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DE30 extends upward corrective impulse
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Eurozone's sentiment weakens in MoM terms
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Markets gain on wave of better debt limit announcement
Tuesday's session on European markets brings a slight improvement in investor sentiment, with investors reacting all the while to optimistic comments on the US debt limit. The German DAX today extends the corrective impulse after recent declines and rises above the 16 000 point barrier. Investors' attention will focus primarily on the Conference Board and Dallas FED readings from the US today. Eurozone's sentiment has deteriorated from the last reading.
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The mood in Europe during Tuesday's trading session is relatively positive. The worst performing sectors at the moment are fuels and petroleum products, pharma and banks. Quotes are supported by automotive, software and semiconductor companies. Source: xStation 5
News:
The shares of Siltronic (WAF.DE) are gaining more than 5.5 per cent during today's session due to an upgraded recommendation from Jefferies. Analysts at Jefferies commented that much of the negative news surrounding the company had already been priced into the shares, prompting the entity to hand the company a 'buy' rating from its previous 'hold'. Target price set at €95 vs. previous €75.
Shares of Siltronic (WAF.DE), D1 interval. The shares are currently struggling to break above the resistance structure defined by the local peaks tested earlier. Source: xStation 5
Aroundtown (AT1.DE) is currently up over 2% following the release of better-than-expected Q1 financial results. The company reported asset sales of €320m for the year (pending) and communicated that it intends to buy back more of the bonds it has issued. Morgan Stanley communicated that these actions indicate that the company remains focused on its strategy to improve its liquidity ratios.
Detailed results and forecasts from the company. Source: Bloomberg
However, the company is still trading in a downward spiral. Source: xStation 5
Major percentage changes and information from individual companies in the DAX index. Source: Bloomberg
DE30 chart
Futures based on the German DAX index (DE30) are extending the rebound after recent declines and attempting to break above yesterday's highs. Source: xStation 5
