of more than three trillion dollars (almost 2.8 trillion euros). The value of the iPhone and Macbook maker’s shares on Wall Street rose by around 1.5 percent to more than $192.5 after the start of trading. Apple is the company with the largest market value in the world.
BAWAG
has denied the allegations by activist investor Petrus Advisers. The content of Petrus’ report was “inconsistent, taken out of context and misleading,” the Austrian bank said. The investor’s statement that he had built up a short position could explain the underlying economic motivation of the report and was “an indication of general credibility”.
ESPN
puts the red pencil on his commentators. As the Disney subsidiary announced, it wants to fire some commentators because of cost reductions. In addition to the short-term job cuts, the company will continue to focus on costs “when we negotiate individual contract extensions in the coming months.”
FORD
The US carmaker Ford has found an investor to take over the Saarlouis plant. IG Metall announced that a letter of intent had been signed with a “major industrial investor” to take over the factory premises. The name remained secret for the time being. According to IG Metall, at least 2,500 jobs will be created in the long term.
NOVARTIS
sells its Xiidra eye drops to Bausch + Lomb, a Canadian manufacturer of contact lenses and eye medications. Bausch + Lomb will initially pay $1.75 billion, the company said. Depending on the achievement of certain milestones, up to 750 million dollars can be added. Xiidra is used to treat dry eye syndrome.
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Contact the author: maerkte.de@dowjones.com
DJG/once
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2023-06-30 17:01:39
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