Markets

Daily outlook for 23.10 .: DAX situation remains unstable. Adidas and ProSiebenSat.1 jump to the top!

The developments on the stock exchanges today were marked by great fluctuations. For days now, corporate figures, the number of infections, the Brexit negotiations and the discussion about another US economic stimulus plan have been a source of concern. Overall, expectations are quite high. Market participants react accordingly sensitively when disappointment emerges. By the end of trading, however, a large part of the daily losses had been made up again. The DAX® closed 0.16 percent lighter at 12,530 points and the EuroStoxx®50 0.3 percent down at 3,170 points. Nevertheless, the situation remains tense.

Yields continued to rise on the bond market. The yield on 10-year Bunds improved to -0.58 percent and the yield on comparable US bonds to 0.82 percent. The stronger US dollar put precious metals under some pressure today. The gold price fell below the mark of 1,900 US dollars and the silver price to 24.50 US dollars per troy ounce. The oil price has recovered somewhat from yesterday’s lows. The increased inventories could, however, slow down the upward trend somewhat. The price for a barrel of Brent Crude Oil remained in the range of 41.40 / 43.50 US dollars.

Company in focus

The share of Adidas was fueled by speculation about a sale of Reebok. Continental presented preliminary figures today. Accordingly, the automotive supplier drove deep into the red and tightened the austerity course. The share went into reverse today and sank to around EUR 100. Hugo Boss bottomed around EUR 22 and is now suggesting a recovery. The German Lufthansa fought back to the EUR 8 mark today. ProSiebenSat.1 sold the health subsidiary Windstar to the financial investor Oakley. Investors acknowledged this step with a price increase of 1.5 percent. Will the rebound come to EUR 12? Zalando received support from positive analyst comments today. Rational tested an important support level today at EUR 690. If it tips under, there is a risk of a major setback. At Varta the contract with CEO Herbert Schein was extended. Nevertheless, the paper collapsed sharply today.

From Europe report tomorrow among other things ABB, Ceconomy, Daimler and Renault Business figures for the past quarter. In the US stand among other things American Express and their business figures in focus.

Important appointments

  • Germany – Markit Purchasing Managers’ Index Germany (industry, service, composite) for October
  • Europe – Markit purchasing managers’ index Euro zone (industry, service, composite) for October

Chart technical outlook

Resistance marks: 12,575 / 12,670 / 12,800 points

Support marks: 12,360 / 12,460 points

The DAX® opened with a downward gap and temporarily fell to 12,350 points. In the course of the day, however, the index recovered and closed around the daily high at 12,550 points. On the downside, the index has formed a support zone between 12,360 and 12,460 points. However, a short-term recovery does not appear before 12,575 points at the earliest.

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

Observation period: 24.09.2020 – 22.10.2020. 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 23, 2013 – October 22, 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®HR1JQ44.8611,20014,00001/21/2021
DAX®HR03N75.0012,00015,100December 17, 2020

Source: HypoVereinsbank onemarkets; Status: 10/22/2020; 5:39 pm

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