Outlook for December 11th: ECB does not hand out gifts. BASF, ThyssenKrupp in great demand! – columns
Thursday,
December 10, 2020
21:34
from onemarkets blog
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The European Central Bank did not bring any Christmas presents for investors. The emergency purchase program for government bonds and securities of companies is being expanded and the ECB chief announced further interest rate cuts. However, market participants had expected more. The DAX® fell by 250 points at times. By the end of trading, however, the index made up a large part of the losses.
On the bond market today, the announcement of the ECB interest rate decision showed clear swings in the short term. At close of trading, however, long-term bond yields hovered around yesterday’s closing level. The precious metals were again unstable today. After yesterday’s setback, gold initially recovered at $ 1,835. Silver dipped below $ 24. The price for a barrel of Brent Crude Oil has meanwhile cracked the 50 US dollar mark.
Company in focus
alliance came under slight pressure after a negative analyst comment and is currently testing the support level at EUR 193.60. BASF rose to its highest level since January 2020, helped by the firmer oil price. BioNTech was the target of a hacking attack. Nevertheless, the biotech company’s share started trading at a premium. HeidelbergCement and Siemens Healthineers each benefited from positive analyst comments. HelloFresh has again raised the forecast. Investors acknowledged this with a strong price premium. Infineon was after yesterday’s forecast revision of the competitor STMicroelectronics over two percent. ThyssenKrupp continued the upward trend of the past few days and is approaching the EUR 7 mark. TUI sets the red pencil after billions lost. The booking business has recently recovered somewhat and the corona vaccines are fueling hope for summer business. However, support measures are still being negotiated.
Carl Zeiss Meditec will present business figures and tomorrow Fraport presents traffic figures for November.
Important appointments
- Germany – consumer price index and harmonized consumer price index November,
- USA – Uni Michigan Consumer Confidence, December
Chart technical outlook
Resistance marks: 13,420 / 13,460 points
Support marks: 13,050 / 13,150 / 13,290 / 13,315 / 13,340 points
The DAX® barely started trading. After the ECB interest rate decision, however, the index fell briefly to 13 230 points. In the late afternoon, however, the index recovered and settled above the 38.2% retracement line of 13,290 points. The bulls currently lack the strength to sustainably drive the market upwards. New buying impulses come above 13,350 points at the earliest.
DAX® in points; Hourly chart (1 candle = 1 hour)
Observation period: November 16, 2020 – December 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: December 11, 2013 – December 10, 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 | 8.11 | 12,900 | March 16, 2021 |
| DAX® index | HR1PRA | 6.95 | 13,450 | June 15, 2021 |
Source: HypoVereinsbank onemarkets; 12/10/2020; 5:32 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 | 5.60 | 13,300 | March 16, 2021 |
| DAX® index | HR1PRG | 6.46 | 12,900 | June 15, 2021 |
Source: HypoVereinsbank onemarkets; 12/10/2020; 5:33 pm
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The contribution Daily Outlook for December 11th: ECB does not give gifts. BASF, ThyssenKrupp in great demand! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pfadenhauer
http://blog.onemarkets.de
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