DE30 breaks above 14,500 pts resistance zone

• European indices trade mixed on Tuesday

• DE30 breaks above 14,500 pts resistance zone

• Airbus may have to delay A350 production ramp-up

European stock markets are trading mixed on Tuesday. Blue chips indices from France, the United Kingdom, Russia and Poland trade lower while benchmarks from Germany, the Netherlands, Spain and Italy gain. Economic calendar for today is mostly empty with ISM non-manufacturing reading at 3:00 pm BST being the only noteworthy release. However, ISM releases did not result in any major market moves recently therefore investors should not have too high expectations of today's release either.

DE30 managed to launch an upward move after a double bottom was painted in the 14,350 pts area. Index later broke above the 14,500-14,550 pts resistance zone that saw numerous price reactions recently and also marked the neckline of the aforementioned double bottom pattern. In theory, an around 200-point upward move could follow now, that would push the index to the 15,750 pts area. Source: xStation5

In spite of an exodus of Western companies from Russia and criticism of those that decide to stay, Henkel (HEN3.DE) has no plans of halting operations in the country. Company said that while it has no plans to cut operations in Russia completely, it is fully applying with all applicable sanctions. However, Henkel announced in March that it will halt all new investments in Russia.

KION Group (KGX.DE) announced that it is withdrawing official guidance for the fiscal year 2022. Company said that in view of coronavirus-related restrictions as well as war-related uncertainty it has decided to withdraw forecasts for fiscal-2022. Company

According to a Reuters report, Airbus (AIR.DE) revoked an order for a third A350 jet ordered by Qatar Airways amid a stand-off with the Qatari airline. Qatar has already grounded 23 A350 jets and would be entitled to over $1 billion in compensation if court proves its concerns over Airbus plane safety were justified. In other news it was reported that Airbus is mulling delay to A350 production ramp-up amid dispute with Qatar Airways and a massive hit to Russian aviation coming from sanctions.

Analysts' actions

• Munich Re (MUV2.DE) downgraded to "equal-weight" at Morgan Stanley. Price target set at €275.00

Airbus (AIR.DE) is trading lower today. Media hinted that Airbus may have to delay production ramp-up of its A350 jets amid dispute with Qatar Airways as well as Russian sanctions. Shares are trading over 2% lower today and test a support zone ranging around €108.00 handle. Source: xStation5