DE30: DAX under pressure at the end of the week

• European sentiment weakens at the end of the week

• Mercedes-Benz publishes Q4 results

• Tesla under pressure over faulty autonomous driving system

This week's final session on markets from the Old Continent brings a deterioration in investor sentiment. There is a lot going on today within specific companies, in particular the shares of Mercedes-Benz, Allianz once ADRs on US Tesla. The mood in Germany is further spoiled by massive strikes at major airports. The macro calendar for today's session is relatively poor. 

Investor sentiment on the Old Continent deteriorated at the end of the week. Most European companies are currently recording declines.  Source: xStation 5

Company news and bank recommendations: 

• Investors' attention is focused on the shares of Mercedes-Benz (MBG.DE), which are gaining following the publication of Q4 2022 results and the announcement of a share buyback program. For more information, see our dedicated post here. 

• The German index and sentiment across the European market is being weighed down by US company Tesla (TSLA.DE; TSLA.US), whose shares lost following the announcement of the discovery of design flaws and the recall of some 363,000 cars equipped with the autonomous driving program. ADRs listed in Germany are currently losing more than 6.5%. 

• There is also a lot going on in the shares of Allianz (ALV.DE), which are losing after the publication of the fourth quarter results. The results themselves came out mixed; on the one hand, profits surprised on the positive side, coming in at €2 billion after last year's loss. Operating profit beat analysts' expectations by 14%, and the company announced that it would raise the dividend by 5.6% from €11.40 per share. The company is optimistic about business conditions in 2023. However, the negative sentiment is mainly due to a decline in revenue and assets under management. 

Source: Reuters

DE30 chart:

DE30 futures are trading down on Friday and testing the support set by the previously broken peaks of the consolidation area and the 78.6% Fibo retracement. Source: xStation 5