-
DE30 falls below the 38.2% Fibo retracement
-
GfK Consumer sentiment worsened in September
The last trading session this week brings a weakening of investor sentiment. The DE30 is losing ahead of Jerome Powell's speech at the economic symposium in Jackson Hole.
As for macro data releases, in addition to the symposium itself, PCE readings and the University of Michigan's sentiment will catch investors' attention. In Germany today, we learned the consumer sentiment reading for September, which indicated a drop in sentiment to -36.5 against forecasts of -31.3 and an earlier reading of -30.9.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
DE30 index chart, H4 interval. The benchmark of German blue chips recorded declines during the last session of the week and fell below the 38.2% Fibo retracement (the region of 13,250 points). We can locate the next support levels in the area of the last local lows and at the level of 13,000 points. Source: xStation 5
News:
-
The real estate sector is the worst performer on the German stock market. We are seeing a rebound in the financial sector.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app -
Continental (CON.DE) shares with a downgrade to "sell" by Bankhaus Metzler. Target price at 50 euros. The bank's analyst warns of a possible cooling of demand in the tire industry and climate change that could hamper the high-margin winter tire business.
-
Lufthansa (LHA.DE) pilots have rejected proposals for a 5.5% raise. Management is warning of possible strikes. The carrier's shares are losing more than 1.2% today.
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
