CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

DE30 gains as China eases Covid restrictions further

11:28 27 December 2022
  • European stock market indices trade higher
  • China to ease travel restrictions
  • Symrise AG (SY1.DE) has been upgraded by Zacks to "Strong Buy" 

European indices kicked off trading in the shortened last week of the year in upbeat moods as investors welcomed China's announcement that inbound travelers will not be quarantined from January 8th, raising hopes of a recovery in the world's second-largest economy. Among top gainers, China-exposed luxury firms LVMH (MC.FR), Kering (KER.FR) and Hermes (RMS.FR) jumped over 1.5% each. Germany's DAX 40 rose over 0.50%, led by gains in travel and consumer goods shares. Meanwhile, a recent survey of major associations published by Reuters today revealed  that German businesses expect only a mild recession in 2023. On the other hand, a survey from the IW economic institute showed, nearly three out of five German industry associations are pessimistic about next year and expect their companies to lower production as high energy prices due to the war in Ukraine show no signs of abating.

DE30 launched today's session with  a bullish price gap above support at 14025 pts, which coincides with 23.6% Fibonacci retracement of the last upward wave. If buyers manage to uphold current momentum, upward move may move towards recent highs at 14730 pts. On the other hand one need to remember that overall sentiment remains gloomy due to hawkish central banks, therefore another downward impulse towards support at 13615 pts may be launched. This level is additionally strengthened by 200 SMA (red line) and 100 EMA (purple line). Source: xStation5

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Company news:

Symrise AG (SY1.DE) has been upgraded by Zacks to Strong Buy due to upbeat earnings outlook that could translate into buying pressure and an increase in its stock price.

Symrise AG (SY1.DE) stock launched today’s session higher, however sellers manage to regain control and price is approaching major support at €102.00 which is marked with previous price reactions and 50.0% Fibonacci retracement of the upward move launched in March 2020. Should break lower occur, downward move may accelerate towards the lower limit of the consolidation range €95.00 in which the stock has been trading since the beginning of 2022. Only a break above the upper limit of the range at €115.00, could potentially shift main market sentiment towards bullish. 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.

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