DE30 hovers near record high

• European stocks opened mixed
• DE30 approaches all-time high
• Lufthansa (LHA.DE) returns to profit

European indices launched today's session in mixed moods, with the CAC 40 edging higher to new all-time high, while the DAX was little changed as investors remain cautious ahead of the Fed’s policy decision following today’s session. Expectations are for an official taper announcement and if confirmed, stocks may trade under pressure. On the data front, the Eurozone jobless rate declined to 7.4% in September, from 7.5% in August, as expected.

DE30 index continues to react to Fibonacci retracements of the downward move started in August 2021. Index bounced off the 61.8% retracement last week and has climbed above 78.6% retracement at the beginning of this week. The index is trading within a steep upward channel and the next resistance level to watch can be found near the upper limit in the 16,032 pts area which is also all-time high. However if sellers manage to regain control, the nearest support lies at 15,765 pts area. Source:xStation5

Company news: 

Lufthansa (LHA.DE) stock rose 4% after the company announced yesterday a return to operating profit in Q3 for the first time since the pandemic began, supported by the easing of travel restrictions and strong demand during the summer season. The German airline earned 17 million euros ($ 19.69 million) compared to a loss of 1.262 billion euros in the year-ago period, while markets expected a loss of 33 million euros. The company's third-quarter revenue almost doubled to 5.2 billion euros, compared with analysts' expectations of 5.5 billion euros.

Lufthansa (LHA.DE) stock launched today’s session with a bullish price gap and is heading towards major resistance at €7.00 which coincides with earlier broken lower limit of the downward channel, 50 SMA (green line) and 23.6% Fibonacci retracement of the last downward wave. However, if sellers will manage to halt declines there, then another downward impulse towards support at €5.36 may be launched. Source: xStation5

Volkswagen (VOW3.DE) is expanding its green strategy by investing in an EU-backed fund to jointly support technology companies in the field of energy transition. The car maker, which has committed to becoming carbon neutral by 2050, announced Wednesday that it has formed a strategic partnership with EIT InnoEnergy and will become a stakeholder in an EU-backed venture.

BMW (BMW.DE) saw €2.6 billion in Q3 net earnings beating estimates by €0.2 billion, on higher selling prices and the prioritizing of sales of its most lucrative models.

Teamviewer (TMV.DE) stock rose more than 10% after strong quarterly results and confirming its guidance.

Zalando (ZAL.DE) reported lower quarterly profit yesterday as it offered discounts to try to keep customers shopping online after physical stores reopened following the easing of coronavirus lockdowns. Company's third-quarter adjusted operating profit dropped to 9.8 million euros ($11.35 million) from 118 million a year ago, while sales rose 23% to 2.3 billion euros, slightly above analysts' projections of 2.24 billion.