DE30 jumps above 15,600 pts

• European markets trade higher ahead of US GDP release

• DE30 bounces off support at 15,475 pts

• Airbus gains following forecast upgrade

European stock markets are trading higher on Thursday. FOMC remained dovish and the statement did not mention any taper talks, supporting risk assets like stocks. German DAX (DE30), Dutch AEX (NED25), Polish WIG20 (W20) and Italian FTSE MIB (ITA40) are top performing indices in Europe, gaining around 0.8% each. Release of the US GDP data at 1:30 pm BST is a potential risk event for equities today.

Source: xStation5

DE30 benefits from post-FOMC improvement in sentiment towards risk assets. German index bounced off the 15,475 pts support zone, where the upward trendline is located. DE30 is closing in on the resistance zone that has limited upward moves numerous times - 78.6% retracement of recent correction in 15,650 pts area. Index may become more volatile in the early afternoon following release of the US GDP report for Q2 2021 at 1:30 pm BST.

Company News

Volkswagen (VOW1.DE) reported a record first half profit in H1 2021. German carmaker said that during the first 6 months of 2021 its operating profit before special items reached €11.4 billion. Q2 sales reached €67.29 billion, up from €41.08 billion in Q2 2020. Q2 deliveries reached 2.55 million vehicles. Volkswagen has also launched a tender offer for Europcar, valuing the company at €2.9 billion.

Airbus (AIR.DE) reported Q2 net profit of €1.87 billion, up from a €1.44 billion net loss in Q2 2020. Company said that it delivered 297 aircrafts during the first half of 2021, up from 197 in the first half of 2020. Airbus also boosted its full-year aircraft delivery forecast to 600, up from previous 566. Company reported only 38 net new orders in the January-June period, due to many cancellations.

Airbus (AIR.DE) gains following upgrade to full-year delivery forecast. Share opened above the upper limit of a recent trading range and the stock is trading at fresh post-pandemic highs. Near-term resistance to watch can be found at €122.50, but potential breakout from trading range points to an upward move to as high as €126.50 area. Source: xStation5