- DAX and other European indices extend bullish surge
- UBS revises forecasts for BMW, Mercedes-Benz and Porsche
- ASML maintains 2025 net sales forecast amid export restrictions
Tuesday’s session on the European stock market brings gains to most stock indices. The German DAX is currently adding 0.50% and retesting new all-time highs, the French CAC40 is up 0.46% at the same time, and the British FTSE100 is adding 0.90%. Investors’ attention is focused on corporate news today, given the lack of important macro data releases.
Sentiment on the European stock market is very good today. The only sectors that are doing slightly worse are the tobacco and semiconductor sectors. Source: xStation5
Volatility observed in individual German companies at the moment. Source: Bloomberg Finance L.P.
DE40 (D1 interval)
DAX has broken out to new all-time highs. From a technical perspective, DE40 seems to be in a general uptrend until the 100-day line (purple line) and the 50-day line (blue line) are broken on high volume, so it is worth watching now to see if the index can sustainably stay above these zones (technically important support points). If such a scenario were to occur, it could mean an increase in the chances of the overall uptrend continuing.
Source: xStation5
Corporate News
BMW (BMW.DE) shares are gaining over 1% in today’s session, temporarily breaking out to new monthly highs after UBS upgraded the German carmaker to buy from neutral, citing prospects for improving returns on invested capital. On the other hand, Mercedes-Benz (MBG.DE) is down 1.4% as the same analysts downgraded the stock to neutral. Porsche (P911.DE) is down 1% as UBS said it believes the justification for the company’s current valuation as a multiple of its earnings is no longer sufficient to sustain sentiment.
Source: xStation
Hochtief (HOT.DE) is up 7%, reaching its highest level since June this year, as BofA upgrades its rating to buy. The broker is positive on companies with US exposure in 2025.
ASML (ASML.NL) maintains its net sales forecast for 2025 amid export restrictions. The company still forecasts net sales of between €30 billion and €35 billion, up from €32.56 billion previously. The company said the impact of export restrictions was within its previously issued forecast.
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