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MRKTE EUROPA / Reporting season dominates – gold at record high | message

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FRANKFURT (Dow Jones) – The European stock markets took a breather on Tuesday. It was viewed positively in the trade that the number of new infections with the coronavirus in the USA had decreased for the second day in a row. On the other hand, the political risks remained high there. Republicans and Democrats continued to fail to agree on a new aid package. The China-US conflict also remained present.

, MRKTE EUROPA / Reporting season dominates – gold at record high | message, Forex-News, Forex-News

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At $ 1,996, the troy ounce of gold was at a record high. In retail, the only question was “when”, not “whether” the 2,000 mark would be cracked. The drivers continued to be falling yields on the bond markets that speak for gold. The 5-year Treasuries yielded below 0.2 percent at a new low.

In Europe, the reporting season dominated again and provided the impetus for the individual values. The DAX lost 0.4 percent to 12,601 points, while the Euro-Stoxx-50 rose 0.2 percent to 3,254 counters. This was helped by the more solid oil and gas values, which increased by an average of 2.5 percent and were the winning industry in Europe. The lmulti BP went up 6.5 percent. Operatively, it went better than feared, according to retailers. “The dividend cut itself was also expected,” said one dealer: “That it is around a halving sounds bad at first, but it was two thirds at Shell”.

Lower outlook burdens Bayer

Despite slightly better business figures, Bayer dropped 2.4 percent. It weighed on the lower annual forecast. Analysts saw a need to revise the consensus estimates. In contrast, Infineon rose 2.5 percent. In particular, sales and the segment result in the third quarter turned out to be stronger than predicted, according to the trade. However, the outlook should have been more important than the business figures, because here the chip company expected the car market to recover. The automotive sector as a whole benefited from the statements and rose by 2.4 percent.

Schaeffler won 1.4 percent. The business figures were not quite as bad as feared, it said. Both sales and adjusted EBIT were reported better.

Operationally, Evonik earns more than expected

Evonik won 2 percent. Traders referred to a positive cash flow and the confirmed outlook. In operational terms, the company had earned more than expected. The outlook for the fourth quarter provided a powerful relief rally for Easyjet. Shares shot up 8.7 percent in London. As part of its interim report, the low-cost airline anticipated that the loss in the fourth quarter would be less than that of the third.

Airport operator Fraport’s share rose slightly by 0.4 percent. According to Berenberg, Fraport’s results for the second quarter of 2020 were slightly above market expectations. Most areas would have performed better than expected, but this is fading in the face of the overall loss. The company now expects an EBIT loss and a net debt of around 5.5 billion euros. According to the analysts, however, the greatest cause for concern is the lack of evidence that passenger numbers in Frankfurt have recovered significantly above the current level.

Diageo fell 5.6 percent. “As with Heineken, it can be seen that the increased need for spirits in the home cannot compensate for the slump in bars and especially in the event business,” said one dealer. The operating profit is therefore clearly below expectations, sales only slightly. The British insurer Direct Line’s business figures were well received on the stock exchange, the share rose 5.3 percent. “Strong earnings, good capital resources and dividends will be made up for,” summarized analysts.

For Teamviewer, the figure was down 8 percent. DZ Bank saw the results as okay, but not as exceptionally good as in the first quarter. The negative price reaction three weeks ago has shown that investors are obviously concerned about the slowdown in growth. In addition, unusually positive news is not to be expected in the short term and the expectation of a possible next placement by Permira should weigh on the share.

The second quarter at Hugo Boss (minus 2.6 percent) was very bad against the background of the store closings as a result of Covid-19, according to Baader Helvea. Sales fell by 59 percent and adjusted EBIT slipped into negative territory.

===

Index Final Development Development Development

stood absolutely in% since

Beginning of the year

Euro-Stoxx-50 3,254.29 +6.01 + 0.2% -13.1%

Stoxx-50 2,972.62 +0.17 + 0.0% -12.7%

Stoxx-600 363.39 -0.25 -0.1% -12.6%

XETRA-DAX 12,600.87 -46.11 -0.4% -4.9%

FTSE-100 London 6,036.00 +3.15 + 0.1% -20.0%

CAC-40 Paris 4,889.52 +13.59 + 0.3% -18.2%

AEX Amsterdam 557.94 +0.21 + 0.0% -7.7%

ATHEX-20 Athens 1,510.87 +31.78 + 2.1% -34.3%

BEL-20 Brussels 3,320.71 -2.28 -0.1% -16.1%

BUX Budapest 34,407.20 -213.05 -0.6% -25.3%

OMXH-25 Helsinki 4,151.03 +5.06 + 0.1% -1.7%

ISE NAT. 30 Istanbul 1,221.30 -38.34 -3.0% -12.0%

OMXC-20 Copenhagen 1,289.08 -15.95 -1.2% + 13.5%

PSI 20 Lisbon 4,347.85 +31.93 + 0.7% -16.0%

IBEX-35 Madrid 7,021.60 +46.60 + 0.7% -26.5%

FTSE-MIB Milan 19,613.95 +234.16 + 1.2% -17.6%

RTS Moscow 1,260.16 +2.74 + 0.2% -18.6%

OBX Oslo 748.65 +5.90 + 0.8% -11.2%

PX Prague 897.77 +5.59 + 0.6% -19.5%

OMXS-30 Stockholm 1,734.25 -12.07 -0.7% -2.1%

TIG-20 Warsaw 1,811.46 +7.08 + 0.4% -15.8%

ATX Vienna 2,193.16 +38.06 + 1.8% -31.3%

SMI Zurich 10,162.04 -67.63 -0.7% -4.3%

Bond market recently absolutely +/- YTD

German Ten-year return -0.56 -0.03 -0.80

US ten-year return 0.51 -0.05 -2.17

CURRENCIES last +/-% Tue, 9:50 a.m.Mon, 5:33 p.m. YTD

EUR / USD 1.1770 + 0.08% 1.1793 1.1739 + 5.0%

EUR / JPY 124.54 -0.11% 124.89 124.65 + 2.2%

EUR / CHF 1.0773 -0.21% 1.0797 1.0811 -0.8%

EUR / GBP 0.9008 + 0.13% 0.9008 0.9000 + 6.4%

USD / JPY 105.80 -0.19% 106.12 106.19 -2.7%

GBP / USD 1.3068 -0.05% 1.3094 1.3044 -1.4%

USD / CNH (offshore) 6.9783 -0.08% 6.9871 6.9829 + 0.2%

Bitcoin

BTC / USD 11,201.51 + 0.36% 11,298.26 11,388.76 + 55.4%

ROHL last VT-Settl. +/-% +/- USD% YTD

WTI / Nymex 41.62 41.01 + 1.5% 0.61 -28.0%

Brent / ICE 44.37 44.15 + 0.5% 0.22 -28.5%

METALLE last day before +/-% +/- USD% YTD

Gold (spot) 1,998.07 1,977.25 + 1.1% +20.82 + 31.7%

Silver (spot) 25.52 24.28 + 5.1% +1.24 + 43.0%

Platinum (spot) 937.23 919.00 + 2.0% +18.23 -2.9%

Copper future 2.88 2.91 -0.9% -0.03 + 2.3%

===

Contact the author: thomas.leppert@wsj.com

DJG / thl / flf

(END) Dow Jones Newswires

August 04, 2020 12:23 ET (16:23 GMT)



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