09.07.2024 +++ Insurers with fewer claims than expected +++ Hydrogen shares with drop in sales for 2025 +++

The share prices of reinsurers Munich Re $MUV2 (-2.42%) (+3.0%) and Hannover Re $HNR1 (-2.23%) (+3.0%) recovered. They had recently suffered from speculation about losses following the early and severe start to the hurricane season.

In the MDAX K+S $SDF (-0.36%) fell by 5.8 percent. Bank of America downgraded the stock by two notches to underweight from buy. However, Stifel is also negative on the share and described it as the least favored in the sector.

The US bank JPMorgan has downgraded the shares of ITM Power $ITM (-2.83%) from "Overweight" to "Neutral" and gave them the cautionary stamp of "Negative Catalyst Watch". Analyst Patrick Jones thus pointed out the correction risks for hydrogen shares in the run-up to their financial results in mid-August on Monday evening. The expert fears that a disappointing sales forecast for 2025 will depress market expectations for the new and subsequent financial year.

Tuesday: stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Klepierre EUR 0.90

Quarterly figures / company dates Europe

07:30 OMV Trading Update 2Q

09:00 Porsche sales 2Q

Untimed: Porsche AG: Pre-Close-Call 2Q

Economic data

• 08:00 DE: Truck Toll Performance Index June
• 10:00 IT: ECB Governing Council member Panetta, video message for the General Assembly of the Banking Association
• 16:00 US: Fed Chairman Powell, Semi-Annual Hearing in the Senate Banking Committee
• No time specified:

US: Nato, Start of Nato Summit July 9-11, 2024 in Washington, D.C.

IN: Russia's President Putin, meeting with India's Prime Minister Modi (since Monday)

UK: First House of Commons meeting planned after the British general election, London