13.12.2024
ECB lowers interest rates as expected + Munich Re expects further profit growth in 2025 + Berenberg lowers Teamviewer to 'Hold' - target 13 euros
No surprise in the interest rate policy
- The European Central Bank cuts the deposit rate by 0.25 percentage points to 3.00 percent, in line with forecasts.
- The European Central Bank lowers the main refinancing rate by 0.25 percentage points to 3.15 percent, as expected.
- The European Central Bank lowers the marginal lending rate by 0.25 points to 3.40 percent, in line with forecasts.
- The European Central Bank (ECB) lowers its inflation forecast for 2024 from 2.5% to 2.4%
- The European Central Bank announces that the disinflation process is "well on track".
- The European Central Bank expects the inflation rate to be 2.1% in 2027
- The European Central Bank (ECB) confirms its inflation rate projection for 2026 at 1.9%.
- The European Central Bank lowers its inflation forecast for 2025 from 2.2% to 2.1%.
Reinsurer Munich Re $MUV2 (-1.1%)expects further profit growth in the coming year
- Munich Re, the world's largest reinsurer, is once again targeting higher profits for the coming year.
- The management of the DAX-listed group is planning a net profit of 6 billion euros in 2025, compared with the target of over 5 billion euros for the current year, as the company announced in Munich on Friday.
- Analysts had previously expected an average profit of 5.9 billion euros in the coming year.
- Munich Re had earned 4.6 billion euros in 2023.
- All business segments should continue to develop well, the Group said.
- The return on investment should improve to over 3.0 percent in 2025.
Teamviewer $TMV (-2.93%)with down rating
- The private bank Berenberg has downgraded Teamviewer from "buy" to "hold" and lowered the target price from 19 to 13 euros.
- Analyst Gustav Froberg justified his reassessment on Friday with concerns regarding the use of capital, which could weigh on the shares for the time being.
- The takeover of 1E makes strategic sense, but it cannot be ruled out that too much money will be sacrificed for it.
- More clarity is needed regarding the effects, also with regard to synergies.
Friday: Stock market dates, economic data, quarterly figures
- ex-dividend of individual stocks
KWS SAAT 0.90 EUR
Walmart USD 0.21
Albemarle USD 0.41
- Quarterly figures / company dates Europe
07:30 Munich Re Outlook 2025
08:30 Munich Re Analyst Conferencez
- Economic data
08:00 DE: Trade balance October Trade balance calendar and seasonally adjusted FORECAST: +18.0 bn euro previous: +17.0 bn euro Exports FORECAST: -3.0% yoy previous: -1.7% yoy Imports FORECAST: -1.0% yoy previous: +2.1% yoy
08:00 UK: GDP month October Forecast: +0.1% yoy previous: -0.1% yoy | Trade Balance October Forecast: n/a previous: GBP -51.1 bn | Industrial Production October Forecast: +0.2% yoy/+0.1% yoy previous: -0.5% yoy/-1.8% yoy
11:00 EU: Industrial Production October Eurozone OUTLOOK: -0.2% yoy/-2.1% yoy previous: -2.0% yoy/-2.8% yoy
14:30 US: Import and export prices November import prices FORECAST: -0.2% yoy previous: +0.3% yoy
