• European stock market start the week mixed
• Coronavirus cases are on the rise in Europe
• Deutsche Telekom (DTE.DE) stock is testing local resistance level
• Coronavirus cases are on the rise in Europe
• Deutsche Telekom (DTE.DE) stock is testing local resistance level
Moods during the European session are mixed as investors remain concerned about the coronavirus pandemic and simmering US-Sino tensions. The number of Covid-19 infections continues to surge across Europe. France reported over 3,000 new coronavirus cases for a second consecutive day. Italian government ordered the wearing of masks mandatory between 6 PM and 6 AM in public places. Also open-air discos and nightclubs have been shut. Tourists coming from Croatia, Greece, Malta or Spain are also now tested for coronavirus upon arrival in Italy. Meanwhile, President Trump issued an executive order on Friday to force the TikTok owner to sell its US assets within 90 days and said that he could exert pressure on more Chinese companies such as technology giant Alibaba. Also trade deal review which was scheduled for the weekend did not take place and has been postponed.
DAX (DE30) has been trading in a local sideways move recently. The price bounced off the lower limit of consolidation range (12 800 pts) at the end of last week. Should upbeat moods prevail, higher limit of the consolidation zone (13100 pts) may come into play. Source: xStation5
DAX members at 10:28 am GMT. Source: BloombergVolkswagen (VOW3.DE)'s Porsche (PAH3.DE) plans building a new plant to make car bodies in Slovakia. This investment could create up to 1,200 work places, Slovak newspaper Dennik N reported on Friday. Porsche already has one factory in the country and it has been constructing a development centre.
Majority of the Lufthansa (LHA.DE) cabin crew chose to endorse a deal to stop pay rises and reduce working hours, the UFO trade union informed on Saturday as the German airline is trying to reduce losses caused by the coronavirus pandemic.
Deutsche Telekom (DTE.DE) announced on Thursday it was diversifying its suppliers of equipment to build its 5G networks as concerns remain over whether to bar China's Huawei Technologies from the German market.
Deutsche Telekom (DTE.DE)- stock has been trading in a local sideways move recently. Last week price again bounced of the local resistance at €15.56. Today, one can see that the downward move is being continued. If the current sentiment prevails, support at €14.33 may be at risk. However if buyers manage to take control on the market, then upward move into €16.28 is possible. Source: xStation5
