DE30: European indices trade mixed ahead of NFP data

• European markets trade mixed on Friday

• DE30 swings in the 16,000 pts area

• Investors seek damages from Airbus for corruption scandal

European stock markets are trading mixed on the final trading day of the week. Gains can be spotted in the United Kingdom, Italy, the Netherlands or Austria. On the other hand, blue chips indices from Germany, France, Spain, Russian and Poland are moving lower today. Release of the US jobs data at 1:30 pm GMT is a key event of the day and traders should be aware of potential jumps in volatility.

Source: xStation5

DE30 got close to its record highs earlier in the week but failed to break to fresh records as moods deteriorated after the FOMC minutes release on Wednesday. German index pulled back to the psychological 16,000 pts area. A dip below this area was made this morning but the index found support at the 200-period moving average at H4 interval (purple line). Recovery move was launched and price is once again testing 16,000 pts area, this time as a resistance. Equity markets may experience some short-term volatility during NFP data release (1:30 pm GMT).

Company News

Investors in Airbus (AIR.DE) demand €300 million in damages from the firm for failing to properly disclose its involvement in a corruption scandal in Europe. Case resulted in a €4 billion settlement with authorities from France, United Kingdom and the United States. Investors claim that lack of disclosure of ongoing proceedings made them buy shares at inflated prices, which led to losses later on. 

James von Moltke , CFO of the Deutsche Bank (DBK.DE), said that he is confident the lender will achieve a return target of 8% in 2022. He said that the situation in investment banking is about to normalize this year with earnings being slightly higher than previously expected.

Analysts' actions

• Zalando (ZAL.DE) upgraded to "buy" at Hauck & Aufhaeuser. Price target set at €92.00

• Lanxess (LXS.DE) upgraded to "overweight" at Barclays. Price target set at €70.00

• Thyssenkrupp (TKA.DE) rated "neutral" at Oddo BHF. Price target set at €12.00

• Evotec (EVT.DE) rated "neutral" at Citi. Price target set at €40.00

Evotec (EVT.DE) trades lower today following a "neutral" recommendation from Citi. Share price is attempting to break below the €39.25 support zone and tests 200-session moving average (purple line). Stock broke below the upward trendline earlier this week and if buyers fail to defend the aforementioned moving average, a deeper drop may be looming. Source: xStation5