The majority of the standard value indices treaded on the spot today. Tomorrow, US banks will usher in reporting season. They may be able to give the markets a significant boost. Sector indices such as the Solactive © Deutscher Maschinenbau and the Stoxx © 600 Automotive Index stood out due to their above-average price increases.
Most of the yields fell somewhat. The yield on 10-year government bonds fell to minus 0.553 percent. Investors continued to be cautious about precious metals. Gold and silver fluctuated today in the range of yesterday. Declining oil imports in China dampened sentiment on the oil market today. The price of a barrel of Brent Crude fell by around one percent to $ 55.50.
Company in focus
The share of German bank rose again over the mark of 10 euros – the highest level since February 2020. BMW and German postal service each benefited from positive analyst comments. RWE builds four new onshore wind farms in France and Poland. The share closed slightly up today. The aircraft manufacturers were again optimistic today. Either airbus as well as MTU Aero Engines took off today. Corona-scolded titles such as Deutsche Lufthansa and Hugo Boss as well as VW were also very popular. At tech companies like Infineon Meanwhile, profit-taking showed.
Renault-Chef Luca De Meo presented his strategic plan. In it he emphasized that in future more attention will be paid to returns than to sales. Against this background, the savings program will be extended and expanded until 2025, and production capacities will be significantly reduced.
Citigroup and JP Morgan Chase ring in the reporting season for 2020 tomorrow.
- Europe – Trade Balance
- France – consumer prices
- USA – Empire State Index
- United States – Retail Sales
- USA – industrial production
- USA – Uni Michigan Consumer Confidence
Chart technical outlook
Resistance marks: 14,000 / 14,100 / 14,430 points
Support marks: 13,780 / 13,840 / 13,900 points
After a strong start, the bulls lost their courage. At lunchtime, the DAX® fell below the mark of 14,000 points to 13,950 points at times. At the close of trading, the index was able to distance itself somewhat from the daily low. However, the resistance level at 14,000 points will initially remain. If the breakout above the mark is successful, there is a chance of a recovery to 14,100 points. On the downside, the index continues to find a support zone between 13,840 and 13,900 points.
DAX® in points; Hourly chart (1 candle = 1 hour)
Observation period: December 23, 2020 – January 14, 2021. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: January 15, 2014 – January 14, 2021. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
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