Markets

Daily outlook for September 18: DAX continues sideways. Lufthansa and oil in view!

The US interest rate decision was unable to provide any decisive impetus yesterday. Rather, disappointment spread. Weak targets ultimately led to significant losses in Europe at the start of trading. In the course of the day, the DAX® and EuroStoxx®50 were able to contain the losses. Nevertheless, the DAX® closed 0.36 percent lower at 13,208 points and the EuroStoxx®50 0.67 percent below the previous day’s close at 3,315 points. The US barometers were also weaker in the first few hours of trading.

There was once again little movement in the bond market today. The yield on 10-year Bunds stagnated at -0.497 percent and the yield on comparable US bonds was 0.67 percent. Most of the precious metals suffered losses. The price of gold plunged below the $ 1,950 mark. In the case of platinum and palladium, the losses totaled over three percent each. Oil, on the other hand, remained firm. OPEC + announced that an extraordinary meeting may take place in October if the oil price continues to weaken.

Company in focus

Delivery Hero expands in South America. The planned acquisitions were well received by investors today. The DAX® newcomer gained around 2.8 percent. In July and August, fewer cars were sold in Europe than in the same month last year. The price drops in auto stocks BMW, Daimler and VW However, they were limited. Fresenius was again one of the strongest stocks in the DAX® today and broke the resistance level of EUR 40. Despite a positive analyst comment, the stock lost from Munich Re clear. The hurricanes are currently raging in the Gulf of Mexico.

In the second row fell among other things Carl Zeiss Meditec, Fraport and Lufthansa due to high rate premiums. The airline is currently speculating about more drastic cuts in the fleet and Fraport benefited from positive analyst comments. BioNTech acquires manufacturing facilities from Novartis to manufacture Covid-19 vaccine. Last week the biotechnology company announced that it had secured production capacities at Dermapharm.

Published tomorrow Rocket Internet Last quarter data.

Important appointments

  • USA – leading indicators
  • USA – Uni Michigan Consumer Confidence

Chart technical outlook

Resistance marks: 13,320 / 13,440 points

Support marks: 13,000 / 13,060 / 13,150 points

After a weak start, the DAX® temporarily touched the 38.2% retracement line. However, during the day the index gained ground and managed to return above the 13,200 mark. The sideways trend thus continued. A sustained upward or downward trend becomes apparent at the earliest when the 13,060 / 13,320 point range breaks.

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

Observation period: 02.09.2020 – 17.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

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

Observation period: September 18, 2013 – September 17, 2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

Inline warrants on the DAX®

Underlying WKN Sales price in euros Lower knock-out barrier in Pt. Upper knock-out barrier in pt. Final Valuation day
DAX® HR03FZ 7.09 11,600 14,000 October 15, 2020
DAX® HZ22T6 5.78 11,000 13,800 October 15, 2020

Source: HypoVereinsbank onemarkets; Status: 17.09.2020; 5:40 pm

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