Upbeat PMI data from Germany and France
Path to Brexit trade deal exists, says EU
Adidas (ADS.DE) considers selling off its Reebok brand
Path to Brexit trade deal exists, says EU
Adidas (ADS.DE) considers selling off its Reebok brand
European indices are trading higher amid optimism over a potential Brexit deal and ahead of the Federal Reserve’s final policy-setting meeting of the year. The European Union's chief executive said on Wednesday that there had been progress and that the next few days would be critical. "As things stand, I cannot tell you whether there will be a deal or not. But I can tell you that there is a path to an agreement now. The path may be very narrow but it is there," European Commission President Ursula von der Leyen said.
Also upbeat PMI data from Germany and France lifted market sentiment. Meanwhile, Germany enters lockdown today and Italy announced plans to impose new restrictions. Investors will also be watching for the outcome of the U.S. Federal Reserve's two-day meeting and further updates regarding US fiscal stimulus deal.
Also upbeat PMI data from Germany and France lifted market sentiment. Meanwhile, Germany enters lockdown today and Italy announced plans to impose new restrictions. Investors will also be watching for the outcome of the U.S. Federal Reserve's two-day meeting and further updates regarding US fiscal stimulus deal.
DE30 broke above 13,500 pts level on the back of better-than-expected flash Markit PMI data. If the current sentiment prevails, the upward move could be extended to the 13,838 pts handle, where all-time highs are located. However if sellers will manage to regain control, then nearest support lies at 19,945 pts. Source: xStation5Adidas (ADS.DE) says it has started looking at whether to keep its Reebok brand or sell it. The German sportswear giant did not made any firm decisions yet and Reebok future will be determined in March. Adidas paid $3.8bn (£2.85bn) for Reebok in 2006 and a number of names have emerged as potential buyers, including the private equity firm Permira which owns the Dr Martens and Timberland brand owner, VF Corp. Adidas said action it had taken in 2016 under a turnaround plan called "Muscle Up" had revived Reebok's flagging fortunes, increasing sales and profits. Reebok's revenue grew by 4% to €1.7bn in 2019, making up just 7% of Adidas' total annual sales.
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Adidas (ADS.DE) – stock launched today’s session with a small bullish price gap, however buyers struggle to break above the upper limit of the upward channel. In case the stock fails to close above the aforementioned resistance, then downward correction may start. Nearest support lies at 285.15. However if buyers will manage to uphold recent momentum, then another upward impulse towards November highs at 306.50 could be launched. Source: xStation5
SAP SE (SAP.DE) announced cloud-based time tracking solution which aims to simplify HR processes. New solution provides organizations with simple, innovative tools to record, approve and monitor the time of their workforce.
Volkswagen (VOW3.DE) stock extends yesterday gains after CEO Herbert Diess won a power struggle with unions at a key board meeting on Monday.
