Markets

Weekly outlook: DAX starts without Dow. Ifo, oil and Lufthansa in the spotlight!

Yields rose slightly on the bond market on a weekly comparison. The yield on 10-year federal bonds rose to minus 0.49 percent (previous week: -0.53 percent) and the yield on comparable US securities rose temporarily at 0.744 percent. At the end of the week, however, it was 0.65 percent and thus little changed compared to the previous week. Precious metals were in a narrow range in the past trading days. Gold prices were around $ 1,730 and silver was above $ 17. Oil continued the upward trend last week. However, the price for a barrel of Brent Crude on Friday was significantly down. Speculation about a new oil dispute between Russia and Saudi Arabia in the run-up to the upcoming OPEC + meeting in June is weighing on.

Focus on companies

The upward movement at DAX® & Co. was carried by a large majority of the companies. With Beiersdorf and the Deutsche Telekom there were only two losers on a weekly basis. Six DAX® stocks even increased in double digits compared to the previous week. That included Daimler, Deutsche Bank and MTU Aero Engines. A similar picture emerged in the second row. The two steel stocks were among the top performers of the week Salzgitter and ThyssenKrupp. The sector was boosted by speculation that ThyssenKrupp is examining various options for its steel division. Even a merger with Salzgitter seems conceivable.

In the US, semiconductor stocks such as Intel and Texas Instruments such as Facebook the biggest winners on a weekly basis. Facebook is planning its own platform for online shops. Apple meanwhile approached the all-time high.

Aareal Bank, Bechtle, Dürr, E.On, Fraport, Freenet, Hugo Boss, Knorr Bremse, Merck, Morphosys, Nordex and Team viewer invite you to the virtual general meeting next week.

The ASCO conference will also take place next week. This is one of the most important conferences oncology. Numerous companies will present study results. So the biotechnology and pharmaceuticals sector will be in focus next week. A decision on state aid could also be made next week Lufthansa queue.

Important appointments

The US stock exchanges will be closed on Monday due to public holidays

  • Germany – GDP Q1, detailed result
  • Germany – Ifo Index
  • Germany – consumer price index
  • Europe – economic confidence
  • Germany – GfK consumer confidence index
  • USA – consumer confidence
  • USA – Fed publishes Beige Book
  • USA – GDP Q1, second estimate
  • USA – Initial jobless claims
  • USA – Durable Goods Orders
  • USA – Purchasing Managers’ Index

Chart technical outlook

Resistance marks: 11.210 / 11.270 / 11.740 points

Support marks: 10,750 / 10,880 / 11,000 / 11,055 / 11,100 / 11,160 points

Despite the significant weekly gain, the DAX® showed weaknesses in the second half of the week and forms a downward trend in the short term. The index finds important support at around 11,000 points. As long as this mark holds, there is a chance of a recovery up to 11,210 / 11,270 points. If the index dips below 11,000 points, there is a risk of consolidation to 10,880 points.

DAX® in points; Hourly chart (1 candle = 1 hour)

Viewing period: 05.05.2020 – 22.05.2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

DAX® in points; Weekly chart (1 candle = 1 week)

Observation period: May 23, 2014 – May 22, 2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

Discount call warrants on the DAX®

UnderlyingWKNSales price in eurosBase price in Pts.Cap in pointsFinaler Valuation day
DAX®HX6B4X3.36 *10,70011,200June 16, 2020
DAX®HX6B4V3.66 *10,50011,000June 16, 2020

* max repayment 5 euros. Source: HypoVereinsbank onemarkets; As of May 22, 2020; 5:32 p.m.

Discount put warrants on the DAX®

UnderlyingWKNSales price in eurosBase price in Pts.Cap in pointsFinaler Valuation day
DAX®HX6B2J3.55 *11,80011,300June 16, 2020
DAX®HX6B2F2.67 *11,50011,000June 16, 2020

* max repayment 5 euros. Source: HypoVereinsbank onemarkets; As of May 22, 2020; 17:33 Clock

You can find information on how discount warrants and numerous other products work here at onemarkets knowledge.

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