-
DE30 records declines
-
Bundesbank sees increasing chance of recession
The mood on the German stock market deteriorated in the first session of the week. Markets are still assessing what interest rate hikes we can expect in the future. At the moment, the DE30 is losing 2.05%,and the FRA40 is down 1.5%.
In Germany, the negative atmosphere was further added by the Bundesbank, which reported that a recession is becoming more likely, and inflation could exceed as much as 10%. This week, investors' attention is focused on the Fed's meeting in Jackson Hole.
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile app
DE30 index chart, H4 interval. The benchmark of German blue chips is seeing massive declines today and is struggling to sustainably defend support at the 38.2% Fibo elimination level (13,250 points region). It is also worth mentioning that from a technical perspective the index has negated the ongoing uptrend. We can locate the next support levels in the area of 13,000 points. Local resistance currently remains the 13,450 points zone. Source: xStation 5
News:
-
Today's session brings declines in all sectors, with reteail and the automotive sector posting the biggest losses.
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile app
Source: Bloomberg
-
The company that can boast sizable gains today is Fresenius (FME.DE), which is benefiting from rumors of an exit from the crisis affecting the company.
-
The shares of Borussia Dortmund (BVB.DE) are losing nearly 10% today following the loss of its match against Werder Bremen.
The largest percentage changes of companies included in the DAX index. Source: Bloomberg
The most active stocks in the DAX index (DE30). Source: Bloomberg
