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Stocks in Europe trade mix after Japanese PM resigned
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DE30 realizes range of the head and shoulders pattern
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Delivery Hero (DHER.DE) to acquire InstaShop
Stocks in Europe are trading mixed on the final session of the week. Upbeat moods faded after Japanese news agencies informed that Prime Minister Shinzo Abe plans to resign. Abe later confirmed those reports during a press conference. Indices are attempting to recover but some, including German DAX, still trade below yesterday's close
DE30 painted a right arm of the head and shoulders pattern over the night and slumped after Abe resignation news hit the market. The index dropped towards 12,950 pts and realized the range of the aforementioned head and shoulders pattern. DE30 climbed back above 13,000 pts later on and is looking towards a short-term resistance at 13,100 pts. However, key resistance zone stretches between 13,185 and 13,200 pts. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appBayer (BAYN.DE) has encountered some difficulties related to Roundup settlement. According to the Bloomberg report, US Judge threatened to reset litigation and let it move forward as Bayer seemed to fail on a promise of paying $11 billion to plaintiffs. German company confirmed there were some troubles on the way towards the settlement.
Delivery Hero (DHER.DE) announced yesterday that it will acquire InstaShop, a Dubai-based groceries app. Delivery Hero will make a €270 million upfront payment with an option of paying additional €90 million depending on the app's performance over the next two years.
Fielmann (FIE.DE), German eye-wear company, released earnings report for Q2 2020 today. The company saw its profit drop from €42.2 million in Q2 2019 to €13.2 million now. Sales at €255.6 million were almost 34% YoY lower. Fielmann sold 1.4 million pairs of glasses in Q2 2020, marking a 33% YoY drop. Company sees full-year sales above €1.3 billion and pre-tax profit above €100 million.
Mercedes, an automotive brand owned by Daimler (DAI.DE), aims to achieve carbon neutrality by 2040, a decade earlier than the Paris Climate Accord requires it to.
DAX members at 10:08 am BST. Source: Bloomberg
