- European indices halt bullish trend
- TeamViewer shares with nearly 13% plunge
- Allianz raises forecasts for the next three years
Tuesday’s session on the European stock market brings declines in most stock indices. Germany’s DAX is currently losing 0.05%, France’s CAC40 is losing 0.65% at the same time, and the UK’s FTSE100 is adding 0.61%. Investors’ attention is focused on corporate news today, in the absence of major macro data releases.
Sentiment in the European stock market deteriorated slightly from yesterday’s session. A clear rebound is still observed primarily in the stocks of companies in the automotive sector. Fashion and metals, however, are subject to downward pressure today. Source: xStation5
Volatility observed on individual German companies today. Source: Bloomberg Finance L.P.
DE40 (D1 interval)
The DAX has broken out to new historic highs. From a technical point of view, the DE40 seems to be maintaining its overall uptrend, as long as the 100-day curve (purple curve) and the 50-day curve (blue curve) are not broken on high volume, so it is worth looking now to see if the index manages to stay permanently above these zones (technically important support points). If such a scenario were to take place, it could mean an increase in the chances of a general continuation of the upward trend. However, it is worth noting the indications of the RSI indicator, which has gone above the 70 barrier (a textbook overbought level).
Source: xStation5
News
The shares of TeamViewer (TMV.DE) are losing more than 13% in today’s session in the face of the announcement that the company is willing to acquire 1E from Carlyle for $720 million. The company expects the deal to close early next year and a contribution of $10.56 million in 2026 and $26.3 million a year later, said its CEO Oliver Steil.
Allianz (ALV.DE) raised its three-year financial targets after reporting better-than-expected results for the year. The company expects operating profit to increase by three billion euros from an expected 15.5 billion euros this year to 18.5 billion euros in 2027. By 2024, the insurer was targeting an operating profit of between €13.8 billion and €15.8 billion.
- By 2027, Allianz expects earnings per share to increase between 7 and 9% from the current €25 per share, compared to a range of 5-7% projected for the previous three years through 2024.
- It also expects a return on equity of at least 17%, compared to 13% expected in the previous three-year period.
- The company expects annual revenue growth of 6-7% in its non-life insurance division, which could generate an operating profit of 9.5 billion euros by 2027.
- Operating profit in Allianz’s life and health insurance division will reach €6 billion by 2027, while its asset management business is expected to generate a profit of €4 billion by then.
- As a reminder, Allianz said yesterday that it plans to pay out at least three-quarters of its net income to shareholders through dividends and share buybacks over the next three years.
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