- DE30 hit new ATH
- Solid macroeconomic data from Germany
- Daimler (DAI.DE) and Nokia (NOKIA.FI) reached a patent licensing deal
European indices launched today's session higher, boosted by upbeat economic data and gains in heavyweight commodity stocks. Oil giants BP (BP.UK) and Royal Dutch Shell (RDSA.UK) shares rose more than 0.5% each after Brent crude price broke above $70 per barrel on favourable demand outlook ahead of OPEC+ meeting. DE30 is one of the best performing European indices today. The German index gains over 1.4% today and has reached a fresh record high near 15,650 pts thanks to upbeat data. The IHS Markit Germany Manufacturing PMI was revised higher to 64.4 in May from a preliminary of 64 but remained lower than 66.2 in April. Still today's reading showed strong growth in factory activity, even despite supply-chain disruption. German unemployment decreased by 15k to 2.739 million in May, following a downwardly revised 8k rise in the previous month and compared with analysts’ estimates of a 9k decline. Meanwhile, the annual inflation rate in the Eurozone jumped to 2% in May from 1.6% in April and above market expectations of 1.9%.
DE30 hit a fresh all-time high during today's session. If buyers will manage to uphold momentum, then upward move may be extended to the 15793 pts level which is marked with the 127.2% of the external Fibonacci retracement. However, if sellers manage to halt further advances then the nearest support lies at 15603 pts. Source: xStation5
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Open account Try demo Download mobile app Download mobile appDaimler (DAI.DE) has agreed to pay Nokia (NOKIA.FI) for using its patents, ending a legal battle between two companies over royalties for key technologies. The German carmaker has to date never paid Nokia for using its patents.
ProSiebenSat.1 Media (PSM.DE) chief executive Rainer Beaujean said during the annual general meeting that he was aware of the interest of international media companies in merging with the German broadcaster, and would not close his mind to any reasonable idea.However he also mentioned that: "Our own strategy is clear and does not need any help from outside."
ProSiebenSat.1 Media (PSM.DE) stock broke above major resistance zone at €18.00 which is marked with upper limit of 1:1 structure, 200 SMA (red line) and 23.6 Fibonacci retracement of the downward wave which started at the end of 2015. If the current sentiment prevails, upward impulse may accelerate towards next resistance at €22.56. Source: xStation5
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