16.12.2024
Fed interest rate decision in focus + New Nike CEO must turn the tide + Berenberg raises target for Rheinmetall to EUR 750 (655) to BUY
The DAX continued its upward trend last week, reaching another record high last Friday. However, investors are likely to hold back on new investments in the coming week: In addition to the Fed's interest rate decision on Wednesday, the witches' Sabbath is due on Friday.
Nike $NKE (-6,85%)delivers figures on Thursday
The world's number one sneaker manufacturer currently has plenty of construction sites, which are likely to be reflected in the results for the second quarter. It is eagerly awaited how quickly Nike veteran Elliott Hill, who returned as CEO in mid-October, can turn things around. And how he intends to do this. Brand desirability has suffered in comparison to competitors - even smaller ones - partly because Nike has recently focused little on innovation. Wholesale has also been neglected with the focus on direct-to-consumer (DTC) sales. The group must "work hard to win back the customers it has lost to companies such as On, Adidas, New Balance and Hoka", and a turnaround under a new CEO could take longer than the market anticipates, according to the Jefferies analysts. Adidas in particular has recently caught up in Nike's US home market. >>> Thursday, December 19, 2024; 22:15
Berenberg raises target for Rheinmetall $RHM (-0,78%)to EUR 750 (655) and BUY
The private bank Berenberg has raised its target price for Rheinmetall from EUR 655 to EUR 750 and left its rating at "Buy". Following his analysis of the current order situation in the defense sector, expert George McWhirter believes that the Düsseldorf-based company can achieve average growth of 24 percent per annum until 2027 in the base scenario. Rheinmetall is excellently positioned for the armaments cycle in Europe, he wrote in his assessment published on Monday. The potential would increase if Germany and NATO were to increase their budgets.
Monday: Stock market dates, economic data, quarterly figures
- ex-dividend of individual stocks
Meta Platforms (A) USD 0.50
Merck & Co USD 0.81
- Quarterly figures / company dates Europe
08:00 Hennes & Mauritz sales 4Q
10:30 Volkswagen: 5th round of negotiations between VW and IG Metall, works council on the 2024 collective bargaining round and plant closures
- Economic data
08:00 LT: ECB President Lagarde, press conference with Governing Council member Simkus
09:15 FR: Purchasing Managers' Index/PMI non-manufacturing (1st release) December Forecast: 46.5 Previous: 46.9 Total Purchasing Managers' Index (1st release) Forecast: 45.8 Previous: 45.9
09:15 FR: Purchasing Managers' Index/PMI manufacturing (1st release) December FORECAST: 43.0 PREVIOUS: 43.1
09:15 LT: ECB President Lagarde, keynote speech at Lithuanian central bank conference (09:30 panel participation)
09:30 DE: Purchasing Managers' Index/PMI non-manufacturing (1st release) December FORECAST: 49.3 PREVIOUS: 49.3 Total Purchasing Managers' Index (1st release) FORECAST: 47.3 PREVIOUS: 47.2
09:30 DE: Purchasing Managers' Index/PMI manufacturing (1st release) December FORECAST: 43.0 PREVIOUS: 43.0
10:00 EU: Purchasing Managers' Index/PMI non-manufacturing Eurozone (1st release) December FORECAST: 49.4 PREVIOUS: 49.5
10:00 EU: Purchasing Managers' Index/PMI manufacturing euro area (1st release) December FORECAST: 45.0 PREVIOUS: 45.2 Total Purchasing Managers' Index (1st release) FORECAST: 48.3 PREVIOUS: 48.3
10:00 EU: ECB, results of the monetary policy analyst survey
10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (1st release) December FORECAST: 51.0 previous: 50.8 | Purchasing Managers' Index/PMI Manufacturing (1st release) December FORECAST: 48.5 previous: 48.0
14:30 US: Empire State Manufacturing Index December FORECAST: 5.8 PREVIOUS: 31.2
15:45 US: Purchasing Managers' Index/PMI Service (1st release) December PROGNOSE: 56.7 PREVIOUS: 56.1
15:45 US: Purchasing Managers' Index/PMI Manufacturing (1st release) December FORECAST: 49.6 PREVIOUS: 49.7
