The stock markets recovered slightly after yesterday’s dampening. There was support from both the USA and the Ifo Institute. Similar to what was recently reported from the USA, according to the Ifo Institute, the recession in Germany is likely to be milder than was expected a few months ago. However, yesterday’s concerns could not be completely shaken off. The DAX® improved by 0.8 percent to 12,640 points and the EuroStoxx® 50 by 0.5 percent to 3,175 points over the course of the day
The bond market remained calm today. The yield on 10-year Bunds leveled off at -0.51 percent. The yield on 10-year US paper stagnated at 0.69 percent. Precious metals also stabilized today. Gold, palladium, platinum and silver leveled off in the range of yesterday’s closing levels. Gold was thus quoted at around 1,900 US dollars and silver at around 24 US dollars per troy ounce. Oil today made up a large part of yesterday’s losses. At 42 US dollars, barrels of Brent Crude Oil initially stopped recovering.
Company in focus
Infineon and SAP benefited today from the recovery in US tech stocks and Fresenius Medical Care such as VW (Vz.) of positive analyst comments. At ProSiebenSat.1 caused speculation that the major shareholder Mediaset could increase its stake for a significant price gain. Internet service providers were also very popular Delivery Hero, HelloFresh and Shop pharmacy. Norway is funding a major project by HeidelbergCement. Investors then pushed the DAX® group share to EUR 52. The shares of today have again increased infection numbers airbus and German Lufthansa burdened.
Tomorrow will be the Berenberg & Goldman Sachs German Corporate Conference continued. 172 companies will present themselves virtually there and possibly provide information on the current quarter. Traton invites you to the general meeting.
- Germany – Gfk consumer climate index
- Germany – Markit purchasing managers index
- Europe – Markit purchasing managers index
Chart technical outlook
Resistance marks: 12,750 / 12,900 / 13,050 points
Support marks: 12,200 / 12,300 points
After yesterday’s price fall, a few bulls reported today and at times raised the DAX® to 12,700 points. But then they ran out of strength. The index fluctuated between 12,600 and 12,700 points over the course of the day. The sell-off is still in the bones of the actors. The wave of consolidation does not seem to have ended yet. The DAX® initially finds support in the area of 12,600 points. As long as it is not significantly undercut, there is a chance of a technical countermovement up to 12,700 and further down to 12,750 / 12,800 points. If the bulls lose the fight for this support, a setback to 12,200 points threatens.
DAX® in points; 4-hour chart (1 candle = 4 hours)
Observation period: 07/27/2020 – 09/22/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: 23.09.2014 – 22.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
Inline warrants on the DAX®
|Underlying||WKN||Selling price in euros||Lower knock-out barrier in Pt.||Upper knock-out barrier in pt.||Final Valuation day|
|DAX®||HR03FZ||7.07||11,600||14,000||October 15, 2020|
|DAX®||HZ22T6||8.39||11,000||13,800||October 15, 2020|
Source: HypoVereinsbank onemarkets; As of: 09/22/2020; 5:47 pm
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The daily outlook for 23.09 .: DAX recovered only slightly. Internet values asked! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pfadenhauer
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