Stable market situation with outliers in individual stocks

During a calm session at the end of the week, European stock markets largely kept a low profile. Without fresh market stimuli, there were no major fluctuations, while some individual corporate securities noted considerable movements. The benchmark EuroStoxx 50 index posted a modest increase of 0.13 percent, reaching 4,716.90 points. Meanwhile, the French CAC 40 remained at its level, and the FTSE 100 in the UK climbed marginally by 0.14 percent to 7,605.78 units. Capital market expert Jürgen Molnar from brokerage firm RoboMarkets observed an "exceptionally tranquil end to the trading week." He especially pointed out the challenges of the upcoming second half of February, which historically is one of the less profitable stock market phases. Among individual stocks, two French companies captured investors' attention. L'Oreal experienced a notable setback with a decline of 5.7 percent, triggered by an unexpectedly weak demand in North Asia in the final quarter. Analysts like those at Bernstein quantified the downturn as a severe disappointment, primarily attributable to the Chinese market. In contrast, Hermes shone with positive business figures, propelling the stock to new highs. Morgan Stanley's analyst Edouard Aubin highlighted the robust results and impressive growth and pointed out the planned special dividend, which should allow shareholders to participate in the success. In addition to the regular dividend, a bonus of 10 euros per share is intended. Adyen's stock continued to gain, up a further four percent after an already strong previous day. The rise was due to positive analyst comments and raised price targets following the publication of convincing company figures from the Dutch payment service provider. Among the winners was also AMS Osram, whose stock surged by a remarkable 17.8 percent. Despite significant revenue losses in the fourth quarter of 2023, the company met its forecasts, and market observers like Janardan Menon from Jefferies predicted an upward trend for the second half of 2024. In the sector of smaller values, DocMorris also attracted attention. The introduction of electronic prescriptions in Germany has had a positive impact on the online pharmacy, reflected in an increase of nearly five percent. Since November, the stock price has jumped from 35 to over 95 Swiss francs.