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Daily outlook for December 2nd: DAX directionless. Munich Re and ThyssenKrupp firmer! – columns

Tuesday,
December 01, 2020
17:52

from onemarkets blog

| Views: 203

The majority of the stock markets started trading in a friendly manner. In the further course, however, part of the profits crumbled again. The focus of many investors this day is on the Brexit negotiations. So there are increasing signs that there could be a deal soon. However, given the recent rally, investors are currently holding back with new commitments. The DAX® closed 0.75 percent higher at just under 13,400 points and the EuroStoxx®50 around one percent higher at 3,525 points. The S & P®500 hit a new all-time high shortly after the start of trading.

There was a rebound on the bond and commodity markets today. The yields on 10-year German government bonds improved by four points to minus 0.526 percent. For comparable US papers, the yield rose by eight points to 0.92 percent. Many investors also used the recent gold and silver sale to get started. The gold price then rose by over 30 US dollars to around 1,810 US dollars and silver posted a price increase of over four percent to 23.50 US dollars. It remains to be seen whether the trend reversal is sustainable. In the case of gold, the hurdle at 1,840 US dollars has to be overcome. At first the air is out of the oil market. The price of a barrel of Brent crude oil hovered around $ 47 today.

Company in focus

BioNTech and Pfizer filed for EU approval of the corona vaccine. Approval is possibly expected this year. Moderna applied for their vaccine in both the US and the EU. The biotechnology stocks then shot up significantly. Munich Re wants to increase profits to 2.8 billion euros in the coming year. The news went down well with investors. Also in demand today were car values ​​like BMW and VW as well as suppliers like Continental. Today Nikolai Setzer took over the executive chair at Continental. The share of German Lufthansa got a negative analyst assessment today. Nevertheless, the paper improved to just under 10 euros. ThyssenKrupp resumed the upward trend today and knocked on the 6 euro mark.

Important appointments

  • Germany – Publication of labor market data for November
  • USA – ADP Labor Market Report
  • USA – Beige Book

Chart technical outlook

Resistance marks: 13,440 / 13,460 points

Support marks: 13,050 / 13,150 / 13,230 / 13,340 / 13,385 points

The DAX® started the trading day in a friendly manner. The good mood on Wall Street, however, did not jump out. Rather, the index plunged back below 13,400 points by the end of trading. The index is currently supported in the area of ​​13,385 points. If the index falls below the mark, there is a risk of falling back to 13,340 points. The lid is currently on the top at 13,440 / 13,460 points.

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

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Observation period: 11/10/2020 – 12/01/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

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

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Observation period: December 2nd, 2013 – December 1st, 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 8.90 12,900 March 16, 2021
DAX® index HR1PRA 7.62 13,450 June 15, 2021
Source: HypoVereinsbank onemarkets; December 01, 2020; 5:40 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 5.58 13,300 March 16, 2021
DAX® index HR1PRG 6.40 12,900 June 15, 2021

Source: HypoVereinsbank onemarkets; December 01, 2020; 5:41 pm

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The daily outlook for December 2nd: DAX directionless. Munich Re and ThyssenKrupp firmer! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

In the onemarkets blog, experts from HypoVereinsbank onemarkets and technical analysts from GodmodeTrader will tell you what will move the markets before the stock market starts. During the day, the editors keep an eye on the DAX, Dow & Co. for you and show you how you can benefit from the ups and downs with leverage products.
http://blog.onemarkets.de

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