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European markets trade higher
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DE30 defends 15,070 pts support again
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Siemens Healthineers proposes €0.85 dividend per share for 2021
European stock market indices are trading higher today. Market moods improved after Russia announced that it is withdrawing some of its troops from the border with Ukraine. Russia informed that troops are leaving after the end of military drills as expected. However, satellite data released overnight showed an increase in the presence of Russian troops near the border. Situation changes rapidly and traders should be aware of volatile markets.
German ZEW indices for February were released today at 10:00 am GMT. Expectations subindex increased from 51.7 to 54.3 (exp. 55.0) while the current situation subindex improved from -10.2 to -8.1 (exp. -6.0). Zew institute said that survey participants expect removal of more Covid-19 restrictions in the first half of 2022 and continuation of the economic rebound. Banks were the most optimistic while the construction sector was the least optimistic.
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Source: xStation5
DE30 is trading significantly higher today, just like other European indices. German index managed to bounce off the 15,070 pts support zone following news of Russian troops withdrawal. As a result, the zone was defended once again. DE30 trades above 15,300 pts and there is still some room until it reaches the nearest major resistance - 200-session moving average (purple line). The aforementioned moving averages runs in the 15,626 pts area currently - near most recent local peak. While currently markets are benefiting from perceived Ukraine-Russia de-escalation, traders should be aware that the situation can take a U-turn on a single headline.
Company News
Shares of Delivery Hero (DHER.DE) jumped today on news of insider buying. According to regulatory filings, Nikolas Oestberg, CEO of the company, bought a large block of shares on February 10. Oestberg bought a stake worth €14 million. Traders made by insiders are often viewed as a good omen by the markets.
Siemens Healthineers (SHL.DE) proposed a 2021 dividend at €08.5 per share. Dividend payout ratio will be 55%. Company also confirmed that it still expects to see 2023-2025 annual growth of 6-8% and adjusted EPS growth of 12-15%. Siemens Healthineers also said that it will invest €60 million in 2022 into expansion of its production site in Kemnath, Germany.
Henkel (HEN3.DE) informed that its previously announced €1 billion share buyback will begin today.
Analysts' actions
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Wacker Chemie (WCH.DE) upgraded to "buy" at M.M. Warburg. Price target set at €173.00
Siemens Healthineers (SHL.DE) trades higher following announcement of 2021 dividend and after confirming mid-term targets. Stock is bouncing off the support zone marked with 38.2% retracement and previous price reactions (€55.00 area). Near-term resistance can be found in the €60.40 area. In case a recovery fails and stock breaks below €55.00 area, key support can be found at the lower limit of the Overbalance structure (€51.00). Source: xStation5
