- European indices lose at the start of Monday's session
- Vivendi spins off Canal+ and Studiocanal
- Porsche gives notice of potential write-down of Volkswagen shares
Monday's session on the European stock market brings declines in most stock indices. Germany's DAX is currently losing 0.13%, France's CAC40 is losing 0.83% at the same time, and Britain's FTSE100 is losing 0.38%. Investor attention today is focused on corporate news and PMI data.
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Create account Try a demo Download mobile app Download mobile appSentiment in the European stock market is mixed during Monday's session. Slight increases are currently being seen in the banking, technology and medical sectors. Automotive companies and industrials are under increased downward pressure. Source: xStation
DE40 (D1 interval)
The DAX is recording declines today, which are taking the index down to the local minima of the consolidation zone near the historical peaks. From a technical point of view, the DE40 seems to be maintaining an overall uptrend, as long as the 100-day curve (purple curve) and the 50-day curve (blue curve) are not broken on high volume, so it is worth looking now to see if the index manages to stay permanently above these zones (technically important support points). If such a scenario were to take place, it could mean an increase in the chances of a general continuation of the upward trend. However, it is worth noting the indications of the RSI indicator, which has gone above the 70 barrier (a textbook overbought level).
Source: xStation
News
On Friday, Porsche (P911.DE) reported a potential write-down of the value of its stake in Volkswagen (VOW1.DE) of between €7 billion and as much as €20 billion, following a lack of up-to-date financial data. The news lifts the quotations of major automotive companies during today's session.
Source: xStation
German real estate company Vonovia (VNA.DE) is offering minority shareholders of Deutsche Wohnen (DWNI.DE) to exchange their shares in the subsidiary for shares in the parent company at a ratio of 0.7947 Vonovia shares for one Deutsche Wohnen share held, the companies said Saturday. Vonovia currently holds 86.87% of Deutsche Wohnen shares. VNA shares are currently losing 4%, while DWNI shares are down 2.5%.
Vivendi (VIV.FR) shares are losing more than 70% in today's session after the media holding company's shareholders last week agreed to spin off Canal+and Studiocanal.
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