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DAX tests the upper limit of broken consolidation zone
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Deutsche Post (DPW.DE) under pressure from ongoing strikes
Monday's trading session on markets from the Old Continent brings a weakening of investor sentiment. The macro calendar for today's session is relatively empty. After the close of trading on Wall Street, their financial results will be reported by, among others: Activision Blizzard (ATVI.US), Take-Two Interactive (TTWO.US), Pinterest (PINS.US).
Investor sentiment on the Old Continent on Monday is negative. Most European companies are currently experiencing declines. Source: xStation 5
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Deutsche Post (DPW.DE) shares are seeing declines today due to today's and tomorrow's strikes. Wage talks (workers are demanding a 15% wage increase) with Deutsche Post are expected to resume on Wednesday. The strike will affect parcel and letter centers and the delivery system. According to the union, 42,000 people are taking part in the strike.
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Shares of Carl Zeiss (AFX.DE) are losing nearly 2% today following a downgraded recommendation from Berenberg. The target price was raised from €135 to €138, and the rating dropped to "hold." According to Berenberg analysts, earnings in the second quarter of 2023 could come under pressure due to several margin-crushing factors.
Companies currently trading at their highest volume and key information from each. Source: Bloomberg
DE30 chart:
DE30 futures are trading lower today. The instrument is currently testing the upper limit of the consolidation zone and resistance set by the 78.6% Fibo retracement. Source: xStation 5
