Markets

Daily outlook for November 12th: DAX firmer again. Strong demand for Bechtle, BMW and real estate shares!

The stock markets continued their upward trend today. However, Wall Street did not provide any new impetus, so that the local markets visibly ran out of steam in the second half of the day. The DAX® closed up around 0.6 percent at 13 230 points and the EuroStoxx®50 0.9 percent higher at 3 470 points. There is a range of economic data and company results due for release tomorrow.

The European bond market began to consolidate today. The yield on 10-year Bunds fell by three points from -0.51 percent. In the US, government bonds continued their downward slide. The yield on 10-year US paper rose to 0.97 percent – the highest level since March 2020. The precious metals remain under selling pressure. Gold was able to defend the US $ 1,860 mark. The bears stay tuned, however. The price of palladium fell particularly sharply today. In the past few days, the precious metal was able to resist the general trend. Today the bulls could no longer withstand the pressure of the bears. Palladium lost around 5 percent to 2,340 US dollars per troy ounce. Oil continued the uptrend. The price of a barrel of Brent Crude oil cracked the October high of 43.50 US dollars and is now heading for the September high of 46 US dollars.

Bechtle has raised the forecast for the current year. Investors acknowledged this with a double-digit plus. BMW stepped on the gas today and confirmed the breakout above the February high. The catalyst was, among other things, the presentation of the new SUV iX. The automotive supplier Continental expects a significant decline in sales and lower margins in 2020. The share was still stable today above the October high. Real estate stocks like German living and Vonovia. Both stocks came under heavy pressure in the past two trading days due to the sharp rise in yields on the bond market. Today there was the counter-movement. Deutsche Telekom and RWE were clearly stronger in the run-up to the announcement of the figures. Schaffler benefited from positive analyst comments and rose double digits.

Tomorrow, among other things, report from Europe Aareal Bank, Bilfinger, Burberry, Cancom, Deutsche Euroshop, Deutsche Telekom, Evotec, Fielmann, Port of Hamburg, K + S, Krones, Merck, RWE, RTL, Siemens, Sixt, SMA Solar, Ströer and Varta Business figures for the past quarter. Publish in USA Applied Materials Cisco Systems and Walt Disney Numbers.

Chart technical outlook

Resistance marks: 13,310 / 13,460 points

Support marks: 12,670 / 12,810 / 12,960 / 13,160 points

After fluctuations at the start of trading, the DAX® improved to 13,230 points over the course of the day. The index continued to hover at this level in the afternoon. This means that the upward trend remains intact. The next hurdle is still 13,310 points. On the downside, the DAX® finds support at 13,160 points. When going back below this mark must be with a consolidation to 12,960 / 13,000 points.

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

Observation period: 17.09.2020 – 11.11.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

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

Observation period: 11/11/2013 – 10/11/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

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Call warrants on DAX® Index for speculation on an increase in the index

Underlying WKN Selling price in EUR Base price / knock-out in pts. last valuation day
DAX® index HR1PQW 8.46 12,900 March 16, 2021
DAX® index HR1PRA 7.25 13,450 June 15, 2021
Source: HypoVereinsbank onemarkets; 11/11/2020; 5:37 pm

Put warrants on DAX® Index for speculation on a price loss of the index

Underlying WKN Selling price in EUR Base price / knock-out in pts. last valuation day
DAX® index HR1PQZ 7.08 13,300 March 16, 2021
DAX® index HR1PRG 7.49 12,900 June 15, 2021

Source: HypoVereinsbank onemarkets; 11/11/2020; 5:38 pm

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