At the start of the new trading week, the stock markets came under considerable pressure. A potpourri of uncertainty factors gave the bears wings today. The increasing number of newly infected people is fueling fears of renewed restrictions. Disappointment with last week’s decisions by the US Fed still lingered and US tech stocks – the drivers of the recent rally – show significant weaknesses. This left clear traces on the DAX® and EuroStoxx®50 today. The DAX® lost more than four percent to 12,570 points and the EuroStoxx®50 3.7 percent to 3,160 points.
Shifts from the equity to the bond market made themselves felt on the bond market. The yield on 10-year Bunds lost 5 points to -0.55 percent. The yield on 10-year US paper to 0.65 percent. Profit-taking also left its mark on precious metals. Gold fell to $ 1,890. Platinum even lost 6.4 percent to 870 US dollars and the troy ounce 8 percent to 24.50 US dollars. There were also negative signs on the oil market. Last week the prospect of an extraordinary OPEC + state meeting boosted the price of the black gold. Today the bad mood in the financial markets caught up with the oil market. The price for a barrel of Brent Crude Oil lost almost four percent and closed in the area of the daily low at 41.50 US dollars.
Company in focus
Discussions about stronger CO2 climate targets are putting auto and automotive suppliers under further pressure today. Daimler lost around four percent and BMW and VW (Vz.) even over five percent. As expected, the German Lufthansa reduce the fleet significantly than initially announced. The share fell 9.5 percent today and back below the EUR 8 mark. 1 × 1 drill and United Internet lost over 23 percent after the profit warning.
Tomorrow the Supervisory Board of will meet again German Lufthansa and continues to advise on the strategy against the Corona crisis. The Berenberg & Goldman Sachs German Corporate Conference also takes place instead of. 172 companies will present themselves virtually there and possibly provide information on the current quarter. Tesla invites you to the general meeting
- Europe – Euro Zone Consumer Confidence
Chart technical outlook
Resistance marks: 12,750 / 12,815 / 13,050 points
Support marks: 12,060 / 12,340 points
The DAX® fell sharply at the beginning of the week and only stabilized in the area of 12,550 points. After today’s sell-off, the market is oversold in the short term. However, there are signs of recovery at the earliest above the 12,750 point mark. On the downside, the index finds support at 12,340 points.
DAX® in points; Daily chart (1 candle = 1 day)
Observation period: April 7th, 2020 – September 21st, 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: 09/22/2014 – 09/21/2020. 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 Point||Upper knock-out barrier in pt.||Final Valuation day|
|DAX®||HR03FZ||6.70||11,600||14,000||October 15, 2020|
|DAX®||HZ22T6||7.89||11,000||13,800||October 15, 2020|
Source: HypoVereinsbank onemarkets; As of: 09/21/2020; 5:47 pm
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