11.07.2024 +++ Consumer prices +++ PepsiCo quarterly figures +++ Real estate stocks with interest rate fantasy +++ Interest rate cut very likely in the second half of the year +++ (Update 14:00)
Interest rate winners and losers wanted
Stocks that had been punished in the previous days were particularly sought after. The real estate sector, for example, rose, with its pan-European index leading the list of winners with a plus of 2.1 percent.
In the DAX Vonovia $VNA (-2,11%) rose by 4.1 percent, while TAG $TEG (-4,97%) and Aroundtown $AT1 (-0,09%) were up 4.5 and 7.3 percent, respectively, while LEG Immobilien $LEG (-1,45%) by 3.4 percent. Delivery Hero $DHER (+2,28%) jumped by as much as 9.2 percent and Hellofresh $HFG (+7,14%) by 3.6 percent. Citi reiterated its buy recommendation for Hellofresh, while Morgan Stanley lowered its price target for Delivery, but left it well above the current price.
PepsiCo Inc. $PEP (+0,82%) beat analysts' estimates of $2.16 in the second quarter with earnings per share of $2.28. Sales of $22.5 billion below expectations of $22.66 billion.
Following the latest comments by Fed Chairman Jerome Powell, investors are again increasingly
are increasingly expecting easing in the USA in the near future. "Powell's comments fueled investors' hopes of a US interest rate cut in the second half of the year," wrote Commerzbank in the morning. As a result, the US stock markets had continued their record rally the previous evening
ex-dividend of individual stocks
voestalpine EUR 0.70
SDM EUR 0.10
Corporate events USA / Asia
12:00 Pepsico quarterly figures
Quarterly figures / Company dates Europe
07:00 Gerresheimer
07:00 Südzucker quarterly figures
07:00 Fraport traffic figures June
10:00 Fielmann AGM
15:00 BT Group AGM
Economic data
- 08:00 DE: Consumer prices (final) June PROGNOSE: +0.1% yoy/+2.2% yoy Preliminary: +0.1% yoy/+2.2% yoy Previous: +0.1% yoy/+2.4% yoy HICP PROGNOSE: +0.2% yoy/+2.5% yoy Preliminary: +0.2% yoy/+2.5% yoy Previous: +0.2% yoy/+2.8% yoy
- 08:00 UK: GDP April PROGNOSE: +0.2% yoy previous: 0.0% yoy Three-month rate PROGNOSE: +0.7% yoy previous: +0.7% yoy | Trade balance May PROGNOSE: GBP -16.8 bn previous: GBP -19.6 bn | Industrial production May PROGNOSE: +0.1% yoy/+0.6% yoy previous: -0.9% yoy/-0.4% yoy
- 14:30 US: Initial Jobless Claims (week) PROGNOSE: 236,000 previous: 238,000
- 14:30 US: Consumer prices June PROGNOSE: +0.1% yoy/+3.1% yoy previous: 0.0% yoy/+3.3% yoy Core consumer prices PROGNOSE: +0.2% yoy/+3.4% yoy previous: +0.2% yoy/+3.4% yoy
