Markets

Daily outlook for September 30th: DAX with slight losses. Covestro and Post strong!

After yesterday’s rally, the stock markets took a breather today. Uncertainty factors such as the tough Brexit negotiations and the corona pandemic slowed down the buying mood. The DAX® lost around 0.35 percent to 12,825 points and the EuroStoxx®50 0.3 percent to 3,215 points. The Solactive Deutscher Maschinenbau Index again demonstrated relative strength. Tomorrow, leading indicators from China and the ADP labor market report from the USA are due for publication.

Bond yields went into reverse. The yield on 10-year Bunds fell to -0.537 percent and the yield on comparable US bonds fell to 0.65 percent. The precious metals started a tentative recovery. The gold price rose above $ 1,880 and silver scratched the $ 24 mark. Oil has given back the gains of the past few days today. This continued the quotation for a barrel of Brent Crude Oil the sideways trend continues. After stabilizing over the past two days, the euro / US dollar rate began to rebound and crossed the 1.17 US dollar mark.

Company in focus

The German postal service wants to invest more in infrastructure and services. To finance this, an increase in business customer prices is being considered. Investors reacted positively and drove the share price towards the all-time high. The shares of Covestro and handle benefited from positive analyst comments. The two internet companies Delivery Hero and HelloFresh were back on the shopping list for many investors. Jenoptik has received a major order from the automotive sector. The share then confirmed yesterday’s breakout of the downward trend. The share of ProSiebenSat.1 rose to its highest level since June 2020. RWE wants to expand marine wind farms in Great Britain. The share then improved to EUR 32. If the breakout above the mark is successful, there is a chance of a further recovery up to EUR 34. A downgrade at Munich Re ensured that yesterday’s profits were given back. ThyssenKrupp plans a split in the automotive sector. The area of ​​”body assembly” will be continued and a sale or partnership will be sought for drive and battery assembly. However, the share cannot break away from its recent low and remained at around EUR 4.30. Total Acquires charging station operator Source London with 1,600 charging stations. The French oil company plans to operate more than 150,000 charging stations by 2025. However, investors were unimpressed. The share fell around one percent.

Drägerwerk and VW invite you to the general meeting.

Important appointments

  • China – China Official Purchasing Managers Indices Industry and Services, September
  • China – Caixin PMI Industry for China, September
  • Germany – Retail Sales, August
  • Europe – Euro zone consumer prices, September
  • France consumer prices, September
  • USA – ADP Labor Market Report, September
  • USA – Q2 GDP final

Chart technical outlook

Resistance marks: 12,900 / 13,060 points

Support marks: 12,420 / 12,600 / 12,810 points

The majority of the DAX® fluctuated between 12,760 and 12,860 points today. At the close of trading, the index was just able to defend the support level of 12,810 points. However, the situation remains fragile. The cops currently lack assertiveness. Thus, setbacks up to 12,600 points should still be planned. On the upside, the next resistance level is at 13,060 points.

DAX® in points; 4-hour chart (1 candle = 4 hours)

Observation period: June 24th, 2020 – September 29th, 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: 09/30/2014 – 09/29/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

Inline warrants on the DAX®

UnderlyingWKNSales price in eurosLower knock-out barrier in PointUpper knock-out barrier in pt.Final Valuation day
DAX®HR03H46.6511,80016,60011/19/2020
DAX®HR03N74.6212,00015,100December 17, 2020

Source: HypoVereinsbank onemarkets; As of: 09/29/2020; 5:33 pm

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The daily outlook for September 30th: DAX with slight losses. Covestro and Post strong! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

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