Hannover Rueck

Analyst updates, 18.11.

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- MORGAN STANLEY raises the price target for SIEMENS from EUR 212 to EUR 220. Overweight. $SIE (-0,05%)

- HSBC raises the target price for RHEINMETALL from EUR 660 to EUR 700. Buy. $RHM (+0,48%)

- HSBC raises the target price for DEUTSCHE TELEKOM from EUR 33.50 to EUR 34. Buy. $DTE (+0,53%)

- DEUTSCHE BANK RESEARCH raises the price target for ALLIANZ SE from EUR 275 to EUR 310. Buy. $ALV (+0,03%)

- DEUTSCHE BANK RESEARCH raises the price target for SIEMENS ENERGY from EUR 52 to EUR 57. Buy. $ENR (+1,47%)

- UBS upgrades AIR PRODUCTS & CHEMICALS from Neutral to Buy and raises target price from USD 338 to USD 375. $APD (+0,06%)

- ODDO BHF raises the price target for SWISS RE from CHF 127 to CHF 138. Outperform. $SREN (+0,09%)

- BARCLAYS raises the price target for MUNICH RE from EUR 523 to EUR 551. Overweight. $MUV2 (-0,12%)

- BARCLAYS raises the target price for HANNOVER RÜCK from EUR 206 to EUR 217. Underweight. $HNR1 (-0,1%)

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- MORGAN STANLEY lowers the target price for BAYER from EUR 35 to EUR 30. Equal-Weight. $BAYN (+0,39%)

- KEPLER CHEUVREUX lowers the target price for SIEMENS HEALTHINEERS from EUR 60.50 to EUR 59. Buy. $SHL (-0,07%)

- KEPLER CHEUVREUX downgrades KNAUS TABBERT to Hold. Target price EUR 15. $KTA (+2,88%)

- DEUTSCHE BANK RESEARCH lowers the price target for SGL CARBON from EUR 10.60 to EUR 9. Buy. $SGL (+0,36%)

- DEUTSCHE BANK RESEARCH lowers the price target for PVA TEPLA from EUR 18 to EUR 14.50. Hold. $TPE (+9,92%)

- DEUTSCHE BANK RESEARCH lowers the price target for KERING from EUR 340 to EUR 320. Buy. $KER (+1,25%)

- ODDO BHF downgrades BECHTLE to Neutral. Target price 37 EUR. $BC8 (+1,15%)

- BARCLAYS lowers the price target for UNITED INTERNET from EUR 27 to EUR 23. Equal-Weight. $UTDI (+0,87%)

- BARCLAYS lowers the price target for 1&1 from EUR 19 to EUR 17. Equal-Weight. $1U1 (-0,17%)

- BERENBERG lowers the target price for AIR LIQUIDE from EUR 195 to EUR 190. Buy. $AI (-0,04%)

- HSBC downgrades PORSCHE SE from Hold to Reduce and lowers target price from EUR 36 to EUR 26. $PAH3 (+0,09%)

Earnings this morning 👇🏼

Continental AG Q3 24 Earnings $CONTI

- Sales EU9.83B (est EU9.97B)

- Adj EBIT EU873M (est EU804.4M)

- Adj EBIT Margin 8.9% (est 7.96%)

- Automotive Rev EU4.8B (est EU4.8B)

- Lower FY Sales Outlook To Around EU39.5B To EU42B

Hannover Re $HNR1 (-0,1%) raises its profit outlook for 2024 to EUR 2.3 billion, which leads to a share price increase of 1.4 percent in pre-market trading. The profit target for 2025 is EUR 2.4 billion and is considered conservative by analysts.

Salzgitter
$SZG (+0,09%) confirms the loss of just under 198 million euros in the first nine months and is sticking to its transformation course despite possible takeover plans. The second-largest shareholder GP Günter Papenburg AG is examining an offer for the steel group, while the state of Lower Saxony remains skeptical.

11.11.2024

USA apparently stops delivery of AI microchips from Taiwan to China + Bitcoin reaches new all-time high of $80,076 + Hannover Re expects even more profit despite hurricane series

Apparently, the US Department of Commerce has sent a letter with export restrictions to the chip manufacturer. This is not the first time that TSMC $TSM (+1,54%) has had to suspend deliveries. 10.11.2024 - 09:14 New York/Singapore. The USA has banned a Taiwanese manufacturer from exporting microchips for artificial intelligence applications to China. Taiwan Semiconductor Manufacturing (TSMC) will not be allowed to supply advanced chips to Chinese customers from Monday, a person familiar with the matter told Reuters. These chips are often used for AI programs. According to the insider, the US Department of Commerce has sent a letter to TSMC imposing export restrictions on chips with structures in the seven nanometer range, among other things. The US order comes a few weeks after TSMC informed the US Department that one of its chips was used in an AI processor from the Chinese company Huawei was found. However, Huawei is one of the companies that the US has imposed trade restrictions on. All sales of advanced technology goods to Huawei must therefore be licensed by the USA. TSMC has already suspended deliveries to the China-based chip designer Sophgo after the AI-enabled chip was discovered in the Huawei product. Informed circles had already told Reuters last month.

