General market situation:
European stocks slumped at the start of the week after China announced retaliatory tariffs of 34% on the US, threatening to escalate the global tariff war. However, the sharp declines have now lost most of their bearish momentum. Markets are waiting for the Wall Street session to start and a potential influx of new political information.
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Distribution of today's returns for European companies. Source: xStation
The German DE40 index is losing 2.6% intraday today, although it has already erased most of its losses since the beginning of trading, which at one point reached 7.3%. The key to analyzing the index's further potential behavior may be the element of further behavior of demand and supply for the 200-day EMA zone and the 20,000-point barrier, which is now being retested. Source: xStation
News:
Monday's drop in Rheinmetall AG (RHM.DE) shares tempted the head of the German arms group to spend more than 710,000 euros to increase his stake in the company. CEO Armin Papperger bought two blocks of shares, one at an average price of 1,065 euros, the other at around 1,058 euros, according to the documents. After opening down 27%, the shares quickly recovered, currently losing "only" 4.5%.
Source: xStation
In terms of sectors, oil companies are currently doing the worst, given the massive drop in oil prices on the market.
Source: xStation
The growing chances of rapid rate cuts in the Eurozone are also having a negative impact on local bank valuations. The financial sector is the second worst performing sector in today's trading.
Source: xStation
Other news from companies that make up the DAX index. Source: Bloomberg Financial LP
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