DE30 surges nearly 1,5%! 📈

• The prospect of further policy tightening by the ECB does not deter bulls
• The mood in Europe is supported by the strength of both U.S. and Asian indices, where Chinese indices rebound because of hopes that the PBOC will stimulate the economy
• Shares of Zalando, Sartorius, e.On and Covestro are doing well. Deutsche Bank loses close to 3%

The end of the most interesting week in June is exceptionally good for the German market, where the benchmark DAX, represented by them, enters new historical peaks. We can see DE30 futures rally (with even extened magnitude) due to the rolling of futures contracts ('three hags' - the third Friday of each final month of the quarter).

Despite the hawkish tone of yesterday's speech by Christine Lagarde and the accelerated by nearly €10 billion QT program at the ECB, investors continue to buy German 'bluechip' stocks. Also, hawkish statements by Bundesbank President Nagel and ECB's Wunsch did not put pressure on profit-taking. Although it is almost certain that the ECB will raise rates in July and possibly also in September, investors are positive about the overall labor market situation and positive consumer sentiment. In addition, Lagarde's statements allow investors to believe in a 'soft landing' of the European economy. Thanks to the strength of consumers, German companies can still pass on rising costs to customers. What is noteworthy, however, despite the scale of the current rallies, indicator analysis shows that at the moment the index itself is trading in a zone in line with the average, with a tilt towards undervaluation relative to it. However, it is worth noting that the values themselves are expected indications, prone to change. Source: xStation 5

German DE30 futures are trading up nearly 1.1% today, which takes into account the rollover of the index contract. The benchmark of German companies is climbing to new all-time highs. Source: xStation5