- European stock markets opened mixed
- DAX swing between gains and losses
- HelloFresh (HFG.DE) shares plunged on weak 2022 guidance
European indices launched today's session in mixed moods following yesterday's big gains of more than 2% as traders weighed the effectiveness of existing vaccines against the Omicron coronavirus variant. German BioNTech (BNYX.US), which is producing COVID-19 vaccines in cooperation with Pfizer (PFE.US), stock slid over 6.0% after a study showed that the Omicron variant can partially evade protection from two doses of their COVID-19 vaccine. An earlier study showed that GlaxoSmithKline's (GSK.UK) antibody-based treatment developed together with Vir Biotechnology (VIR.US), was effective against it. Wednesday also sees the end of an era in Germany as Olaf Scholz will become chancellor, replacing Angela Merkel.
DE30 took a breather after the recent rally. On Monday index bounced off the support zone at 15070 pts which is marked with lower limit of the 1:1 structure, 23.6% Fibonacci retracement of the upward wave launched in October 2020 and 200 SMA (red line). Yesterday the German benchmark extended upward move and broke above local resistance at 15500 pts which now act as support. If current sentiment prevails, upward move may accelerate towards all-time high at 16325 pts. Source: xStation5
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Hellofresh (HFG.DE) stock plunged more than 6.0% after the meal-kit company posted underwhelming outlook for 2022 earnings.
Hellofresh (HFG.DE) stock launched today’s session with a bearish price gap, however sellers failed to stay below major support zone around €79.30, which coincides with long-term upward trendline and 38.2% Fibonacci retracement of the last downward wave. As long as the price sits above, further upward move towards all-time high at €97.40 is possible. Source: xStation5
Umicore (UMI.BE) stock fell over 5% after the Belgian chemicals and recycling company revealed plans to establish a battery materials venture to supply Volkswagen's (VOW3.DE) battery cell production as the German carmaker expands electric vehicle output.
Infineon (IFX.DE) dropped nearly 3% after Morgan Stanley downgraded the chipmaker stock to "equal-weight".
Tui (TUI.DE) stock dropped nearly 3.0% after the tour operator recorded an annual loss of over 2 billion euros and warned that the news around Omicron had slowed bookings.
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