- DAX in the zone of yesterday's closing prices on the spot market
- US GDP reading at 1:30 pm BST
- SAP under pressure from weak Salesforce results
General market situation:
Thursday's session on European stock indices brings mixed investor sentiment. Initially, moderate declines dominated the market, but these have been mostly erased by now. The German DAX on the spot market is trading near yesterday's closing levels, while other indexes such as the CAC40 and FTSE 100 are trading up 0.2% and 0.24% respectively. Investors' attention turns today to the GDP report from the US (1:30 pm BST).
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
European companies traded at mixed levels during Thursday's trading session. Source: xStation 5
Volatility currently observed in the DAX index. Source: Investing
Germany's benchmark DE40 is trading down nearly 0.08% during today's session. The index continues to trade in the structure of the downward trend initiated on May 16. In the medium term, the continuation of the downtrend may create room to test the historically important support level in the zone of the 50-day exponential moving average (blue curve on the chart). Locally, the most important resistance all the time remains the historical peak at 19,000 points. Source: xStation 5
News:
One of the leaders in the declines of Thursday's session on the German stock market is SAP (SAP.DE). The stock is currently losing 2.6% following yesterday's release of results from U.S. competitor Salesforce (CRM.US), which came in below analysts' expectations. Ahead of the Wall Street opening, CRM shares are losing 16%.
Sentiment was particularly hurt by weak demand in the cloud business. This has worried SAP investors, as the cloud business is also becoming increasingly important for the German group.
Source: xStation
Volkswagen's (VOW1.DE) first day without dividend entitlement, which falls today, causes nearly 5.5% declines in the shares of the automotive giant. The payout of €9 per share will take place on June 4.
Source: xStation
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
