DE30: European equities tumble on new restrictions

European indices are trading lower  amid worries  that rising number of new COVID-19 infections could force many governments to reimpose more lockdown restrictions which would have negative impact on region's economic recovery. Germany issued travel warnings to more parts of France, while Paris and London announced that bars and restaurants will close at 10pm. Spain considers widening a partial lockdown to more areas amid a rise in Covid-19 cases and as hospitals risk becoming overwhelmed. France unveiled fresh restrictive measures in several cities including Marseille. In Italy, Prime Minister Giuseppe Conte said the possibility of a new general lockdown is unlikely but there could be, if necessary, well-targeted closures.
On the data front, German Ifo Business Climate index rose by 0.9 points from the previous month to 93.4 in September, the highest level since February but below analysts’ expectations of 93.8. Meanwhile sentiment in the French manufacturing sector continued its steady recovery in September, rising to  96 in September compared with a revised figure of 92 in August. Swiss National Bank kept interest rates unchanged and reiterated its willingness to intervene more strongly in the currency markets to stop the rise of franc, as widely expected.

 

The Swiss company Winwatch announced that will integrate its traditional wristwatches with tiny security chips from Infineon Technologies AG (IFX.DE) which enables fast and secured payment transactions by radio frequency within milliseconds.

Infineon Technologies AG (IFX.DE)  - stock launched today’s session with a bearish price gap and is currently approaching major support level at €22.71 which is additionally strengthened by 50 MA (green line). Should downbeat moods prevail then next support at 20.44 may come into play. However if sellers will manage to halt declines there, then upward impulse towards resistance at €24.95 could be launched. Source:xStation5

 Lufthansa AG (LHA.DE) plans to offer rapid COVID-19 antigen tests to its passengers next month and considers the option of opening test centres at airports in the United States and Canada, a company executive said on Tuesday. Recently airlines and airports globally have urged governments to accept a passenger's negative COVID-19 test as an alternative to travel restrictions and quarantines.

Siemens (SIE.DE) expects that Siemens Energy, which makes gas and wind turbines, to reach a market value of significantly more than 17 billion euros ($19.98 billion)  after the company makes its stock market debut on Sept. 28, a source close to the company said. The consensus forecasts for the value of the business is 21 billion to 22 billion euros, said the source. Based on the number of Siemens Energy shares, that would result in a share price of 28.90-30.28 euros apiece. Siemens refused to comment.