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European markets trade lower on Thursday
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DE30 drops below support at 13,250 pts
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Deutsche Post expects strong growth during Christmas period
European stock markets are trading lower on Thursday. Declines can be spotted all across the Old Continent with Polish WIG20 trading 0.8% lower and being a top laggard. German DAX drops 0.5% and is a top laggard among indices from the Western Europe.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appDE30 dropped below the 13,250 pts support zone, marked with the lower limit of the Overbalance structure, today. In theory, such a development marks a short-term trend reversal. However, declines were halted slightly below this zone so far and the index may still be able to climb back above it by the end of the day. Having said that, it is better to wait for a confirmation on the D1 interval before using such a signal. Should declines continue, support levels to watch are marked with limits of a short-term trading range from mid-November - 13,050 and 13,150 pts.
Company News
John Pearson, head of Express department in Deutsche Post DHL (DPW.DE), expressed an optimistic view on the Christmas period in an interview with Reuters. Pearson said that his company expects a 50% e-commerce growth during the Christmas period. He also said that his Express department is likely to achieve similar volume growth in the full-Q4 as it did in Q3 2020, which is 16%. Deutsche Post remains upbeat that expansion will continue into 2021.
Siemens (SIE.DE) has achieved its climate goals set in 2014. The German company has managed to reduce CO2 emissions in its value chain by 54% since 2014, above a target set at 50%.
Vonovia (VNA.DE), the German real estate company, has acquired 1,000 apartments in Kiel. Vonovia owns around 23 thousand apartments in the Kiel region. Antitrust authorities have approved the transaction in late-November and the deal is expected to close by the end of December. However, financial data for the acquisition was not disclosed.
DAX members at 10:28 am GMT. Source: Bloomberg
