DE30: DAX knocks out local highs!

10:00 4 April 2023
  • European markets gain in the early afternoon

  • Morgan Stanley deletes only negative rating on Evotec company

  • Investor attention focuses on durable goods orders report and central bankers' speeches

Tuesday's session on European markets brings relatively positive sentiment among most benchmarks from the Old Continent. The major banking and automotive sectors are doing very well. Investors' attention today is focused primarily on the US durable goods orders reading. No less important will be the statements of several central bankers. The mood in Europe during Tuesday's trading session is relatively positive. Values of individual companies are gaining for the most part. European automotive companies and banks are doing very well today. Source: xStation 5

A German government coalition bill in Germany has issued a draft resolution requiring the public and private sectors to reduce electricity consumption by 26.5% by 2030. Between 2008 and 2020, Germany reduced consumption by 6%.

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Volkswagen (VOW1.DE) says there are still open issues in a Russian court, which has partially lifted restrictions on its assets, preventing the planned sale of the Kaluga plant. A lawsuit by the GAZ Group, which wants to recover 15.6 billion rubles in damages from Volkswagen for the termination of an assembly contract, continues to linger in the background. VW's shares are currently gaining nearly 0.5%.

Evotec (EVT.DE) shares are gaining today on the back of the loss of the only negative recommendation imposed on the company by investment banks. Morgan Stanley reversed its negative outlook and rated the company's shares at "equal-weight." The target price was set at €22 per share, 13% higher than the share price at the end of yesterday's session. Evotec shares are currently gaining nearly 3.5%.

Changes in the institution's holdings in individual companies of the DAX index (data from the last session). Source: Bloomberg

The largest percentage changes and information from individual companies in the DAX index. Source: Bloomberg

DE30 chart

Futures based on the German DAX Index (DE30) are trading higher today and have broken out above the resistance level set by recent local peaks (15,700 points). Source: xStation 5    

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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