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    UTDI   DE0005089031


Real-time Estimate Tradegate  -  10:28:53 2023-02-02 am EST
22.12 EUR   +3.61%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Europe's STOXX 600 logs best month since July on China, smaller rate hikes cheer

11/30/2022 | 06:04am EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)


Big euro zone inflation drop spurs hopes for smaller ECB hike


Argenx jumps on deal to buy U.S. FDA priority review voucher


STOXX 600 gains 6.8% in November


Telecom Italia falls as govt aide says full takeover a 'fantasy'

Nov 30 (Reuters) -

The STOXX 600 index closed higher on Wednesday and registered its second straight month of gains on hopes of easing COVID curbs in China and after cooler euro zone inflation data bolstered case for smaller rate hikes by the European Central Bank.

The pan-European index rose 0.6% to end November with a 6.8% gain, its best monthly performance since July.

China-exposed luxury stocks were among the biggest boosts to the STOXX 600 on Wednesday, followed by auto and commodity, stocks.

The giant Chinese cities of Guangzhou and Chongqing announced an easing of COVID curbs on Wednesday after a string of protests against the world's toughest coronavirus restrictions. But with record numbers of cases nationwide, there seems little prospect of a major U-turn in "zero-COVID" policy.

"Optimism about China reopening is really starting to filter through," said Giles Coghlan, chief market analyst at HYCM.

Meanwhile, data showed consumer prices in the euro zone grew 10% in November, well below expectations for 10.4% and after a 10.6% increase in October, prompting traders to raise their bets to 57% for a 50 basis point rate hike by the ECB in December.

The report came amid mixed signals from policymakers recently about the pace and path of future increase in borrowing costs.

"Euro zone inflation is following that of the U.S. in making some tentative declines from peak levels. It would be foolish to be complacent about the risks of inflation taking a new leg higher," said David Goebel, associate director of investment strategy, Evelyn Partners.

"Nonetheless, these latest readings will give consumers and investors some hope that the worst of this inflationary episode could be in the rear-view mirror."

The benchmark STOXX 600 has climbed nearly 15% from its September closing lows on hopes that the Federal Reserve will shift to smaller interest rate hike amid signs of cooling U.S. economy.

With the energy crisis seen persisting in Europe, Citigroup expects the euro zone and the UK to slip into recession by the end of this year and forecast contractions of 0.4% and 1.5%, respectively, for the coming year.

Among single stocks, argenx SE jumped 7.1% after the Dutch biopharmaceutical company announced a deal to acquire a U.S. FDA Priority Review Voucher (PRV) for $102 million.

United Internet added 5.4% after UBS upgraded the German telecommunications provider's stock to "buy".

Avanza Bank Holding slid 5.2% after the financial company flagged smaller boost from recent rate hike by the Swedish central bank.

Telecom Italia (TIM) shed 5.2% after Italian cabinet undersecretary Alessio Butti said that the state had no plans to launch a full takeover bid for the former phone monopoly. (Reporting by Susan Mathew and Devik Jain in Bengaluru; Editing by Savio D'Souza, Devika Syamnath and Maju Samuel)

ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ARGENX SE -0.90% 341.5 Real-time Quote.-0.98%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.21% 0.64921 Delayed Quote.1.97%
AVANZA BANK HOLDING AB (PUBL) 5.04% 264.6 Delayed Quote.12.61%
BRITISH POUND / EURO (GBP/EUR) 0.03% 1.12444 Delayed Quote.0.32%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.55% 0.688279 Delayed Quote.0.33%
CITIGROUP INC. 0.69% 52.5199 Delayed Quote.16.10%
INDIAN RUPEE / EURO (INR/EUR) 0.27% 0.011167 Delayed Quote.-0.36%
STOXX EUROPE 600 (EUR) 1.05% 456.96 Delayed Quote.6.64%
STOXX EUROPE 600(EUR)(TR) 1.13% 1056.55 Delayed Quote.6.71%
TELECOM ITALIA S.P.A. 8.44% 0.2841 Delayed Quote.21.13%
UNITED INTERNET AG 3.00% 21.97 Delayed Quote.13.02%
US DOLLAR / EURO (USD/EUR) 0.97% 0.918383 Delayed Quote.-1.46%
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Analyst Recommendations on UNITED INTERNET AG
More recommendations
Sales 2022 5 864 M 6 403 M 6 403 M
Net income 2022 418 M 456 M 456 M
Net Debt 2022 2 304 M 2 516 M 2 516 M
P/E ratio 2022 9,59x
Yield 2022 2,43%
Capitalization 3 986 M 4 352 M 4 352 M
EV / Sales 2022 1,07x
EV / Sales 2023 1,04x
Nbr of Employees 10 307
Free-Float 40,5%
Duration : Period :
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Technical analysis trends UNITED INTERNET AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 17
Last Close Price 21,35 €
Average target price 34,19 €
Spread / Average Target 60,1%
EPS Revisions
Managers and Directors
Ralph Dommermuth Chief Executive Officer
Martin Mildner Group Chief Financial Officer
Philipp von Bismarck Chairman-Supervisory Board
Yasmin Mei-Yee Wei▀ Member-Supervisory Board
Manuel Cubero del Castillo-Olivares Member-Supervisory Board
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