DE30 struggles to hold the 13,000-point support

11:49 AM 15 September 2022
  • DE30 attacks support at $13,000 level

  • Management sells Delivery Hero shares

Thursday's session on the markets of the Old Continent brings mixed sentiment among the major stock benchmarks. The DE30 is currently hovering near yesterday's closing levels. As for today's macro readings, investors will primarily focus on US unemployment claims (13:30 BST), retail sales (13:30 BST) and industrial production (14:15 BST).

The swaps market is currently pricing in a 79% chance of a 75bp rate hike at the ECB's October meeting. Source: Bloomberg

DE30 index chart, D1 interval. The benchmark German blue chips are trading mixed today and are struggling to hold support at 13,000 points. Source: xStation 5

Thursday's trading session brings mixed sentiment among the various sectors of the economy. Companies in the technology and healthcare sectors are doing well. The real estate sector is currently under pressure. Source: Bloomberg

Delivery Hero (DHER.DE) shares are under downward pressure today, reacting to news that members of the company's board of directors have sold their shares in the company.

Changes in institutional holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg

Bank recommendations:

  • Credit Suisse downgraded Novartis AG (NOVN.CH) shares to "underperform." Target price lowered from 88 francs to 78 francs.

  • Morgan Stanley lowered its target price for ThyssenKrupp (TKA.DE) shares from 8.2 euros to 7.3 euros.

  • Morgan Stanley raised its target price for Commerzbank (CBK.DE) shares from 11.4 euros to 13 euros.

The largest percentage changes of companies included in the DAX index. Source: Bloomberg

The most active stocks in the DAX index (DE30). Source: Bloomberg

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