DE30: Tesla boosts sentiment in Europe

• DAX benefits from better Tesla results

• Investor attention focused on US GDP reading

• Evotec and Janssen Biotech enter into strategic partnership

Thursday's trading session on markets from the Old Continent brings improved sentiment among investors. Germany's DAX is posting gains today triggered by Tesla's better-than-expected quarterly results. The calendar of macro readings for today's session is focused primarily on macro data readings from the US. At 2:30 p.m. we will learn the preliminary GDP reading from the US, data on durable goods orders and the weekly reading on unemployment claims. After Wall Street closes, Intel (INTL.US) and Visa (V.US) will present their quarterly results. Mastercard (MA.US) will report its results before the Wall Street session opens.

Tesla results: 

The company reported record revenues of $24.32 billion (or $24.16 billion) and earnings per share of $1.19 (or $1.13). Elon Musk said Tesla could produce up to 2 million cars in 2023.

Investor sentiment on the Old Continent improved on Wednesday due to Tesla's better results. Most companies are now trading up. Source: xStation 5 

Company news and bank recommendations:

• The shares of Evotec (EVT.DE) are currently gaining nearly 6% on the back of the launch of a strategic collaboration and licensing agreement with Janssen Biotech to develop an immune therapy to fight cancer. 

• The shares of Germany's largest arms concert Rheinmetall (RHM.DE) are up more than 3.5% today. The company has raised sales forecasts and is pushing Berlin asking for more big orders. Last year, the conglomerate earmarked €700 million to expand production capacity, shocking itself with a plan to strengthen Germany's army. Sentiment was also improved by Germany's agreement to deliver Leopards to Ukraine. 

• The publication of good quarterly results is fueling the shares of Sartorius (SRT.DE), which are currently up nearly 3%. 

Source: Bloomberg

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

DE30 chart:

DE30 futures are trading moderately lower today. The instrument continues to remain below consolidation near local peaks and close to resistance set by the 78.6% Fibo elimination. Source: xStation 5