DE30 gains, ECB Minutes without market impact

• The DE30 breaks above the retracement of the 38.2% Fibo

• Medical sector gains, weak sentiment in the real estate sector

Today's trading on Europe's major trading floors brings better sentiment. Stocks in Germany and France are up 0.56% and 0.2%, respectively.  

The attention of investors in Germany today was focused on the Q2 GDP reading and the Ifo institute index. ECB Minutes without market impact. Now the most important readings will be the US GDP report and jobless claims. 

Data: 

The Ifo index for the German economy comes in at 88.5 points, with expectations of a drop to 86.7 points and the previous level of 88.7 points. 

The assessment of the current situation falls slightly, but the assessment of the future remains unchanged, despite expectations of a sharp decline. 

However, the IFO Institute's chief economist indicates that recession is still in sight, given the weak situation in terms of trade, energy and high inflation. 

The GDP reading for Q2 also came as a positive surprise, indicating growth of 1.8% y/y versus expectations of 1.9% y/y and an earlier reading of 3.9% y/y. 

DE30 index chart, H4 interval. The benchmark German blue chips are trying to make gains today and are struggling to get back above resistance at the 38.2% Fibo retracement level (the 13,250-point region). We can locate the next support levels in the region of 13,000 points. Source: xStation 5

News:

• On the German stock market, the real estate sector is the worst performer. A rebound is seen in the medical sector.

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Source: Bloomberg

• The shares of Delivery Hero (DHER.DE) are currently losing nearly 3.5 percent on the back of a published first-half loss of €1.47 billion, compared to a loss of €1.0 billion a year ago.

Source: Delivery Hero

• The strong results benefited Aroundtown (AT1.DE), which is currently gaining 3 percent. 

• Source: Bloomberg 

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Largest percentage changes of companies included in the DAX index. Source: Bloomberg 

The most active stocks in the DAX index (DE30). Source: Bloomberg