https://www.handelsblatt.com/technik/it-internet/tsmc-usa-stoppen-offenbar-lieferung-von-ki-mikrochips-aus-taiwan-an-china/100087326.html

The Bitcoin $BTC (+1,25%) reached a new all-time high of $80.076 on Sunday night, German time, which means we are not that far away from the $100,000 that many investors are expecting. What do you think? Will we still reach it in 2024?

The world's third-largest reinsurer Hannover Re $HNR1 (-0,1%) is expecting higher profits this year despite the recent hurricane losses. Instead of at least 2.1 billion, the surplus should now amount to around 2.3 billion, the Dax-listed company announced in Hannover on Monday. For the coming year, outgoing CEO Jean-Jacques Henchoz and his successor Clemens Jungsthöfel have set themselves a target of around 2.4 billion euros. In the third quarter, the reinsurer earned significantly more than analysts had expected. The bottom line for the months of July to September was a profit of 663 million euros, 30 percent more than a year earlier, although flooding in Central and Central Europe cost the Group 225 million euros and hurricane "Helene" in the USA had a negative impact of 130 million euros. The consequences of hurricane "Milton" at the beginning of October are not likely to be reflected in Hannover Re's figures until the fourth quarter.

Monday: Stock market dates, economic data, quarterly figures

Stock market holiday US bond market (US stock market is open)

ex-dividend of individual stocks

ArcelorMittal EUR 0.25

Quarterly figures / company dates Europe

07:15 Stabilus | Hypoport Quarterly figures

07:30 Continental | Hannover Re | Salzgitter | Qbeyond Quarterly figures

08:00 Hawesko quarterly figures | Hannover Re PK | Direct Line Insurance Q3 sales

10:30 Stabilus Analyst Conference

12:30 Continental Analyst Conference

14:00 Hypoport Analyst Conference

No time specified:

- Federal Network Agency: Decision on letter postage Deutsche Post (later morning)

- Elmos Semiconductor Capital Markets Day

Economic data

• 00:50 JP: BoJ Current Account 9/24 | Trade Balance 9/24
• 08:30 DE: Real Estate Financiers Association VDP presents figures on real estate prices in the 3rd quarter
• 10:45 DE: Süddeutsche Zeitung, SZ economic summit, Berlin
• 11:30 DE: Government press conference, Berlin

SL at $HNR1 (-0,1%)

In the short term, the upward trend no longer exists and the losses were therefore realized.

Part of it, too bad chocolate

$SCR (-0,17%) - Reinsurance

(6 largest reinsurers)

Has anyone here already taken a closer look at the world's six largest reinsurers or delved a little deeper into the figures? In contrast to $MUV2 (-0,12%) and $HNR1 (-0,1%) and I would like to know why. Does anyone have a deeper insight?

It can't just be the political environment ?

Maybe someone knows what to look for when searching ? ✌️

Insurance sector likely to grow thanks to robust global economy

Short and sweet

The global insurance sector can expect good growth and higher profitability in 2024 and 2025, supported by a robust global economy and higher interest rates. Global gross domestic product is expected to grow by 2.7% in 2024 and 2.8% in 2025. Non-life insurance is expected to grow by 3.3% to USD 4.6 trillion in 2024 and by 2.6% in 2025. Life insurance will benefit from rising premium volumes and higher profitability, with premium growth of 2.9% to USD 3.0 trillion in 2024 and similar growth in 2025. Challenges remain due to inflation, extreme weather events and geopolitical uncertainties, among other things.

The global insurance sector can expect good growth and higher profitability in the current and coming year. This will be supported by a robust global economy and higher interest rates, according to a study by reinsurer Swiss Re.

Long and more detailed:

Despite geopolitical tensions and higher inflation, the global economy is proving "remarkably resilient", explained Swiss Re chief economist Jérôme Haegeli in the Swiss Re Institute's new "World Insurance Sigma" report. The robust global economy should increase demand for insurance.

According to Swiss Re estimates, global gross domestic product will grow by 2.7 percent in the current year and by 2.8 percent in 2025. Even if the return to lower inflation rates is not proceeding smoothly, monetary conditions have begun to ease worldwide: In September, the US Federal Reserve is expected to make its first cut in key interest rates.

