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European markets trade mixed
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DE30 pulls back below 14,000 pts
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Delivery hero nearly doubles order volume in Q4 2020
European markets are trading mixed on Wednesday. Overall trading ranges are narrow as the session has been quite muted so far. There is no major market moving data scheduled for release today but Powell's speech at 7:00 pm GMT may provide some volatility.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appDE30 is pulling back today. The index reached fresh all-time highs yesterday but bulls could not hold onto the gains. Index is testing support zone ranging between 13,950 pts and 23.6% retracement. Breaking below would hint at continuation of a downward move with lower low being made. In case the index recovers, near-term resistance levels are marked with the downward trend line and local peak at 14,085 pts. So far European session has been quite muted, bigger volatility may arrive near the US open 2:30 pm GMT or during Powell speech in the evening (7:00 pm GMT).
Company News
Delivery Hero (DHER.DE) reported flash Q4 results. Q4 order volume increased 96% YoY to 423 million while segment revenue increased 93% YoY to €933 million. Gross merchandise volume increased 70% YoY to €3.9 billion. Results were better than expected.
According to a Reuters report, Siemens (SIE.DE) is preparing the sale of a unit that works on traffic light technology. Sale is expected to be launched mid-year and can result in proceeds of €500-600 million.
ThyssenKrupp (TKA.DE) announced big investments into production sites in DUisburg and Bochum. Investment is said to be in the size of high triple-digit million euro. Projects are expected to be completed by the end of 2024.
Delivery Hero (DHER.DE) bounced off the lower limit of triangle pattern and is now testing the resistance zone at €134.50. In case the stock breaks above this zone, an upward move toward the upper trendline may follow. Failure to break above the zone at €134.50 may trigger a pullback towards 50- and 200-hour moving averages in €130.50 area. Source: xStation5
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