European stock markets continued their New Year rally into the second trading day of the week. The STOXX 600 index is up 0.20% to 603 points, after setting a new record high on Monday. Broader risk appetite remained intact despite geopolitical tensions surrounding Venezuela, supported by broad-based gains in Asia — particularly among Chinese technology stocks. Capital continues to rotate toward markets perceived as more attractive in terms of valuation and growth prospects.
Market attention is currently focused on the potential repercussions of the weekend events in Venezuela as well as on upcoming US macroeconomic data — this week brings key US labor-market releases, including ADP and NFP. The US dollar stabilized after yesterday’s pullback triggered by weak US manufacturing PMI data, while euro-area bond yields declined following mixed inflation readings from France and Germany.
DAX (D1 interval)
The German index is up 0.40% today and has decisively broken above the 25,000-point level. As a result, DE40 has moved out of the previous consolidation range to the upside — a range that persisted for more than eight months.
Company news
- InPost gained more than 10% after confirming that it had received a non-binding proposal to acquire all outstanding shares; the company noted, however, that there is no certainty the talks will result in a transaction.
- Novo Nordisk is up over 5% after launching sales of the oral version of its Wegovy weight-loss drug in the United States, extending the strong gains from the previous session.
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