DE30 reaches 1-week high above 15,600 pts

• European markets trade higher

• DE30 reaches 1-week high above 15,600 pts

• Share of EVs and hybrids in European car sales surge

Stocks in Europe are trading higher following solid release on PMI data from Germany. Strong beat in manufacturing reading boosted industrial companies, like German carmakers. Meanwhile, US100 futures hit a fresh record high above 15,000 pts mark. Moods on financial markets remain good and given that economic calendar for the remainder of the day is light, they may remain upbeat into the weekend. US PMI release at 2:45 pm BST may trigger some short-term volatility.

DE30 launched today's session higher and was additionally boosted by release of solid PMI data from Germany. Index bounced off the support zone marked with 200-hour moving average and 61.8% retracement of recent correction. DE30 climbed above 15,600 pts and trades at a 1-week high. Near-term resistance zone to watch can is marked with 78.5% retracement in the 15,640 pts area. Not that this area served as an upper limit of trading range from late-June and early-July. Source: xStation5

European Automobile Manufacturers' Association released data on market share of different type of vehicles. Battery EVs accounted for 7.5% of sales in Q2 2021, up from 3.5% in Q2 2020. Plung-in hybrids accounted for 8.4% of sales, up from 3.7% year ago. Share of hybrid electric vehicles increased from 9.6% to 19.3%. Combined share of petrol and diesel cars dropped from 81.3% to 62.2%.

Daimler (DAI.DE) said that it will invest €40 billion more than originally planned in development of EV batteries during 2022-2030 period. Company also said that it will build 8 new batter factories and aims to be ready to go full electric in 2030. However, the company did not specify when it will stop selling combustion engine cars.

Shop Apotheke (SAE.DE) lowered full-year sales growth forecast to 10-15%, down from 20%. Adjusted EBITDA margin is now expected near 0%, down from 2.3-2.8% previously. Company said that logistics constrains and tight labour market are reasons behind lowering of forecasts.

Daimler (DAI.DE) is trading over 3% higher today. Share price approaches key short-term resistance zone. Area near €74.00 is marked with previous price reactions, 50% retracement of recent drop and 200-hour moving average (purple line). Breaking above this zone would put price on track to reach a higher high and invalidate downtrend structure. Source: xStation5