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European indices trade lower
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DE30 reaches a 1-week low
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Delivery Hero reports EBITDA loss for H1 2021
Stocks in Europe are taking another hit on Thursday with major indices from the Old Continent trading around 0.5% lower. German DAX is one of the top laggards, dropping almost 0.7%. Swiss shares show resilience SMI index trading 0.1% higher. ECB minutes are set for release at 12:30 pm BST but they should not have a major impact on the market.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appAfter a few attempts of breaking above the downward trendline, DE30 bulls gave up and the index took a dive. DE30 reached a daily low near 15,690 pts - the lowest level in a week. While index bounced off daily lows, it continues to trade significantly below yesterday's closing prices and bears do not seem to be giving up. In case price drops below the daily low and a nearby trendline, declines may deepen towards the 38.2% retracement of the upward move launched in mid-July (15,645 pts). On the other hand, should bulls regain control, the first major resistance to watch can be found in the 15,850 pts area and is marked with previous price reactions.
Company News
Delivery Hero (DHER.DE) is trading lower after release of the first-half earnings report. German company reported an 83% YoY increase in processed orders, to 1.4 billion, and a 78% YoY increase in gross merchandise volume (GMV), to €16.2 billion. Total revenue was 109% YoY higher at €2.9 billion. Adjusted EBITDA remained little changed year-over-year at negative €332.3 million. However adjusted EBITDA/GMV margin improved from -3.6% to -2.1%. Company confirmed upgraded guidance from earlier this month.
Deutsche Bank (DBK.DE) is taking a hit today amid a plunge in shares of its subsidiary DWS. DWS trades over 10% lower today following reports saying that the United States launched an investigation into the company. Dow Jones reported that the probe is in early stages and relates to sustainability claims.
According to the Boersen-Zeitung report, Siemens Energy (ENR.DE) decided to halt energy projects in Afghanistan following the Taliban takeover of the country. Siemens Energy signed an agreement last November with the Afghan government that was overthrown earlier this month.
Deutsche Bank (DBK.DE) is trading lower today. Shares halted recent recovery move slightly below the resistance zone marked with the 38.2% retracement of the upward impulse launched at the beginning of 2021 (€11.00 area). The near-term support to watch in case declines deepen can be found at 50% retracement (€10.45 area). Source: xStation5
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