• 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.
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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
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