-
European stock market indices erase early gains
-
DE30 pulls back from 50- and 200-period moving average on H4 interval
-
Rheinmetall vows to fix Puma IFVs in 2-3 weeks, shares jump 3%
In spite of an upbeat trading on Wall Street yesterday and in Asia today, European stock market indices are trading little changed after erasing early gains. Investors are slowly looking towards Christmas with the economic calendar becoming more and more light each day. CBRT decision (11:00 am GMT) and US Q3 GDP revision (1:30 pm GMT) are top macro events of the day but neither is expected to be a major market mover.
Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appGerman DAX is trading flat on the day after erasing gains from the higher opening. A look at DAX futures (DE30) at the H4 interval shows that declines may be about to resume. While DE30 defended the lower limit of a local market geometry (orange box), it has failed to break above a mix of 50- and 200-period moving averages. A pull back from the area marked with the aforementioned moving averages can be observed at press time. Should bears remain in control, another test of the lower limit of the local geometry in the 14,000 pts area cannot be ruled out. Note that 14,000 pts area is also supported by 23.6% retracement of the upward impulse launched at the turn of September and October 2022.
Company News
Rheinmetall shares (RHM.DE) gain today. Company said that, together with KMW, it aims to repair faulty Puma infantry fighting vehicles in 2-3 weeks. The German army halted purchases of Puma vehicles after they proved to be unreliable during exercises.
SFC Energy (F3C.DE) will replace Uniper (UN01.DE) in the SDAX index. Uniper will be removed from the index as the company's free float dropped below the required 10%. German government announced that it now holds a 99% stake in Uniper, following bailouts.
Thyssenkrupp (TKA.DE) was upgraded from "BB-" to "BB" at S&P. Ratings agency left outlook unchanged at "stable".
Rheinmetall shares (RHM.DE) have recovered most of the losses incurred since the German army halted purchases of Puma IFV. Company, and its partner KMW, announced today that they will resolve issues with Puma in 2-3 weeks. Stock tested the 200-hour moving average today (purple line) but has failed to break above. 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.
