- DAX drops at the start of the week
- Volatility spikes on Ubisoft shares
- Adani Group begins talks to buy Heidelberg Materials' Indian cement subsidiary
Overall market situation:
Monday's session on European stock markets brings mixed investor sentiment. Germany's DAX is currently losing 0.34%. Britain's FTSE 100 is gaining 0.1% at the same time. At the same time, France's CAC40 is losing 0.16%. Investors' attention turns to corporate news today, due to the limited amount of published data at the beginning of the week.
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Volatility currently observed in the broad European market. Source: xStation
The German benchmark DE40 is trading nearly 0.90% lower during Monday's session. It seems that the key support points of the broad uptrend remain the zones of recent peaks (19,000 points) and the 50-day EMA (blue curve on the chart). The most important resistance, on the other hand, remains the historical peak near 19,650 points. Source: xStation
News:
The Adani Group is entering talks to buy Indian cement maker Heidelberg Materials (Cement, HEI.DE), the Economic Times reported, citing unidentified people familiar with the matter. The deal could be estimated at $1.2 billion. Adani Group is India's second-largest cement producer.
There's a lot going on in Ubisoft (UBI.FR) shares. The company's shares erased all the gains seen since the start of today's trading, after the company announced today that it is regularly reviewing all strategic options amid media reports of a potential buyout by Tencent and the Guillemot family, which somewhat dampened the euphoria of last week with its overtones. Recall that it was this news that propelled the company's shares up more than 35% on Friday.
Source: xStation
Nearly 5% growth is recorded today in the shares of Jenoptik (JEN.DE), after Deutsche Bank raised its recommendation (“buy”, target price at 45 euros per share (previously it was 28 euros).
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
