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European market trade higher
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DE30 sets new intraday, post-pandemic high
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Siemens considers another attempt of selling logistics business
Stock market indices from the Western Europe trade higher during the final session of the week. US stimulus hopes provide fuel for bulls with the US House expected to vote on the economic relief bill this afternoon. Apart from that, the economic calendar is light today so traders should focus on politics. Brexit deal continues to look uncertain and talks are expected to gather pace over the weekend.
Source: xStation5
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Open account Try demo Download mobile app Download mobile appDE30 made a jump at the start of today's session and has set a fresh intraday post-pandemic high at around 13,760 pts. The 127.2% exterior retracement of October's correction that can be found in the area has acted as a resistance and the index pulled back below 13,700 pts. Nevertheless, DE30 continues to trade within a striking distance of the all-time high at 13,815 pts. The US House is expected to vote on a stimulus bill later today and the positive outcome of the vote may provide some additional fuel for equity bulls.
Company News
According to the Bloomberg report, Siemens (SIE.DE) is considering making another attempt to sell a postal and airport logistics unit. Report claims that the German company may start looking into interest in the unit in the first half of next year. Siemens tried to sell the unit in 2014 and is considering making another attempt now as logistics business around the world gained traction thanks to the coronavirus pandemic.
HelloFresh (HFG.DE) is one of the best performing MDAX members today. Company gains following a price target hike at Barclays. The Bank has raised target price from €62 to €70 saying that stock still has upside in the near future. Barclays sees strong business growth in the first quarter of 2021 followed by moderate growth in the second quarter of the year. Bank expects growth to normalize in the second half of 2021.
DAX members at 10:13 am GMT. Source: Bloomberg
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