- DAX gains slightly after last week's weak end
- Adidas launches internal investigation into potential bribery allegations
- Investor attention turns to speeches by Fed and ECB bankers
Overall market situation:
This week's first trading session on European markets brings an attempt to strengthen investor sentiment after last week's weak end. The German DAX gained nearly 0.5% today, but by now much of the initial gains have been erased. On the corporate side, high volatility is seen today on Adidas and Evotec stocks. Investors' attention turns today to comments from ECB bankers and the Fed.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Volatility observed today in the DAX index. Source: Bloomberg Financial LP
Volatility currently observed in the broad European market. Source: xStation
Germany's benchmark DE40 is up nearly 0.3% during today's session. The index continues to remain in the structure of the downtrend initiated on May 16. The continuation of the downward trend led to the testing of a historically important support level in the zone of the 100-day exponential moving average (purple curve on the chart, all the time it remains a key support point). Locally, the most important resistance all the time remains the zone of the 50-day exponential moving average (blue curve). Source: xStation 5
News:
Adidas (ADS.DE) has launched an internal investigation into bribery allegations at its Chinese company following a whistleblower complaint accusing senior employees of embezzlement. The company's shares are losing nearly 1.7% today.
Shares of Evotec SE (EVT.DE) were downgraded to a "sell" rating by Intron Health. Target price set at €7.
Shares of ING (ING.NL), the largest Dutch lender by assets, gained 2.5% after the bank forecast total revenue growth of 4% to 5% per year between 2024 and 2027.
Shares of SSP Group (SSPG.UK), a British food service operator, lost nearly 3.7% today after Goldman Sachs downgraded the company's stock to "sell" from a "neutral" rating.
Other news coming out of individual companies in the DAX index. Source: Bloomberg Financial LP
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.
