DE30 tests 14,050 pts support again

9:41 AM 13 April 2022
  • European stock markets trade lower

  • DE30 tests 14,050 pts support again

  • Deutsche Telekom increases T-mobile US stake to 48.4%

European stock market indices are trading lower today. Equities continue to underperform amid prospect of tighter monetary conditions, war-related uncertainty and weakening Chinese economy. German DAX (DE30) is one of European top laggards, dropping 0.6% at press time. Polish WIG20 (W20) is the only European blue chips index that manages to stay afloat. BoC decision later in the day (3:00 pm BST) should not have a major impact on stock markets.

Source: xStation5

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app

DE30 continues to trade within a downward channel. Index broke below the 14,050 pts support zone yesterday but failed to sustain the move and bulls managed to push the price back above it. Another test of the aforementioned support zone is being made at press time. Should we see a break below, the next support to watch can be found in the 13,800 pts area. Textbook range of a breakout from ongoing 14,050-14,350 pts trading range can be found slightly below this zone and around 60 points above the lower limit of the channel. Weakness on global stock markets is being more and more evident. While we do not see massive declines, any attempts of launching an upward move are quickly halted.

Company News

Deutsche Telekom (DTE.DE) bought T-mobile US shares from SoftBank Group worth $2.4 billion. Following a purchase of 21.2 million shares at an average price of $113 per share, Deutsche Telekom now holds 48.4% stake in T-mobile US. As the German telecoms hinted in the past it is interested in increasing its stake in US businesses, an attempt of acquiring a majority stake (>50%) cannot be ruled out.

Fraport (FRA.DE) reported a 217.9% YoY jump in the number of passengers in March 2022 at Frankfurt Airport. While passenger air traffic continues to recover from a Covid-19 hit with seat load factor increasing from 63.5% in February to 71.2% in March, the situation does not look as rosy when it comes to cargo volumes. Total cargo volume measured in metric tonnes dropped 13.1% YoY. Air freight volumes were 13.1% YoY lower while air mail volumes were 10.2% YoY lower. This is another hint of a looming economic slowdown.

Analysts' actions

  • Sartorius (SRT.DE) upgraded to "buy" at Berenberg. Price target set at €490.00

  • Adidas (ADS.DE) downgraded to "reduce" at Baader Helvea. Price target set at €190.00

  • Covestro (1COV.DE) downgraded to "hold" at Stifel. Price target set at €53.00

  • BASF (BAS.DE) downgraded to "hold" at Stifel. Price target set at €63.00

  • Aurubis (NDA.DE) downgraded to "add" at Baader Helvea. Price target set at €110.00

  • