Good sentiment indicators from Germany and the eurozone made investors happy. Once again, gains in the afternoon crumbled somewhat despite gains on Wall Street. At the close of trading, the DAX® still rose by 2.3 percent (12,540 points) and the EuroStoxx®50 by 1.9 percent (3,302 points). The ifo business climate index will be published tomorrow. The data could give the markets further impetus.
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The bond market remained calm. The yield for 10-year federal bonds is around -0.40 percent. The yield on comparable US stocks stagnated at 0.73 percent. Gold and silver, in particular, were firmer in precious metals. Gold even reached its highest level since 2012. The BANG index with four of the largest gold mining companies in the world approached the all-time high. There are initial efforts to break out of oil. Quotations for WTI and Brent do not really want to significantly exceed the barrier that has been developed for three weeks.
Focus on companies
The most striking industry and strategy indices today included the German rising index and the Global Hydrogen Index. The German Increase Index benefited above all from the good price developments LPKF laser and Ecker & Ziegler. The hydrogen sector was still stimulated by planned EU initiatives. Among the individual values, Bayer, Deutsche Lufthansa, ProSiebenSat.1 and Wirecard attracted attention. At Bayer a comparison is underway in the glyphosate process. The stock reacted with a price increase of six percent. The airline invites you to the Annual General Meeting on Thursday. The key point is the rescue package. Discussions are in progress with the various unions. Given the uncertainty, the stock continued to descend today. The financial investor KKR has the share in ProSiebenSat.1 slightly increased. The share of Wirecard has stabilized in the region of EUR 17 after the turmoil of past trading days.
In the US, the shares of Amazon, Apple and PayPal to the strongest titles. At Apple yesterday started the developer conference. The stock marks a new all-time high.
Aroundtown, Bilfinger, Gerresheimer, Grand City and Rational invite you to the virtual general meeting tomorrow
- Germany – Ifo Business Climate Index
Chart technical outlook
Resistance marks: 12,600 / 12,740 points
Support marks: 12,100 / 12,180 / 12,300 / 12,430 points
The DAX® got off to a good start today and rose to over 12,600 points during the day. There, some investors visibly lost their courage and the index fell slightly. The index is supported in the range of 12,430 points. As long as this mark holds, there is a chance of the upward movement continuing up to 12,600 points and in the further course up to 12,740 points. Below 12,430 points, profit-taking could push the index up to 12,180 points.
DAX® in points; Hourly chart (1 candle = 1 hour)
Viewing period: 03.06.2020 – 23.06.2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: June 23, 2014 – June 22, 2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de
Inline warrants on the DAX®
|Underlying||WKN||Sales price in euros||Lower knock-out barrier in Pts.||Upper knock-out barrier in points||Finaler Valuation day|
Source: HypoVereinsbank onemarkets; As of June 23, 2020; 5:50 p.m.
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The daily outlook contribution for June 24: DAX continues to rise. Bayer, Ifo and Oil in the spotlight! first appeared on onemarket’s blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pfadenhauer