- European exchanges extend weekly losses
- FED's Barr speech and Canadian labour market data on the calendar
- DE30 at important support levels
The last session on European markets this week brings declines in most stock indices from the Old Continent, which thus appear to extend the downward pressure seen throughout the week. However, the macroeconomic calendar itself for today's session does not contain a large number of important readings. Market volatility may be raised by, among others: the Canadian labour market report and the Fed's Barr speech. The revision of CPI data from Germany came in line with expectations.
At the moment, the majority of companies listed in Europe during Friday's trading session are trading down on a daily basis. Source: xStation 5
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Futures based on the German DE30 are losing nearly 0.70% today, and are now within the technically important support zones defined by the local minima of April, July and August this year. Moreover, these levels are in relatively close proximity to the 200-day exponential moving average (golden curve). Source: xStation 5
News:
- Moderate declines are being attempted to be resisted by the shares of Porsche (P911.DE), which are reacting to yesterday's announcement of a new Lotus car model called the Emeya, which is expected to be a direct competitor to the Taycan Turbo S from Porsche (in terms of acceleration, among other things). Sales of the car are expected to start next year; the price is not known.
- Shares in French supermarket chain Casino Guichard-Perrachon SA (CO.FR) are gaining nearly 4% in today's session after a wave of sell-offs hit the struggling company in terms of debt repayment. What's more, as a result of the inability to repay the loan, drawdowns will be triggered for holders of derivatives protecting against this event. Casino will be excluded from the SBF-120 Paris equity index, Euronext announced on Thursday (as of 18 September).
- STMicroelectronics (STM.IT) shares recovered some of the morning's declines triggered by fears that China will impose restrictions on Apple's iPhones.
The largest percentage changes in individual companies of the DAX index. Source: Bloomberg Finance L.P.
Information from individual companies in the DAX index. Source: Bloomberg Finance L.P.
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