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Allianz resells its unit in Russia
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Citigroup raises recommendation on Siemens Energy shares
Thursday's trading session on the European markets brings a marked improvement in investor sentiment. The German DAX (DE30) is up more than 1% today and has rocketed to historic highs.
The optimism in the markets is mainly an extension of yesterday's rallies on Wall Street, which priced in optimistic comments around the US debt limit in the background. US President, Joe Biden indicated strongly that the US is paying down its debts and that talks are progressing and he will have more to report on Sunday when he returns from the G7 summit. Also a Republican, McCarthy of the House of Representatives indicated that declaring insolvency is not an option under consideration and that reaching an agreement this week is feasible.
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The mood in Europe during Thursday's trading session is clearly positive. Source: xStation 5
News:
Insurer Allianz (ALV.DE) has finalised the resale of a controlling stake in its Russian business. The company did not provide financial details of the above sale, nevertheless it is known that Zetta Insurance has become the buyer. Allianz shares are up more than 0.9% today.
Allianz shares are currently testing support at the 200-day exponential moving average (golden curve). Source: xStation 5
BMW (BMW.DE) plans to produce a new class of electric vehicles in both China and Europe. Implementing this plan would require an investment of around €1.3 billion. BMW expects to bring its new class of electric cars to market in 2025. The company's shares are currently trading up more than 2.5%.
The shares of Siemnens Energy (ENR.DE) are gaining more than 2.7% today following an upgraded recommendation from Citigroup to 'buy'. In its rationale, the bank primarily cited Siemens Gamesa's improved business prospects, which should be profitable in the second half of the year.
The shares of Siemens Energy (ENR.DE) are recording sizable rallies during today's session and are climbing towards the resistance area set by the 61.8% Fibo elimination of the downward movement initiated in early 2021.
Major percentage changes and news from individual companies in the DAX index. Source: Bloomberg
Changes in institutional holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg
DE30 chart
Futures based on the German DAX index (DE30) are trading at powerful highs today and are entering historic peaks. Source: xStation 5
