- European stock markets trade higher
- DE30 broke above 14,000 pts area
- Volkswagen (VOW3.DE) to pay out $242million in 'dieselgate' settlement
European stock market indices are trading mostly higher on Friday, with DAX adding 0.55% amid cautious optimism over reopening of the Chinese economy and easing concerns of aggressive rate-hikes from the Fed and ECB. Worse mood prevails in the UK, as investors continue to digest the new fiscal stimulus package proposed by finance minister Sunak and the impact it could have on the BoE's tightening plans. On the week, major bourses in Europe are on track to book nearly 2% gains.
DE30 yesterday managed to break above major resistance at 14000 pts which coincides with upper limit of the wedge formation and upbeat mood prevails today, therefore attack on next resistance around 14465 pts cannot be ruled out. On the other hand, if market sentiment deteriorates, then another downward impulse towards major support at 13325 pts may be launched. Source: xStation5
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Volkswagen (VOW3.DE) announced that it will pay approximately $242 million to settle 91,000 out-of-court legal claims in the UK related to the Dieselgate emissions scandal from 2015 in which the largest European carmaker was embroiled in.
Airbus (AIR.DE) and Qatar Airways are heading towards a three-month summer trial next year after a UK judge granted the airline a relatively quick timetable while dismissing its procedural claims. Qatar Airways raised concerns over safety of about two dozen grounded A350 long-haul jetliners over flaws in their protective skin.
Siemens Government Technologies – the federally-focused U.S. arm of technology powerhouse Siemens (SIE.DE)– is expanding critical energy efficiency and resiliency work at Corpus Christi Army Depot (CCAD) in Texas. Using a budget neutral financed task order awarded by the Army Corps of Engineers’ Engineering and Support Center, Huntsville, the new $17.1 million task order will advance Army efficiency and resiliency goals for its premier rotary wing and repair facility, according to Business Wire
Siemens (SIE.DE) stock launched today's session higher and is currently testing a major resistance zone around €119.75 which is marked with 38.2% Fibonacci retracement, 200 SMA (red line) and downward trendline. Should break higher occur, upward move may accelerate towards next resistance at €134.25 which coincides with 23.6% retracement. On the other hand, if sellers regain control, another downward move towards support at €108.60 may be launched. Source: xStation5
