DE30 ignores lockdown news and moves higher

• European indices trade higher

• DE30 breaks above 14,000 pts

• Infineon Technologies will enter Euro Stoxx 50 index

European indices trade higher today in spite of a downbeat Asian session. Most of the blue chips indices from Western Europe post small gains, but declines can be spotted on Spanish and Belgian exchanges. Polish WIG20 (W20) and Swiss SMI (SUI20) are the best performing European indices.

According to a draft document seen by the media, Germany is set to extend current lockdown to March 28 and advise citizens to avoid domestic and foreign travel during the Easter period. On the other hand, reports claim that the government will allow shops to reopen under strict conditions in regions that experience low infection rates.

DE30 bounced off the 200-hour moving average (purple line) and managed to break above the resistance zone marked by the 61.8% retracement in the 13,970 pts area. The index broke above 14,00 pts in spite of news saying that Germany is set to extend lockdown until end-March. Near-term resistance can be found at the 78.6% retracement (14,060 pts). DE30 tested this zone earlier today but failed to break above it. Index looks to be readying for another attempt. Source: xStation5

Company News

HelloFresh (HFG.DE) reported full-2020 sales of €3.75 billion, up 111% year-over-year). Adjusted EBITDA increased to above €500 billion, with adjusted EBITDA margin of 13.5%. Active customer base increased 78% YoY in Q4 2020, to 5.3 million. Full year results well supported by strong Q4 performance. Company's sales reached €1.1 billion in the final quarter of 2020, an increase of 126% YoY. Quarterly adjusted EBITDA increased from €38.6 million to €173.8 million. Company expects 2021 revenue growth of around 20-25% and adjusted EBITDA margin of 9-12%. 

Infineon Technologies (IFX.DE) will replace Nokia in Euro Stoxx 50 index, effective from March 22. 

TeamViewer (TMV.DE) announced acquisition of Upskill, US augmented reality software company. Financial terms of the deal were not disclosed. Acquisition will broaden TeamViewer's products and strengthen its presence in the United States, German company's biggest market so far.

Shares of Infineon Technologies (IFX.DE) are climbing following a test of the support zone at €35.50. In case recovery continues, the resistance zone to watch can be found in the €36.60 area, marked with recent highs.On the other hand, key support to watch can be found at the 200-hour moving average and the upward trendline, slightly below the aforementioned €35.50 zone. Source: xStation5