- DAX erases some gains after ECB decision
- Investors await conference call with Lagarde
- Sportswear companies gain after Lululemon results
Overall market situation:
Thursday's session on European markets brings sizable gains in the quotations of most stock indices. Nearly 0.53% gains are currently being seen on the German DAX. At the same time, France's CAC40 adds 0.26%, Britain's FTSE 100 gains 0.39% and Poland's WIG20 adds 0.29%. The gains, meanwhile, came ahead of the ECB's decision, which came with an expected 25 basis point cut in interest rates. Investors are now waiting for a conference call with President Lagarde, which is scheduled to begin at 1:45 pm BST.
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Source: XTB
Volatility currently observed in the DAX index. Source: Bloomberg Financial LP
Volatility currently observed in the broad European market. Source: xStation
The German benchmark DE40 is up nearly 0.17% during today's session. The index continues to hold the structure of the downtrend initiated on May 16. The continuation of the downtrend has led to the testing of a historically important support level in the zone of the 50-day exponential moving average (blue curve on the chart). Locally, the most important resistance all the time remains the historical peak at the level of 19,000 points, as well as the zone of 18,840 points, which is close to the current quotations (the index has violated this zone several times, and it has been a point of both support and resistance in the past). Source: xStation 5
News:
Shares of Adidas (ADS.DE), Puma (PUM.DE) and JD Sports (JD.UK) are gaining 0.52%, 1.96% and 2.5%, respectively, after US company Lululemon (LULU.US) raised its earnings forecast.
Susanne Klatten, Germany's richest woman, will transfer ownership of her investment company SKion to her three children in the summer. The transition will not affect Klatten's role as a major shareholder and member of BMW's supervisory board (she owns nearly 19.2% of BMW).
Germany will buy 20 more Eurofighters as part of its military expansion. According to people familiar with the matter, the cost of the aircraft - a joint project between Britain's BAE Systems Plc (BAE.UK), Airbus SE (AIR.DE) and Italy's Leonardo SpA (LDO.IT) - will be up to €4 billion, including logistics and maintenance.
Shares of German enterprise software giant SAP (SAP.DE) are gaining about 4.5% after CEO Christian Klein reiterated financial guidance for 2026/2027 and made positive comments on Joule, SAP's AI offering, citing integration with Microsoft's copoilot offering and the use of chipmaker Nvidia's AI capabilities.
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
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