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European indices erase morning gains
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DE30 pulls back from 13,000 pts
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EU Trade Chief sees no basis for Airbus to repay aid
European stock markets jumped at the beginning of today's cash session. However, bulls struggled to hold onto gains and a big part of gains was erased later on. Investors await hints on US stimulus talks and new lockdown decisions.
Source: xStation5
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Create account Try a demo Download mobile app Download mobile appDE30 surged at the beginning of today's session. However, bulls failed to break above the zone at 13,000 pts and a pullback started. Index gave back most of the gains and now trades just at 200-period moving average on H1 interval. Previous price reactions can be found in the same area as well. Breaking below this hurdle would pave the way for a drop towards support at 12,800 pts. Key support lies at 12,500 pts. Economic calendar is empty today so volatility may be a bit muted throughout the day. US stimulus talks will attract attention in the afternoon but so far progress looks slow.
Company News
The United States offered a truce in the Airbus-Boeing tariff dispute if Airbus (AIR.DE) repays billions it has received from governments. However, EU Trade Chief Dombrovskis said that he sees no basis for US demands. US offer came after the WTO gave the EU green light to hit the United States with tariffs for illegal aid to Boeing.
Media in Spain report that private equity unit of Allianz (ALV.DE) is planning to team up with Spanish telecom Telefonica (TEF1.ES) on a big €5 billion infrastructure project in Germany. Two companies would create a joint venture and invest in a fibre-optic network.
Airbus (AIR.DE) jumped at the start of today's session and broke above the 200-hour moving average (purple line). Upward move was halted at €66.50 swing level for now. Near-term support can be found in the €65 area. Source: xStation5
