- European stock markets trade higher
- Euro Area inflation rate hit fresh record high
- TeamViewer (TMV.DE) plans to launch €300M share buyback program
European indices launched today's session higher continuing the strong start to the new month, while annual inflation rate in the Eurozone jumped to a fresh record high of 5.1% in January, well above analysts' expectations of 4.4%. Energy continues to record the biggest price increase (28.6% vs 25.9% in December), followed by food, alcohol & tobacco (3.6% vs 3.2%), services (2.4%, the same as in December) and non-energy industrial goods (2.3% vs 2.9%), preliminary estimates showed. On the other hand, core inflation eased to a 3-month low of 2.3%. Nevertheless, today's reading raised expectations that ECB will have to raise interest rates this year to contain rising consumer prices. Although the central bank previously ruled out such an option, money markets priced in two 10bps rate increases by December. Therefore tomorrow's ECB monetary policy decision will be interesting as investors will look for any updates on the central bank inflation outlook and tightening plans. Also ongoing tensions between Russia and NATO over Ukraine may cause some market moves. Yesterday President Putin accused the West of deliberately creating a scenario designed to lure it into war while ignoring Russia's security concerns over Ukraine.
DE30 managed to break above major resistance at 15,550 pts recently and upward move continues today. Index broke above both 100 EMA (purple line) and 200 SMA (red line). If buyers will manage to uphold current momentum, upward move may accelerate towards all-time high at 16330 pts. On the other hand, should sellers take over and push the price below the 15,550 pts zone, major support 15000 pts may be at risk. Source: xStation5
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TeamViewer (TMV.DE) stock jumped more than 13% after the computer software company announced a share buyback program of up to €300M and confirmed its 2022 guidance, as revenues rose 9% in 4Q and 10% considering the whole FY21, despite a narrower operating profits margin.
TeamViewer (TMV.DE) stock launched today's session with a bullish price gap and is approaching the major resistance zone around €16.75 which is marked with upper limit of the 1:1 structure and downward trendline. Should a break higher occur, upward move may accelerate towards next resistance at €20.24 which coincides with 23.6% Fibonacci retracement of the last downward wave. On the other hand, if sellers manage to regain control, then 50 SMA (green line) should act as nearest support. Source: xStation5
SAP SE (SAP.DE) announced that hundreds of companies worldwide, including HP Inc. and Unilever, have chosen SAP Ariba and SAP Fieldglass solutions in the fourth quarter of 2021 to help digitalize procurement and external workforce management.
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