European equities split the research community today: bullish on earnings, bearish on US inflation spillover.
On the constructive side, some recently-published views highlight a DAX rebound after several weak sessions, with the index reclaiming 24,000 and holding gains into the afternoon. Researchers point to strong earnings from Merck, E.ON, Deutsche Telekom, and Allianz as the engine. Siemens draws particular attention — a new €6 billion buyback over five years, a strong software business, and solid order intake are all framed as bullish catalysts. Analysts also flag SFC Energy after the largest order in its history and a guidance raise drove an immediate 6% pop, with room for further momentum if it sticks.
A contrarian thread of recent research pushes back: hotter US inflation data has triggered risk-off sentiment, and one camp warns those pressures will feed into rates and earnings expectations, driving rotation into defensives and further downside for European stocks.
Same tactical horizon, opposite calls — a genuine disagreement on direction.