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Stocks in Europe trade higher
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DE30 tests 15,680 pts resistance
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Commerzbank reports weak Q2 results
Stocks in Europe are trading on Wednesday. German DAX is one of the best performing indices from the Old Continent, gaining around 0.8% on the day. Spanish Ibex is a top laggard among European blue chips indices as it is the only European benchmark to trade below yesterday's close. Stock traders should be aware of a potentially elevated volatility near 1:15 pm BST, when ADP employment report for July is released.
Source: xStation5
DE30 is trading higher today and one again tests the 15,680 pts resistance zone. Index managed to break above the 15,645 pts area that marked the neckline of the double bottom pattern, and is now testing the aforementioned 15,680 pts zone. Breaking above this hurdle would pave the way for the index to retest all-time highs in the 15,800 pts area. A potential range of the break from the double bottom pattern points towards 15,820 pts should it be executed in a textbook manner. There are some noteworthy releases scheduled for the hours ahead with ADP jobs report at 1:15 pm BST being the top one. Report is expected to show a 700k jobs addition in July.
Company News
Commerzbank (CBK.DE) is trading lower today, following the release of a weak Q2 earnings report. German lender reported a net loss of €527 million, slightly deeper than the €504 million loss expected. Revenue dropped 18.1% YoY, to €1.86 billion, while operating expenses increased 11% YoY, to €1.7 billion. Higher costs reflect restructuring charges as well as an unexpected write-off. On the other hand, Commerzbank reported a 7% YoY jump in net interest income.
Siemens Energy (ENR.DE) said that it will most likely report lower-than-expected earnings in Q3 2021. The company also said that it looks unlikely for it to achieve its full-year adjusted EBITA margin guidance of 3-3.5%. Decision comes after Siemens Gamesa (SGRE.ES), subsidiary of Siemens energy, lowered its full-year outlook.
Deutsche Post (DPW.DE) ordered 12 electric "Alice" cargo planes from Eviation. "Alice" planes require a single pilot and carry cargo of over 1,200 kilogrammes. Planes require around half an hour of charging for a one-hour flight and have a range of 815 kilometers. DHL said that plans are expected to be delivered in 2024. "Alice" planes from Eviation are still in the development phase and the first maiden flight is scheduled for 2022.
Siemens Energy (ENR.DE) is trading lower today, following a profit warning. However, given how the company's shares performed so far this year, today's drop can be seen as a minor. It remains to be seen whether profit warning will be enough to derail the recovery move that was launched following a test of the 78.6% retracement of the upward move launched in October. The near-term resistance zone to watch can be found at 61.8% retracement (€24.50 area). Source: xStation5
Daily summary: Equities rally as markets await Trump-Xi talks; precious metals decline on risk-on (27.10.2025)
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