The mood on the German stock market is trying to stabilize after yesterday's sell-off. Markets are still assessing what interest rate hikes we can expect in the future and are closely watching the Jackson Hole symposium. At the moment, the DE30 is losing 0.16%,and the FRA40 is off 0.26%.
Today's session is a day for the publication of PMI indices for the world's largest economies. In Germany, the Composite index slipped to a 26-month low, which more clearly threatens the real emergence of a recession in that country.
Source: S&P Global Flash Germany PMI
Source: S&P Global Flash Germany PMI
Chart of the DE30 index, H4 interval. The benchmark German blue chips are seeing mixed levels today and are struggling to get back above support at the 38.2% Fibo elimination level (13,250 points region). It is also worth mentioning that from a technical perspective, the index has negated the ongoing uptrend. We can locate the next support levels in the region of 13,000 points. Local resistance currently remains the 13,450 points zone. Source: xStation 5
News:
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Today's session brings declines among companies in the communications and information sector. Real estate and automotive sectors are doing well.
Source: Bloomberg
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Shares of TAG Immobilien (TEG.DE) are gaining nearly 4% today on the release of Q2 results.
Source: Bloomberg
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Fraport (FRA.DE) gains 2% today amid good air traffic data at Zurich Airport.
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
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