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Stocks from Western Europe trade lower
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DE30 tested lower limit of trading range
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Reuters claims Airbus delivered over 70 airplanes in June
European stock markets trade lower on Tuesday, following a mixed Asian session. Once again European stock markets experienced weakness at the start of trading and dropped significantly in the first minutes of the session. German DAX (DE30), French CAC (FRA40) and Spanish IBEX (SPA35) trade 0.3-0.4% lower while UK FTSE 100 (UK100) drops 0.1%. Russian indices outperform gaining around 0.5%.
Source: xStation5
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Open real account TRY DEMO Download mobile app Download mobile appIt starts to become a daily routine for DAX to experience a steep drop shortly after the launch of a cash trading session. The German index tested the upper limit of trading range at 15,690 pts during the Asian session and began to move lower later on. DE30 plunged below the 14,650 pts price zone as well as 50- and 200-hour moving averages and tested 15,550 pts support. As bulls managed to defend this area, it looks like the trading range has been upheld once again. In case DE30 manages to break back above the 200-hour moving average (purple line), an upward move towards the 15,690 pts resistance will become a base case scenario.
Company News
Shop Apotheke Europe (SAE.DE), German online pharmacy, published preliminary financial figures for Q2 2021. Quarterly revenue increased 7.3% YoY to €250 million while the number of active customers increased by 300 thousand to above 7 million at the end of Q2 2021. Sales during the whole first half of the year increased 14.9% YoY to €534 million. Company expects organic sales growth of around 20% and EBITDA margin at 2.3-2.8% for full-2021.
According to a Reuters report, Airbus (AIR.DE) delivered over 70 aircraft in June alone. Deliveries for the January-May period stood at 220 airplanes, 38% higher year-over-year. Airbus declined to comment on the content of the report.
Airbus (AIR.DE) jumped yesterday when Reuters reported on delivery figures in June. However, stock failed to break above the resistance zone ranging around €115.00 mark and a pullback was launched. In case declines deepen, the near-term support to watch can be found at 61.8% retracement of the 2020 pandemic drop (€104.00 area). Source: xStation5
