02.09.2024
STOXX-50 under review + USA without stock market trading today + German elections in Thuringia and Saxony, without surprise + VARTA in negotiations with creditors + Is the FED lowering more than expected? Soon we will have more clarity
German Post $DHL (-0,01%) and BASF $BAS (+1,02%) about to leave the Stoxx-50 - Kering to leave the Euro-Stoxx-50 The weakness of the German economy is now also reflected in the indices: in addition to Reckitt Benckiser, Deutsche Post and BASF will probably also have to leave the Stoxx-50 with effect from September 23. The shares of the British stock exchange operator LSE and the bank shares Intesa Sanpaolo and BBVA are likely to move up. Kering will probably have to make way for Engie shares in the Euro Stoxx 50. However, VW's survival in its class was also not entirely assured shortly before the end of the counting period.
25 or 50 basis points - more clarity after the labor market report
As the reporting season for the first half of the year has come to an end, impetus can now be expected primarily from the macro side. The highlights in the coming week will be the Federal Reserve's economic report on Wednesday and the major US labor market report for August on Friday. Following this, there will be more clarity as to whether the US Federal Reserve will cut key interest rates by 25 or 50 basis points at its next meeting on September 18.
The Swabian battery manufacturer Varta $VAR1 (-8,36%) is still wrestling with some of its creditors over changes to its restructuring concept, according to insiders. Some of the promissory note creditors have demanded improvements in their favor, and the company has subsequently improved the concept twice, two people familiar with the negotiations told Reuters news agency on Friday. The ball is now in the creditors' court: they have until today to approve the proposal, said one of the insiders. Varta did not want to comment on this.
It ended August, which was weak in the meantime, with a plus of a good two percent. JPMorgan expert Greg Fuzesi considers the election results in the federal states of Thuringia and Saxony to be "difficult, but not dramatic". After all, it is close to the previous polls. The electoral success of the AfD in Thuringia and the second place in Saxony are a poor testimony to the federal traffic light system. The SPD, Greens and FDP's performance was correspondingly poor. However, according to Fuzesi, this is unlikely to have a direct impact on their federal policy. In addition, the AfD is likely to be excluded from forming a government because other parties are refusing to form coalitions
Monday: Stock market dates, economic data, quarterly figures
ex-dividend of individual stocks
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Quarterly figures / Company dates USA / Asia
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Quarterly figures / Company dates Europe
No time specified:
- Heidelberg Materials, SdK Investor Forum
- Rheinmetall, Bank of America Virtual Industrials Back to School Conference, New York
Stock market holiday USA and Canada
Economic data
- 09:45 IT: Purchasing Managers' Index/PMI manufacturing August previous: 47,4
- 09:50 FR: Purchasing Managers' Index/PMI manufacturing (2nd release) August PROGNOSIS: 42.1 1st release: 42.1 previous: 44.0
- 09:55 DE: Purchasing Managers' Index/PMI Manufacturing (2nd release) August FORECAST: 42.1 1st release: 42.1 previous: 43.2
- 10:00 EU: Purchasing Managers' Index/PMI manufacturing Eurozone (2nd release) August FORECAST: 45.6 1st release: 45.6 Previous: 45.8
- 10:30 UK: Purchasing Managers' Index/PMI Manufacturing (2nd release) August 1st release: 52.5 previous: 52.1
- 15:45 US: Purchasing Managers' Index/PMI Manufacturing (2nd release) August PROGNOSIS: 48.1 1st release: 48.0 previous: 49.6
- 22:05 CH: Review of the composition of the Stoxx-50, Euro-Stoxx-50 and Stoxx-600
