DE30: DAX on an upward swing; Nordex erases some of the morning's declines!

• DE30 stays below the 16,000 point barrier

• Nordex (NDX1.DE) erases some of the losses following the publication of result

• Volkswagen (VOW1.DE) reported that the Group's April car deliveries jumped by 39% YoY

The last trading session on European markets this week brings better investor sentiment. The German DAX (DE30) is up slightly today, but still below the psychological level of 16 000 points. Investors' attention today focuses primarily on the University of Michigan sentiment reading from the USA. Revisions to inflation data from Europe brought no change from the preliminary readings.

The mood in Europe during Thursday's trading session is relatively positive. Source: xStation 5

News: 

Nordex (NDX1.DE) shares are under downward pressure today, triggered by relatively disappointing quarterly results. Analysts paid particular attention to the decline in margin levels and the larger-than-expected loss. Results were primarily impacted by high winter shutdown costs. The company's outlook for the future remained unchanged and the shares managed to negate most of today's declines as the company's reaffirmed outlook turned out to be more positive than the analyst consensus had previously assumed.

Key details of the report presented. Source: Bloomberg

Nordex (NDX1.DE), D1 interval. From a technical analysis perspective, the company's last downward impulse stopped at the support zone defined by the 61.8% Fibo retracement of the upward trend initiated in October 2022. At the moment, the nearest resistance level is the 50% Fibo measure of the previously mentioned impulse. Source: xStation 5

Volkswagen (VOW1.DE) reported that the Group's April car deliveries jumped by 39% (720,000 vehicles) year-on-year. This result is mainly due to China, where deliveries jumped by 79%. For the four-month period (January-April), deliveries increased y-o-y by 14%. The only segments recording a decline in deliveries were Lamborghini and Bentley vehicles (-14%) and Volkswagen vans/buses (-33.6%).

Detailed delivery data published by the company. Source: Volkswagen

Volkswagen share price chart (VOW1.DE), D1 interval. Source: xStation 5 

Changes in institutional holdings in individual companies of the DAX index (last session data). Source: Bloomberg

Major percentage changes and information from individual companies in the DAX index. Source: Bloomberg

DE30 chart

Futures based on the German DAX index (DE30) are posting moderate gains today, but are still below the psychological level of 16 000 points. Source: xStation 5