Due to inflation and the resulting increase in claims costs, the trend towards higher prices in non-life insurance is likely to continue. According to forecasts, the premium volume in non-life insurance will grow by 3.3% to 4.6 trillion dollars in 2024, with growth of 2.6% expected in 2025.

In the life insurance sector, the positive interest rates are having a doubly positive effect: Institutions can expect an increase in premium volume and higher profitability. Premiums are forecast to rise by 2.9% to 3.0 trillion dollars, with similar growth expected in 2025 (+2.7%). The operating result is expected to increase by 15 percent, particularly in the largest markets.

The insurance industry continues to face major challenges, explained Kera McDonald, Chief Underwriting Officer of the Swiss Re Corporate Solutions division: these include severe weather events, which have increased significantly in recent years. The annual standard of insured losses is now over 100 billion dollars, with a growth rate of 5 to 7 percent per year.

Inflation is also leading to rising claims. Geopolitical and regulatory uncertainties are also influencing insurers' business. Since 2020, insurance claims from strikes, riots and civil unrest have increased by a factor of 30, according to McDonald. Rapid technological change, for example in the field of artificial intelligence, poses additional risks.

The largest reinsurers:

$MUV2 (-0,12%)

$SREN (+0,09%)

$HNR1 (-0,1%)

Happy Investing

GG

Sources:

awp

McKinsey Global Insurance Report 2023 | McKinsey (2023 - for context)

Top 50 Global Reinsurance Groups - Reinsurance News

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 (-0,12%) (+3.0%) and Hannover Re $HNR1 (-0,1%) (+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 (+1,78%) 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 (+0,81%) 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

a share that is rather less well known

indirectly in $HNR1 (-0,1%) invested

first mini-tranche 🤓

Hey guys I finally took the plunge a good month ago and opened a securities account.

Briefly about me:

I'm 19 years old, I'm currently studying and I'm trying to build up some security for my old age.

My current savings rate is a good €700 per month, partly due to my otherwise frugal behavior.

I would like to add the following items in the near future:

Hannover Rueck $HNR1 (-0,1%)

Meta $META (+0,03%)

Maybe someone can give me a short feedback😄

Best regards

Nico

Next week will be wild! DAX40 dividends 📈

Netflix, Texas Instruments, AT&T, Tesla, Johnson & Johnson, Visa, ASML, LVMH, Intel, P&G... ⤵️

The first few weeks of the new year have been fairly quiet. Nevertheless, there has already been some news. Above all, however, there will be some quarterly figures from the USA in the next two weeks. This could provide plenty of material for the market again. I am very excited.

If you take a look at the DAX40. According to current forecasts, 21 out of 40 companies will increase their dividends. Among them are $SIE (-0,05%) Siemens , $DTE (+0,53%) Deutsche Telekom, $RWE (+0,37%) RWE, $EOAN (+1,07%) E.on and $SAP (+0,43%) SAP. But also the anchors of Deutsche Dividenden $MUV2 (-0,12%) Munich Re, $HNR1 (-0,1%) Hannover Re and $ALV (+0,03%) Allianz. So is the DAX40 still interesting for dividend investors?

I also posted an article about this on my Instagram channel this morning https://www.instagram.com/mitverstandzumkapital posted!

Then yesterday I already wrote about the Bitcoin ETF from $BLK Blackrock in this post here on getquin:

https://app.getquin.com/en/activity/YkCcXCokGf

reported. It took the ETF just 4 trading days to reach the 1 billion mark. Is this still a bullish signal for Bitcoin or is it all being overestimated? You know, yes, when the whole world assumes rising figures, things often turn out differently than you think. So the surprise is more on the downside than on the upside. The drop is high. This ETF will be followed by many others and they will bring capital into the market. At the moment, however, we are seeing some selling. True to the motto: "Sell on good news!" There are still a few weeks to go until the halving of $BTC (+1,25%) Bitcoin, which is due again this year. Another positive signal for Bitcoin. So it remains very exciting.

Whether because of dividends, cryptocurrencies or quarterly figures. The next few weeks will definitely be far more exciting than the last 3. That is probably the only thing that is guaranteed. Please don't forget that, as with the dividend increase, everything is based on forecasts and they don't have to come true.

What are you expecting in the next few weeks? Rather a rising or falling market?

Especially with the quarterly figures, there will certainly be some disappointments. I'm mainly looking at $TSLA (+0,24%) Tesla, $AAPL (+0,18%) Apple and $NFLX (+0,04%) Netflix. What do you think?

On that note, see you next trading week and have a nice and quiet weekend!

Source: https://www.cashkalender.de/calendar/2024/4/

Source: https://www.handelsblatt.com