DE30 consolidation continues

10:08 26 June 2020

• European shares launched today's session higher
• DAX is trading in a sideways move
• "We're past the worst of coronavirus crisis", according to ECB's Lagarde

European stock markets are trying to extend yesterday gains. Investors welcomed the fact that  the ECB  is launching a new facility that will provide euro liquidity to a broad set of central banks outside the euro area until June 2021. Meanwhile, US regulators eased restrictions on large banks investments', allowing them to invest in riskier assets such as venture capital funds and to avoid building up cash safeguards against certain derivatives trades. However  concerns about the negative impact of a second wave of coronavirus infections persisted after the US reported 39,327 new coronavirus infections yesterday, which is a new daily record. Also governor of Texas paused the state's reopening following a spike in the number of cases in the US. Meantime European Central Bank President Christine Lagarde said today, that the euro zone is "probably past" the worst of the economic crisis caused by the coronavirus pandemic, while urging authorities to prepare for a possible second wave of infections.

DE30 has been trading in an sideways move this week. Yesterday index  bounced off the lower limit of consolidation range at 12 000 pts. Today DAX launched session slightly higher. Should upbeat moods prevail, resistance at 12 623 pts may come into play. However if sellers will manage to take control, then aforementioned support at 12 000 pts may be at risk. Source: xStation5

DAX members at 09:37 am BST. Source: Bloomberg

Lufthansa (LHA.DE) shareholders on Thursday supported a $10 billion German government bailout package to rescue the embattled carrier after major shareholder Heinz Hermann Thiele dropped his opposition to the plan.

The European Commission will  investigate whether German financial regulator BaFin failed in its supervision of payments company Wirecard (WDI.DE) which collapsed yesterday owing creditors almost $4 billion after disclosing a gaping hole in its books.

SAP SE (SAP.DE) has extended its global alliance with CenturyLink, Inc. CTL in order  to provide better services to businesses in Singapore. Business enterprises will have smooth access to SAP business management solutions along with managed end-to-end applications, hybrid cloud and edge capabilities of CenturyLink's secure, global network.

Vonovia (VNA.DE) has acquired a 2.6% stake in Vesteda, a Dutch residential investor, its first step into the Dutch residential property market.

Vonovia (VNA.DE) launched today’s session higher. If the current sentiment prevails, the buyers should focus on the resistance at 55.71. Local support can be found at 52.25. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back

Join over 1.6 Million investors from around the world