- European stocks trade mixed
- DE30 at record level
- Deutsche Telekom (DTE.DE) stock surges on upbeat quarterly figures
European indices launched today's session in mixed moods, however still remain at record levels, following a trend seen all over the week as some better-than-expected corporate results helped offset mounting inflation worries. On the data front, wholesale prices in Germany jumped 15.2% year-on-year in October, accelerating from a 13.2% rise in the previous month. It was the highest wholesale inflation rate since March 1974 when prices rose by 15.8% in the wake of the first oil crisis. On a monthly basis, wholesale prices increased 1.6%, following a 0.8% gain in September.
DE30 launched today's session higher and is testing yesterday's all-time high. Should a break higher occur, the next target for buyers is located at 16315 pts which coincides with 127.2% external Fibonacci retracement and upper limit of the ascending channel. The nearest support lies at psychological 16,000 pts level. Source: xStation5
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Deutsche Telekom (DTE.DE) stock rose nearly 3% after the company posted better than expected quarterly figures and raised its full-year outlook for the third time, boosted by its U.S. unit, T-Mobile, along with growth in European business. Deutsche Telekom earned 9.66 billion euros ($11.05 billion), beating analysts' expectations of 9.35 billion euros.
Deutsche Telekom (DTE.DE) stock launched today’s session with a bullish price gap and is currently testing major support at €17.00 which coincides with 23.6% Fibonacci retracement of the upward wave launched in March 2020 and two SMA's. If current sentiment prevails, upward move may accelerate towards all-time high at €18.90. On the other hand, if sellers manage to regain control, then another downward impulse towards next support at €15.67 may be launched. Source: xStation5
Daimler AG (DAI.DE) said Thursday that it has sold its entire stake in French peer Renault SA for around 305 million euros ($350.2 million). Daimler said the industrial partnership between the two auto makers isn't affected by the transaction. The divestment comes after Renault earlier this year sold its entire stake in Daimler for about EUR1.14 billion. Separately, Daimler Truck will be released on December 10. Company expects 2021 return on sales of 6-8% and a double-digit percentage by 2025.
Delivery Hero (DHER.DE) lifted its 2021 revenue guidance yesterday as the online takeaway food company benefits from its ongoing investments in food delivery and so-called quick commerce which aims to deliver goods in as little as 10 to 15 minutes.
