11.09.2024

Tesla with a buy recommendation and 40% upside potential + Alibaba with a new upswing + BMW shocks the automotive sector + Real estate stocks ahead thanks to interest rates - US inflation in view +

Tesla $TSLA (+6,49%) gained 4 percent to a good 225 US dollars. Deutsche Bank recommended buying the shares of the e-car manufacturer and identified 40% upside potential

Shares (including the ADR) of Alibaba $BABA (+4,21%) - $9988 (+3,3%) rose sharply as investors reacted to the news of the company's listing on the Chinese mainland stock exchanges. Alibaba announced its listing on the Southbound (SB) Connect late Monday. This came after the Chinese e-commerce company upgraded its Hong Kong listing to primary status last month, paving the way for its inclusion in the Stock Connect Scheme of China's Shanghai and Shenzhen stock exchanges.

With a share price slump of 11.2 percent at BMW $BMW (+0,81%) investors reacted to two pieces of bad news: firstly, the margin had to be reduced to 6 to 7 percent due to recalls of brake systems, whereas the market had expected over 9 percent. Worse was the fact that the delivery forecast was also lowered, after a slight increase had previously been expected. RBC Capital Markets said that the warning undermined hopes for a better second half of the year. "This is an operational problem and of course cuts all analysts' expectations for sales growth," said one trader. The BMW statements therefore infected the entire sector.

Real estate shares were the only sector to hold their ground against the decline. In the DAX Vonovia $VNA (-2,92%) rose by 2.2 percent, Aroundtown $AT1 (+0,39%) even rose by 14 percent thanks to hopes of an interest rate cut. On Wednesday, US consumer prices are hoping for signals for the Federal Reserve's monetary policy decision next week. Opinions differ as to whether the Fed will cut interest rates by just 25 basis points or 50 basis points. The ECB on Thursday is expected to cut rates by 25 basis points.

Wednesday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

HP USD 0.28

Quarterly figures / company dates Europe

07:30 Inditex | Auto1 half-year figures

10:00 Richemont AGM

16:00 ARM Holding AGM

Economic data

• 03:00 US: TV debate between the candidates for the US presidency Kamala Harris and Donald Trump, Philadelphia
• 08:00 UK: GDP July Forecast: +0.2% yoy/+1.4% yoy previous: 0.0% yoy/+0.7/ yoy | Trade Balance July Forecast: n/a previous: -£18.9bn | Industrial Production July Forecast: +0.3% yoy/-0.1% yoy previous: +0.8% yoy/-1.4% yoy | Services Sector Production July
• 14:30 US: Consumer prices August PROGNOSE: +0.2% yoy/+2.6% yoy previous: +0.2% yoy/+2.9% yoy Core consumer prices PROGNOSE: +0.2% yoy/+3.2% yoy previous: +0.2% yoy/+3.2% yoy
• 14:30 US: Real income August