DE30 near the key barrier of 16,000 points💡

• European stock markets gain at the end of the week
• Bayer shares benefit from favorable Delawere court ruling
• Volvo Car under pressure to sell off large stake by Zhejiang Geely Holding Group

Overall market situation:

The last session of the week in European markets is going very optimistically. The Dax continues the upward movements of the previous days and is approaching the psychological barrier of 16,000 points. Investors increasingly believe that the US interest rate cycle is coming to an end.

The DAX gained more than 4% this week, driven mainly by lower inflation data from the US. For the full year, the DAX has gained nearly 14%. The macro calendar for today's session is relatively empty. The revision of CPI data from the Eurozone came in line with the first reading. 

At the moment, companies listed in Europe during Friday's trading session are trading in a much better mood. Source: xStation 5

Futures based on the German DE30 are trading nearly 0.62% higher on an intraday basis and are currently on the verge of a key resistance barrier set by the 16,000-point level. A possible breakout above these structures could open the way for further rallies towards the local session peaks of late August/early September 2023. On the other hand, the key resistance zone for possible observation is the level of 15,700 points. Source: xStation 5

News:

Investors' attention in Germany continues to focus on Siemens (SIE.DE) and Hellofresh (HFG.DE) shares. SIE.DE shares are gaining 1.3% today, even though yesterday the gains were as high as 5.8% following the release of quarterly data and the announcement of a higher dividend. Hellofresh was subjected to a nearly 20% wave of declines triggered by the company's profit warning during yesterday's session; today, the stock is losing "only" 1%, having gained as much as 2% at the beginning of the session. 

Bayer (BAYN.DE) shares are gaining nearly 1.75% following a favorable ruling by the Delawere court regarding liability related to Dr. Scholl's products. The claims involved lawsuits alleging that asbestos-contaminated talc caused cancer in several cases.

Volvo Car (VOLCARB.SE) shares are losing nearly 11.5% in today's session, following Zhejiang Geely Holding Group's decision to sell about 100 million shares in the company. 

Volvo Car (VOCARB.SE) shares hit new lows after Zhejiang Geely's ruling Source: xStation

Analyst recommendations:

* Fresenius Medical (FME.DE): SocGen raised its recommendation on the stock to a "buy" rating. Target price set at €71. 

* Evonik (EVK.DE): Morgan Stanley raised its recommendation on the stock to an "equal-weight" rating. Target price set at 17.5 euros.