• Trump and wife Melania test positive for COVID-19
• DE30 is testing major support at 12,600 pts
• SAP SE (SAP.DE) will acquire cloud marketing company Emarsys
• DE30 is testing major support at 12,600 pts
• SAP SE (SAP.DE) will acquire cloud marketing company Emarsys
European indices fell on Friday, tracking losses in global stock markets after US president Donald Trump and first lady Melania Trump both tested positive for Covid-19. Trump started quarantine today, which raised concerns about the impact on his presidential campaign less than five weeks before the election. Also investors stay cautious on an uncertain outlook for Brexit. UK PM Johnson is set to intervene on Brexit and will hold talks with European Commission president, Ursula von der Leyen, tomorrow. It will mark the first time he gets stuck in to talks since June, however, it is difficult to assess whether his involvement will bring any tangible effect.
On the data front, Eurozone consumer prices fell 0.3% from a year earlier in September 2020, the steepest decline since April 2016 and compared to market expectations of a 0.2% drop, a preliminary estimate showed. Today investors will focus on the official U.S. NFP report for a gauge on how the world’s largest economy is recovering.
DE30 launched today’s session lower and is testing major support at 12,600 pts level. Should a break below it occur, downward move towards 12,160 pts may accelerate. On the other hand, if buyers will manage to halt declines here, then upward swing may start. Local resistance is located at 12,917 pts, where one can also find a 50-hour moving average (green line). Source: xStation5
DAX members at 10:15 am BST. Source: BloombergSAP SE (SAP.DE) yesterday announced it will acquire Emarsys, a leading omnichannel customer engagement platform provider. Emarsys is an innovative and easy-to-use fully integrated cloud-based marketing platform. It allows companies to deliver truly personal customer interactions across e-mail, mobile, social, SMS, and the web at scale.
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SAP SE (SAP.DE) – stock price bounced of the downward trendline yesterday. If sellers will manage to uphold momentum then support at €130.00 may be tested. However, today bulls show some activity despite the prevailing risk aversion. If buyers will manage to break above the aforementioned trendline, then upward impulse towards €138.64 could be launched. Source: xStation5
Tesla.’s (TSLA.DE) factory near Berlin faces no major hurdles before getting the final green light to start producing electric cars next year, according to the premier of the Brandenburg state where it’s being built. Recently environmental activists and local residents have grilled authorities on hundreds of issues from deforestation and water usage to increased truck traffic and noise pollution. Despite the drawn-out process, Brandenburg Premier Dietmar Woidke isn’t concerned and expects the project to progress as planned. Tesla’s first factory in Europe could assemble as many as 500,000 cars a year.
Deutsche Bank (DBK.DE) chief executive officer Christian Sewing has told the bank's supervisory board he is not focused on mergers at the moment and is instead concentrating on restructuring and improving its profitability, people with knowledge of the matter said. This statement comes amid a growing sense of urgency in Europe about the need for banks to scale up as the coronavirus crisis deals a further blow to the industry after a decade of weak returns. Deutsche Bank declined to comment.
Volkswagen (VOW3.DE) is preparing to carve out Lamborghini and sought bankers and potential investors opinion regarding listing the Italian sports car maker on the stock market, two sources familiar with the matter told Reuters. According to these sources, Volkswagen is planning to make Lamborghini a more independent unit within its stable of car brands and is discussing long-term supply deals, both steps which would make it easier to carry out an initial public offering (IPO).Volkswagen declined to comment.
