During Asian session, Chinese Hang Seng Index rallied more than 3.5% again, improving sentiments across European, procyclical companies and those with high China market exposure. That's why we are seeing today rebound on shares of such German companies as chemicals Wacker Chemie (WCH.DE) and Brenntag (BNR.DE), but also Hugo Boss (BOSS.DE), Porsche (P911.DE) and Puma (PUM.DE), which may be volatile ahead of Nike (NKE.US) earnings scheduled on 1 October.
- Germany's DAX opened at record highs; German car producers rebound amid China sentiments improvement
- Hugo Boss (BOSS.DE) and Puma (PUM.DE) rebound nearly 5%; also driven by China. SAP (SAP.DE) loses 1% after news of employee dissatisfaction, SÜSS MicroTec (SMHN.DE) loses 2.5% after yesterday rally
- Higher than expected unemployment change in German economy (17.5 k vs 13k exp. and 2k previously); unemployment rate flat at 6%
Currently, volatility in the broader European market. Mercedes, BMW and Volkswagen gain more than 2%; we can see also continued, improving sentiments across the luxury sector. Source: xStation5
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوالDE40 (interval D1)
Germany's DE40 index is trading at historic highs after rising almost 2% yesterday; we can see also much higher buyers volumes. The first support is set at the previous local high, and 23.6 Fibo retracement of the upward wave initiated in 7 August between 19,000 and 19,200 points. The next key support could be the range between mid-July peak at 18,861 and 38.2 Fibo at 18,60 level. Currently, the oscillators give the bulls grounds for further upside, with the MACD rising and the RSI consolidating near overbought levels. However, they are approaching overbought levels.
xStation5
