DE30 defends the lower end of the trade range | News

  • European stock markets are trading higher
  • The DE30 bounces off the support of 13,400 points
  • Gerresheimer recovers from a failed takeover

European stock indices are higher on Wednesday. The moods in the global market improved after the publication of better than expected monthly economic data from China. The main Western European indices are now trading 1.0-1.5% higher. The Polish WIG20 (W20) is a laggard, falling by 0.9%. The Italian FTSE MIB (ITA40) is the best of the day, with an increase of 3%.

The FOMC decision at 20:00 is the main macro of the day and is likely to lead to higher volatility in the currency and equity markets. In addition, the ECB will hold an extraordinary meeting today to discuss the bond market situation which, depending on the outcome, could affect other markets.

Source: xStation 5

The DE30 fell below the support zone with 61.8% retracement of March’s growth in the area of ​​13,400 yesterday. However, the attempt to return through this obstacle can be seen today. The market sentiment improved overnight, and with the start of the European session a strong bullish action started. However, some of these benefits have already been eaten. The lower end of the broad trading range of 13,400-14,650 points seems to have been defended and a rebound towards the upper boundary may be imminent. However, a drop below 13,400 points would again worsen the outlook significantly.

corporate news

Gerresheimer (GXI.DE) today by over 10%. Bloomberg reports that the firm has rejected a takeover offer by private equity firm Bain Capital. The valuation proposed by Gerresheimer was too high.

European Aviation Safety Agency Airbus (AIR.DE) in a dispute with Qatar Airways. EASA said its investigation did not find evidence of any problems with the safety of the A350. The Qatar airline said it discovered defects that put the plane at risk and grounded 20 of its A350 jets. Airbus later canceled backlogs from Qatar Airways as the two went to court.

Gerresheimer (GXI.DE) recovered from a Bloomberg report on a failed takeover attempt. The shares rebounded from the lower bound of the last trading range of $ 64.00-73.50 and tested the upper bound which is further strengthened by the downtrend line. The first attempt to break through to the top today failed. Source: xStation 5

Disclosure under 80 WpHG for possible conflict of interest

The author is not currently investing in these securities or underlying instruments.

The authors of the publication collect this information at their own risk. Analyzes and opinions are not written in relation to specific investment goals and the needs of a particular person. XTB publications commenting on specific situations on financial markets and general statements of XTB employees regarding Financial markets, do not constitute and should not be interpreted as advice to the client from XTB. XTB shall not be liable for any losses arising directly or indirectly from any decision to act related to the content of the Publication.

Risk Notification

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money. Investment success and past returns do not guarantee future success. The content, newsletters and communications from XTB do not constitute any means of operation of XTB.

Leave a Comment