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European markets trade higher
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DE30 paints fresh all-time high above 14,900 pts
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Volkswagen reportedly considering name change
European stock markets are trading higher on Tuesday in spite of a mixed Asia session and lacklustre performance of US indices yesterday. German DAX broke above the 14,900 pts mark for the first time in history with a fresh intraday high reached near 14,935 pts. German and Spanish indices are among European top performers today while stocks from Russia and Poland lag the most.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appDE30 reached a fresh all-time high today after breaking above a short-term resistance at 14,900 pts marked with 127.2% exterior retracement of the downward move started in mid-March. Index halted advance slightly below 14,940 pts mark and pulled back to retest the aforementioned 14,900 pts price zone. If the upward move is resumed, the near-term resistance levels to watch are 15,000 pts and 15,035 pts. The first one may turn out to be a short-term resistance due to the psychological nature of round levels while the second is marked with the 161.8% exterior retracement.
Company News
Volkswagen of America, subsidiary of Volkswagen (VOW3.DE), released what seemed to be an unfinished press release saying that it plans to change its name to 'Voltswagen of America', starting from May. Release has been quickly removed. Volkswagen did not comment on the matter and at this point it is unclear whether it was a leak of a real plan aimed at highlighting bigger focus on EVs or just premature April's Fools joke (April's Fools is on Thursday).
Deutsche Bank (DBK.DE) extended the contract of Chief Executive Officer Christian Sewing until 2026.
DHL Express, subsidiary of Deutsche Post (DPW.DE), expects the global business-to-business e-commerce market to grow to $20.9 billion by 2027, a growth of over 70% compared to now. Company expects 80% of all transactions between suppliers and businesses to be held on purchasing platforms by 2025.
Deutsche Bank (DBK.DE) halted recent pullback at the support zone ranging above €10.10. Long, lower wick of yesterday's candlestick hints that bulls remain strong. The near-term resistance zone to watch in case recover continues can be found between €11.00 and 161.8% exterior retracement of a January's correction. Source: xStation5
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