• Number of COVID-19 cases keep on increasing globally.
• Deutsche Bank (DBK.DE) fined $150 million over Jeffrey Epstein ties
• Deutsche Post (DPW.DE) second-quarter profits above expectations
• Deutsche Bank (DBK.DE) fined $150 million over Jeffrey Epstein ties
• Deutsche Post (DPW.DE) second-quarter profits above expectations
Europe indices opened lower on Wednesday, extending previous session’s losses as another jump in global cases of the novel coronavirus clouded hopes for an economic rebound in the second half of the year. Several US states reported record increases in new COVID-19 infections, while other countries around the world, including Australia and Spain, have also been hit by a new wave of infections. Yesterday the European Commission forecasted a deeper recession in the Eurozone compared to previous estimates. In an interview with the Financial Times, published Wednesday, ECB President Christine Lagarde signaled the central bank may keep policy unchanged for some time after it almost doubled the size of its pandemic purchase program to 1.35 trillion euro ($1.52 trillion) last month.
DAX (DE30) launched today's session lower and is currently testing 12 623 pts level. If sellers will manage to break below the upward trendline, then downward impulse towards 12 000 pts could be launched. Source: xStation5
DAX members at 10:24 am BST. Source: BloombergDeutsche Bank (DBK.DE) has agreed to pay a $150 million fine for significant compliance failures in its dealings with Jeffrey Epstein. The agreement is the first enforcement action by a regulator against a financial institution for dealings with registered sex offender Jeffrey Epstein, according to the New York State Department of Financial Services.
Deutsche Bank (DBK.DE) stock has been trading in a symmetrical triangle pattern. If price will manage to break below the lower limit of triangle pattern then first support to look for is located at €7.81 per share. However, if the bulls manage to take control of the market, resistance around € 9.27 may be at risk. Source: xStation5Yesterday Deutsche Post (DPW.DE) reported a 16% rise in second-quarter operating profit, well above analyst forecasts, and vowed to grant bonuses to 500,000 workers for their efforts during the crisis.
Daimler (DAI.DE) is planning to sell the Hambach factory in eastern France, where the company has been manufacturing the Smart compact car for several years. The liquidation of the factory means that about 1,600 people will lose their jobs. The move is in line with the firm's cost-containment efforts in wake of the COVID-19 pandemic. Daimler aims to improve productivity in light of heavy investments in electrification and other fields. Notably, the company plans to manufacture the next generation of Smart electric cars in China.
Lufthansa (LHA.DE) airlines will cut 20% of its leadership positions and 1,000 administrative jobs in a restructuring plan that it announced on Tuesday to cope with fallout from the coronavirus crisis.
Wirecard (WDI.DE) - the administrator of collapsed German payments firm said on yesterday that more than 100 investors have expressed interest in buying the company's core business and its holdings.
