- Lagarde announces further rate hikes, but decisions will be made from meeting to meeting
- Energy prices in Europe remain low, forecasts point to the next warm months
- DE30 is about to test a vicinity of 13,500 points
The first stock exchange session in November is very optimistic in Europe, which is taking place after a pretty good session in Asia. During the Asian session, there was some information that China is to ease Covid restrictions. On the other hand, stock growth in Europe is supported by the financial performance of European companies. In the coming days, more than half of the companies from the Euro Stoxx 600 index intend to present financial results. Today, positive sentiment is supported by very good results of BP.
DE30 chart:
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
The DE30 has been at its highest since September 13 and is preparing itself for an important test around 13,500 which is also close to a 38.2 retracement of a bearish wave from the highs in early 2022. DE30 is still about 17% lower than the mentioned peaks. However, at this point, you can see that the DE30 continues the breakout from the triangle formation and there has been a significant break above the supply zone defined by the 50 and 100-period averages. On the other hand, the 14-period average is approaching the 100-period average, which earlier (June, August) led to decreases. Source: xStation5
Weather forecasts for Europe are encouraging. Source: Bloomberg
News from companies:
• British Petroleum (BP.UK) shows its second-largest-ever adjusted profit of $ 8.5 billion. The company continues to buy back its own shares and intends to increase the dividend.
• Credit Suisse (CSGN.CH) gained more than 2% today after the announcement of an extraordinary shareholders' meeting to vote on a capital increase of CHF 4 billion
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.
