Outlook for December 3rd: DAX continues without esprit. Nordex, Zalando and index review in focus! – columns
Wednesday,
02.12.2020
17:50
from onemarkets blog
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Today, the majority of the stock markets had to give up. According to the ADP report, US firms have created fewer jobs than expected. In addition, the strong euro is holding back the profit development of European companies. That hit the mood. The DAX® lost around 0.6 percent to 13,300 points and the EuroStoxx®50 0.3 percent to 3,510 points. Tomorrow is a slew of economic data from China and the US that could potentially bolster the bull.
After yesterday’s setback, calm returned to the bond market. The yield on 10-year Bunds stagnated at minus 0.52 percent. There was again a greater movement on the precious metals market. The price of gold rose and at times crossed the $ 1,830 mark. Platinum even cracked the $ 1,000 mark. After two weaker days, the oil price also rose slightly. The disagreement among the OPEC + countries on the subsidy cuts is currently slowing the bulls down. However, these days special attention is being paid to the euro / dollar. The exchange rate passed the $ 1.20 mark yesterday evening, its highest level since May 2018.
Company in focus
Great Britain granted the corona vaccine from BioNTech / Pfizer admission. Delivery is to begin in a few days. The EU wants to decide on approval by December 29, 2020 at the latest. Bayer wants to reorganize cell and gene therapy with the acquired AskBio. “Cell and gene therapies are among the most innovative approaches in health care,” said Pharma CEO Stefan Oelrich. “Our goal is to be at the forefront of this revolution in science. However, the paper could not benefit from the news today. Rather, the share lost over two percent today. Nordex lost significantly after the wind turbine manufacturer announced a capital increase. Siemens Energy receives funding for hydrogen production in Chile. Nevertheless, the paper lost easily today. Zalando reported more than a million new customers in Cyber Week. The share stagnated today at EUR 82.
Tomorrow the DAX® indices will be reviewed by Deutsche Börse. In the past few days there has been constant speculation about whether Siemens Energy could replace the shares of Grenke in the MDAX®.
Important appointments
- China – Caixin PMI Services for China, November
- Germany – Markit Services and Composite Purchasing Managers’ Index Germany for November
- Germany – VDMA, incoming orders for October
- Europe – Markit Services and Composite Euro-Zone Purchasing Managers’ Index November
- Europe – Euro Zone Retail Sales, October
- United States – Initial jobless claims for the week ending November 28th
- USA – ISM Purchasing Managers’ Index Services, November
Chart technical outlook
Resistance marks: 13,350 / 13,440 / 13,460 points
Support marks: 13,150 / 13,230 / 13,290 points
The DAX® opened with a downward gap and temporarily plunged down to 13,280 points. By the end of trading, the index distanced itself from the daily low and pushed up to the downtrend line. There will probably only be greater buying impulses above 13,350 points. Until then, there is a risk of falling back below the support level of 13,290 points and consolidation to 13,230 points.
DAX® in points; Hourly chart (1 candle = 1 hour)
Observation period: 11/11/2020 – 02/12/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: 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 | 8.36 | 12,900 | March 16, 2021 |
| DAX® index | HR1PRA | 7.11 | 13,450 | June 15, 2021 |
Source: HypoVereinsbank onemarkets; 12/02/2020; 5:34 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 | 5.89 | 13,300 | March 16, 2021 |
| DAX® index | HR1PRG | 6.67 | 12,900 | June 15, 2021 |
Source: HypoVereinsbank onemarkets; 12/02/2020; 5:35 pm
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The daily outlook for December 3rd: DAX continues without esprit. Nordex, Zalando and index review in focus! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pfadenhauer
http://blog.onemarkets.de
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