Tagesausblick 16/06/2017

16. Juni 2017

Guten Morgen from Frankfurt!

*DAX indication +0.3%

*BUND future slightly lower; 10yr yield  at 0.292%

*EURO – flat vs yday afternoon; EURO tested 1.13 level lat Wed, June 14th, since then dropping, at 1.1145

*CARS  – European car sales +7.7% in May  => slightly positive

*VOLKSWAGEN +0.7% pre-mkt today official launch of new Polo  => seems 130 EUR level is support and level to rebound after 10% drop in June   => ongoing negative sentiment due to diesel scandal; More recalls for AUDI, Porsche now in focus (since last week)

*PFEIFFER VACUUM  flat pre-mkt  WIWO reports BAFIN to assess shr purchase by Busch  => ongoing takeover attempt by Busch (110EUR bid)

*INNOGY +0.3% pre-mkt  BZ reports Innogy CFO sees UK market situation difficult, also problems with NPower, aim to cut costs and restructure   => slightly negative; but just UK market difficult

*ADIDAS +0.2% pre-mkt peer NIKE yday -3% broker downgrade; Nike said yday to cut costs and slash 1,400 jobs   => is this the end of the uptrend? or ADIDAS continues to benefit and strengthen position vs NIKE?   => ADS probably ongoing positive sentiment, but recently ADS stock struggled, clearly some profit taking, past days failed to trade above 50day ma line (176.69)

*SHW AG flat pre-mkt  yday huge rallye due to KTM CEO Pierer; voluntgary takeover offer 35EUR/share from Pierer (owns 64% in KTM Industries)   => ongoing consolidation, take a look at KTMI SW stock

*ROCKET INTERNET flat pre-mkt  ongoing neg. sentiment due to DELIVERY HERO IPO; BZ article re loss making DELIVERY HERO; high marketing costs to realize 80% sales increase from 2015 – 2016; still loss making  => negative, after RKET stock rebounded to 22EUR level on successful exit in 2017 RKET stock tanking as DELIVERY HERO IPO not as successful as hoped; first marketing meetings behind company; look at peer takeaways.com; also some “competition” with current VAPIANO IPO

*GERRY WEBER  +2% pre-mkt  HB highlights GERRY WEBER today, CEO Ralf Weber, small article about current situation, ongoing restructuring and cost cutting meassures; tomorrow GERRY WEBER Open start   => positive, positive written article about faimly run biz GERRY WEBER   => buying opportunity after recent weakness (earlier this weak slightly negative Q2 caused selling)



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