Wednesday on European stock exchanges brings very good investor sentiment. Most indices are up more than 0.5%. The macroeconomic calendar for today remains relatively empty, with market attention focused on the FOMC minutes. The current quotes for the main European index contracts are as follows:
Source: xStation
Currently observed volatility on the broader European market. Source: xStation
The German DE40 index is up 0.97% in today's session and remains above the support zones set by the 50-day exponential moving average (blue curve on the chart) and recent historical highs at 24,512 points. As long as the D40 remains above these zones, the overall upward trend remains stable (as determined by the exponential moving averages). The 14-day RSI indicator is returning to around 64 points (values close to the technical overbought barrier). Source: xStation
Market news
European mining stocks fell sharply after President Trump announced a higher-than-expected 50% tariff on copper imports to the United States, causing turmoil in the metals markets. This led to a record increase in copper futures prices in New York and a drop in copper prices on the LME by as much as 2.4%. Major European mining companies such as Glencore (GLEN.UK), Anglo American (AAL.UK), Antofagasta (ANTO.UK) and KGHM Polska (KGH.PL), saw significant declines in their share prices, as copper is a key source of revenue for many of them. Analysts noted that companies with significant exposure to copper exports to the United States, such as Antofagasta and KGHM, are at the greatest risk.
Today's quotes for selected European mining companies. Source: xStation
UniCredit (UCG.IT) shares rose 3.6% after the Italian bank increased its stake in Commerzbank (CBK.DE) by 1 percentage point, reaching a total stake of around 20% and becoming the largest shareholder. The move is seen as a strategic step to deepen UniCredit's influence in the German banking sector.
EssilorLuxottica (EL.FR) shares soared 5.6% after META Platforms (formerly Facebook) announced a $3.5 billion investment in the eyewear giant, signaling a strategic partnership likely focused on smart glasses and augmented reality technologies. The move follows earlier collaborations between the two companies, such as smart glasses, and puts EssilorLuxottica at the forefront of innovation in wearable technology.
Other news from individual DAX companies. Source: Bloomberg Financial Lp
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