Wednesday's session on European markets started relatively flat, with the major stock indexes showing little deviation. Slightly better sentiment is provided all the time by the easing of tightening in China. As yesterday, the calendar of macro readings scheduled for today is relatively poor, so investors should analyze the situation around specific companies and weigh new information coming from sectors.
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Open account Try demo Download mobile app Download mobile appThe first part of today's trading session brings little change in the valuations of the benchmark German blue chips. DE30 contracts are currently holding above the support set by the 50-day exponential moving average. The current quotations also remain within the 50% Fibo elimination zone. Source: xStation 5
News:
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German automotive companies are clearly performing poorly today. Porsche (P911.DE) shares are currently losing 1.5%, Mercedes-Benz (MBG.DE) shares are down nearly 0.2%, and Volkswagen (VW.DE) is down nearly 0.5%.
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Barclays has decided to raise its recommendations for the shares of Airbus (AIR.DE) and Deutsche Telekom (DTE.DE) to "buy." The target price for Deutsche Telekom (DTE.DE) shares was raised from €23.5 to €25.
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Sentiment is slightly better among companies such as Adidas (ADS.DE) and Zalando (ZAL.DE), which may be related to increased consumer shopping during the holiday season.
Despite today's dismay in the markets, there are several industries that are showing better or worse sentiment. Companies in the oil, luxury goods and metals sectors are doing well. Improved sentiment may be helped in this case by easing restrictions in China, Russia's decision to ban oil sales to countries agreeing to price caps, and improved sentiment among the commodity and precious metals markets. The automotive industry, which may fear the onset of a prolonged recession in Europe, is performing poorly. Source: xStation 5
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