Markets

Daily outlook for October 21: DAX in reverse. Lufthansa and ThyssenKrupp asked!

The buying mood on the stock market was again limited. According to various reports, it will be decided tonight whether the US Congress will pass another stimulus package before the election. After the most recent hanging game, the hopes are no longer too high. This means that investors are missing an important impetus to get started and their focus is still on the infection numbers. Despite a positive start on Wall Street, the DAX® posted another loss today. The EuroStoxx®50 can meanwhile defend the previous day’s level.

The situation on the bond market has eased somewhat. The yield on 10-year Bunds rose slightly to -0.60 percent and the yield on comparable US bonds improved to 0.787 percent. The precious metals presented themselves inconsistently. The price of gold stagnated at $ 1,900 today. Palladium and platinum, on the other hand, each gained over one percent to just under US $ 2,400 and US $ 870 per troy ounce. The oil price posted losses today for the fourth straight day. The price of a barrel of Brent crude oil is approaching $ 42. Meanwhile, the euro / US dollar hit a new monthly high. If the breakout is confirmed above the $ 1.183 level, there is a chance of an upside to $ 1.195.

Company in focus

The trading day today was heavily influenced by numbers. As expected, the flew German Lufthansa a billion loss in the past quarter. According to preliminary figures, the operating loss in the current year already amounts to 4.2 billion euros. Investors probably expected worse numbers. The share passed the eight euro mark again. The Munich Re today reported key data for the third fiscal quarter. Accordingly, the corona-related damage and high expenses from natural catastrophes in particular caused a drastic decline in profit. Detailed dates will be available on November 5th. The share was nevertheless able to post a price gain. Sartorius again raised the forecasts for the current financial year. Investors acknowledged this with a premium and a new record high. The Krupp Foundation is open to examining the Liberty Steel offer. The British steel group plans to take over the steel division of ThyssenKrupp. The announcement of the planned purchase already caused a significant price jump on Friday. After yesterday’s consolidation, the paper was again much firmer today

From Europe report tomorrow among other things Akzo Nobel, Ericsson, Nestlé and Software AG Business figures for the past quarter. In the US stand among other things Biogen, Tesla and Verizon and their business figures in focus. The Hannover Re also invites you to the investor day.

Important appointments

  • USA – Fed publishes Beige Book

Chart technical outlook

Resistance marks: 12,980 / 13,060 / 13,165 points

Support marks: 12,630 / 12,730 / 12,800 points

The DAX® fell over the course of the day and only settled in the area of ​​the 38.2% retracement line of 12,750 points. If the index tips below the level, the short-term downward movement threatens to continue up to 12,620 and in the further course even to 12,510 points. The all-clear can only be seen above the 61.8% retracement line of 12,830 points.

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

Observation period: 09/21/2020 – 10/20/2020. 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 21, 2013 – October 20, 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®HR1JQ44.3711,20014,00001/21/2021
DAX®HR03N75.9812,00015,100December 17, 2020

Source: HypoVereinsbank onemarkets; Status: October 20, 2020; 5:42 pm

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The article Daily Outlook for October 21: DAX in reverse. Lufthansa and ThyssenKrupp asked! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

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