Markets

Daily outlook for October 9th: DAX rises above 13,000 points. Lufthansa and semiconductors in focus!

Good company news and a number of positive analyst comments stimulated the stock markets today. In addition, there is increasing hope for another US economic stimulus package. The DAX® managed to break above the 13,000 point mark. The EuroStoxx®50 gained just under one percent and closed at 3,260 points. The number of initial jobless claims in the United States was slightly higher than experts expected. However, this could not dampen the good mood. Among the sector stocks, the European Biotech Index and the Global Hydrogen Index again showed strength.

The increased number of new infections has again unsettled some investors today and caused bond prices to rise. This caused a slight decline in yields. The yield on 10-year Bunds fell by almost three points to -0.52 percent and the yield on comparable US bonds to 0.77 percent. Meanwhile, the precious metal market remained calm. The gold price stagnated above the $ 1,880 mark and silver just below $ 24 per troy ounce. Meanwhile, palladium is showing strength and is targeting the US $ 2,400 mark. After yesterday’s setback, the oil price resumed its short-term upward trend today. OPEC stated that the cartel expects an increase in demand in the medium to long term. If the price breaks above EUR 43.30, the price of a barrel of Brent Crude could start a sustained upward trend.

Company in focus

BASF, HeidelbergCement and MTU Aero Engines benefited from positive analyst comments and moved to the top of the DAX®. Bayer was able to stabilize further after the recent earthquake and forms a floor above EUR 45. The German Lufthansa received support from the good mood in the sector and passed the EUR 8 mark. Evotec partners with Bristol Myers Squibb on the development of an Alzheimer’s drug. The report stimulated the MDAX® value. However, there were no big leaps. Semiconductors were in demand again today. Infineon reached its highest level since September 2001. RWE supports the NRW lead decision to phase out coal. Shop pharmacy has prematurely exchanged a large part of a convertible bond for its own shares. The stock came under significant pressure today.

IBM has achieved the goals set for Q3. Investors acknowledged the key data with a significant price increase.

Important appointments

  • China – Caixin PMI Services for China, September,
  • France – industrial production, August

Chart technical outlook

Resistance marks: 13,100 / 13,250 points

Support marks: 12,700 / 12,800 / 12,900 / 13,000 points

The DAX® opened with an upward gap and temporarily climbed to 13,100 points over the course of the day. At the close of trading, however, the index fell slightly. The upward trend remains intact for the time being: On the downside, the index finds support between 12,960 and 13,010 points. As long as it is not violated, there is a chance that the trend will continue up to 13,250 points. The bears should take the scepter at the earliest below 12,960 points.

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

Observation period: 21.09.2020 – 08.10.2020. 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 9, 2013 – October 8, 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®HR03H48.1611,80016,60011/19/2020
DAX®HR03N76.9112,00015,100December 17, 2020

Source: HypoVereinsbank onemarkets; As of: October 8th, 2020; 5:43 pm

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