The first half of the year is over. The second started like the first, with price gains. Both the DAX and the Dow Jones posted growth of 13%. Nevertheless, the economy is suffering from the tension of the new delta.
As we do every week, we let our community decide which stocks they think are relevant or not. Some will sound familiar, while others may be a hidden gem.
P.S. and as always, please remember that investing comes with risk, especially at times like now when we are seeing increased volatility and an abundance of liquidity in the markets.
Visa acquires Swedish fintech
There continues to be a lot of activity in the Swedish tech industry. Klarna has been able to raise a large round of funding. Recently, however, U.S. credit card company Visa announced it would buy Stockholm-based fintech Tink. Visa will pay 1.8 billion euros for the deal.
The Swedish startup is an open banking platform. Banks and other companies use Tink to access consumer financial data.
Experts rated Visa shares as a buy. The average analyst price target is $276.33.💰
2. Proctor & Gamble
Large investment by P&G
Procter & Gamble invested in its Euskirchen and Crailsheim Schwalbach sites in June. The Group invested around 70 million euros in the expansion of distribution centers in the above-mentioned locations. This is intended to strengthen delivery capabilities for retailers in the DACH region. Completion of the expansions is likely to take place in 2023.🏗️
Only recently, P&G had invested in the Kronberg site in order to leverage the site's high level of expertise in certain areas and to establish a new innovation center.
Allianz SE becomes part of ATC
Insurance giant Allianz has announced that it will acquire 10 percent of ATC. Allianz is thus committing itself to a transaction that amounts to 530 million euros. Control would remain with American Tower, with Allianz represented on the supervisory board of ATC Europe.🏢
Berenberg rates Allianz SE at Buy. The price target of 250 euros left unchanged. Experts expect the DAX-listed group to raise its full-year earnings targets after the second quarter.
On the other hand, fraud attempts increased by 10 percent during the pandemic.
New member of UBS supervisory board
Financial expert Martin Wittig replaces Roland Koch, former prime minister of Hesse, as head of UBS' supervisory board in Europe. Koch was at the helm for 10 years. According to the group's rules, this was the limit of his tenure. A change was thus inevitable. Koch had been instrumental in the creation of UBS Europe SE.
Recently, UBS announced that it was not a friend of cryptocurrencies. The major bank described crypto trading as gambling. Instead, UBS recommends taking a closer look at the fintech industry.📈
Logitech on track for success
Logitech has proven to be a good-performing investment this year. The stock is currently up 25% year-to-date. First-quarter earnings came in at $1.45 per share, up from $0.420 year-over-year. Thus, for the first quarter, experts' expectations were exceeded by $0.854. For this year, investors are hoping for even better results. 🚀