- European indices trade lower
- EU implements ban on Russian oil
- Siemens Healthineers (SHL.DE) raised its targets for the 2022
European indices launched today’s session lower ahead of a highly anticipated interest rate decision by the US Fed. Also investors digested the EU's newly announced sanctions against Moscow which include a gradual exit from Russian crude imports and extending the SWIFT ban to Sberbank, Russia's largest bank, further increasing Kremlin's isolation from the international financial system. The EU will end imports of crude oil within six months, and imports of refined products by the end of 2022.
DE30 has been moving downward in recent weeks and similar sentiment prevails today. On the one hand, index struggles to break above 100 EMA (purple line), on the other hand, local upward trendline halts sellers. Nevertheless volatility is rather limited as it seems that investors are restraining themselves from taking risky decisions prior to the Federal Reserve’s interest rate decision.
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Siemens Healthineers (SHL.DE) stock surged nearly 4.0% after the German medical device maker reported a 53% jump in adjusted Q2 EPS, boosted by diagnostics revenues, which includes rapid COVID-19 antigen tests.
Siemens Healthineers (SHL.DE) stock is currently testing the recently broken lower limit of the consolidation zone at €51.50 which coincides with 50.0% Fibonacci retracement of the upward wave launched in September 2020. Should break higher occur, upward move may accelerate towards local resistance at €55.15. On the other hand, if sellers manage to regain control, another downward move may accelerate towards support at €47.75. Source: xStation5
Volkswagen (VOW3.DE) stock jumped 0.7%, after major car producer uphold its outlook for the whole 2022 as Q1 operating results jumped 73%. Company said that higher margins at its premium car segment offset supply chain disruptions caused by the war in Ukraine and the coronavirus pandemic.
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