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European stock markets trade mixed
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DE30 trades near 15,310 pts resistance
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Deutsche Bank reports highest Q1 profit in 7 years
European indices trade mixed today. Shares from Germany, United Kingdom, Poland and France gain while equities from other countries lag. Polish WIG20 (W20) is European outperformer after the country's government unveiled a roadmap out of lockdown. Markets seem to be in wait-and-see mode ahead of today's FOMC decision and it cannot be ruled out that trading will remain muted until evening.
Source: xStation5
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Open real account TRY DEMO Download mobile app Download mobile appGerman DAX is trading higher ahead of today's FOMC policy decision. A look at the DE30 chart shows that while the index has been swinging up and down, the situation has changed just a little. Index continues to struggle with producing a break above the upper limit of a recent trading range at 15,310 pts. Downward moves were halted at the 15,250 pts area and the zone remains key, near-term support. Traders should keep in mind that today's trading may remain muted until FOMC announces its decision at 7:00 pm BST.
Company News
Deutsche Bank (DBK.DE) reported Q1 net profit at €908 million, the highest since 2014 and better than expected by analysts. Revenue increase 42% YoY with fixed income trading revenue jumping 34% YoY - growth higher than for most US investment banks. Deutsche Bank set aside €300 million for dividends. German lender also decided to upgrade its full-year revenue outlook. Deutsche Bank now expects revenue growth in 2021.
Delivery Hero (DHER.DE) reported Q1 revenue of €1.36 billion (exp €1.12 billion). Gross Merchandise Value in Q1 2021 increased 83% YoY, to €7.77 billion (exp. €4.54 billion). Delivery Hero had 662.8 million orders, up 88% YoY, and said that it processed 100 orders per second on average in April. Company expects full-year gross merchandise value to reach €31-34 billion while full-year EBITDA margin is seen between -1.5% and -2%.
Puma (PUM.DE) reported Q1 revenue of €1.55 billion (exp €1.47 billion) and EBIT of €154 million (exp €142 million). Net income reached €109 million (exp €83.8 million) while earnings per share stood at €0.73 (exp €0.58). Company said that it still expects 2021 performance to significantly improve compared to pandemic-hit 2020. Puma said that sales growth in 2021 may be in mid-teens (upper range of forecast).
Shares of Deutsche Bank (DBK.DE) rally today. Stock launched today's trading with a 4% bullish price gap and continued to gain after the session began. Key near-term resistance zone to watch ranges between €11.00 mark and 161.8% exterior retracement of the late-January correction. Source: xStation5
