Markets

Daily outlook for October 2nd: DAX weaker. Bayer breaks in!

There is still no clear trend discernible on the stock markets. This development could possibly continue for the next few days. At the end of the third quarter, the focus is increasingly on the business figures. Two European blue chips already signaled what investors can expect. In the case of the DAX®, the message caused a minus of 0.3 percent to 12,720 points. The EuroStoxx®50 meanwhile stood on the spot with 3,190 points. Tomorrow there will be a lot of economic data from the USA that could give the markets a boost.

Bond yields remained calm. The yield on 10-year Bunds closed at -0.52 percent and the yield on comparable US bonds at 0.69 percent. The recovery in precious metals continued today. Gold surged above $ 1,900 and palladium was up 1.4 percent to $ 2,335. Oil continued to be weighed down by the prospect of weak demand and relatively high production. The quotation for a barrel of Brent Crude Oil lost around 4.6 percent to $ 40.3 over the course of the day.

Company in focus

Bayer broke in double digits today after a profit warning. The airbus and Deutsche Telekom benefited from positive analyst comments. Further buying impulses could follow for the T-Share above EUR 14.50. K + S continues the recovery course and scratched the EUR 6 mark. The approval process for the discharge of saline wastewater in Werra and Weser is now entering its final phase. Nordex was boosted by orders from Turkey and crossed the 10- and 20-day averages. SAP plans to take over customer loyalty software provider Emarsys. Investors reacted unimpressed and stagnated above the EUR 130 mark. STMicroelectronics has raised the outlook and thus stocks from across the sector like Aixtron, Infineon and Siltronic inspired. Zalando marked a new all-time high and cracked the 80 euro mark. In the USA, among other things, the shares of AMD, Booking.com and Tesla with significant markups in the trade.

Important appointments

  • USA – Industrial orders, August
  • USA Labor Market Report, September
  • USA – Uni Michigan Consumer Confidence, September

Chart technical outlook

Resistance marks: 12,900 / 13,060 points

Support marks: 12,420 / 12,600 / 12,700 points

The DAX® was a little weaker today during the day. The index was initially able to defend the support level of 12,700 points. The technical picture has hardly changed in the past few days. The DAX is currently caught in the range of 12,700 to 12,900 points. Significant movements can only be expected outside of this range.

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

Observation period: 25.08.2020 – 01.10.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

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

Observation period: October 2nd, 2013 – October 1st, 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 Pt.Upper knock-out barrier in pt.Final Valuation day
DAX®HR03H46.4511,80016,60011/19/2020
DAX®HR03N74.5112,00015,100December 17, 2020

Source: HypoVereinsbank onemarkets; Status: October 1st, 2020; 5:40 pm

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Please note the important information and the disclaimer.

This information does not constitute investment advice, but advertising. The public offer is made exclusively on the basis of a securities prospectus approved by the Federal Financial Supervisory Authority (“BaFin”). Approval of the prospectus is not to be understood as a recommendation to purchase these UniCredit Bank AG securities. Only the prospectus including any supplements is relevant and the Final Terms. It is recommended that you read these documents carefully before making any investment decision in order to fully understand the potential risks and rewards of investing. You are about to acquire a product that is not easy and can be difficult to understand.

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