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European indices trade little changed on Friday
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DAX fails to break above yesterday's high
Indices from Western Europe are trading little changed on the final trading session of the week. However, there are a few exceptions. Blue-chips indices from the United Kingdom, Poland, Hungary and Russia are all trading below yesterday's closing prices. In most cases trading ranges are narrow and may remain so for the remainder of the day as the economic calendar is empty today.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appDE30 remained in a narrow 90 pts range yesterday. German index retested the support zone at 13,230 pts overnight and moved towards yesterday's high in the 13,325 pts area. Nevertheless, bulls were unable to break above this resistance and a pullback started. DE30 is trading near the 50-hour moving average at press time. As the economic calendar is empty today, the index may remain in the 13,230-13,325 pts range throughout the session. Brexit-related headlines could offer some volatility but the market has been looking past these recently. Wall Street session will be held today but it will be a shorter one (2:30-6:00 pm GMT).
Company News
No major news on the German blue chip companies was released over the past 24 hours and DAX members continue to trade in narrow ranges amid thin liquidity conditions. Automotive stocks are leading losses in the DAX index while chemical companies BASF (BAS.DE) and Covestro (1COV.DE) outperform. A point to note is that today is Black Friday. Having said that, German retail companies like, for example, Adidas (ADS.DE) or Ceconomy (CEC.DE) may present sales data for this event at the start of next week.
DAX members at 10:08 am GMT. Source: Bloomberg
