-
Stocks in Europe trade lower
-
DE30 finds support in the 15,000 pts area
-
Daimler shareholders approved truck unit spin-off
Stock markets in Europe are trading mostly lower at the beginning of a new week. Dutch AEX is one of the worst performing European blue chips indices, trading over 1% lower on the day. On the other hand, Russian RTS can be seen as an outperformer as it manages to post small gains. The session has been rather calm so far with sideways trading dominating morning price action.
Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appDE3 has managed to bounce off the 200-session moving average (purple line) last week and climb back to the lower limit of market geometry at 15,200 pts. A pin bar candlestick pattern was painted in the area, suggesting an upward move may be launched this week. However, bears can be seen dominating at the start of a new week. DE30 once again dropped below the lower limit of market geometry and is once again testing the aforementioned 200-session moving average. The 14,900-15,050 pts area looks to be a strong support marked with the moving average, 23.6% retracement of the upward move started in November 2020 as well as the previous price reactions, not to mention the psychological 15,000 pts level. Breaking below this zone would create a bearish bias but it should be noted that 15,000-15,050 pts area has acted as a floor so far today.
Company News
Shareholders of Daimler (DAI.DE) approved a planned spin-off of the truck business. Shares of a new company are expected to start trading on public exchange in December 2021.Spin-off received a support of 99.9% votes during the extraordinary general meeting. Shareholders will receive a Daimler Truck share for each two shares of Daimler they own. Moreover, Daimler also announced that it will change its name to Mercedes-Benz Group on February 1, 2022.
Delivery Hero (DHER.DE) announced that it has acquired Hungry, a Danish online food delivery marketplace. Delivery Hero already had a 44% stake in the company and has now purchased the remaining 56%. Aim of the acquisition was to strengthen Delivery Hero's presence in Nordic countries.
Spanish competition watchdog found that Siemens (SIE.DE) along with 7 other companies were involved in manipulation of public contracts on rail-signalling systems. 8 companies received a combined €127.3 million fine.
News of acquiring full stake in Hungry failed to provide a relief for Delivery Hero (DHER.DE) share price. Stock continues to move lower following a break below the upward trendline last week. The closest support zone to watch can be found ranging around a €104.00 swing level. 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.
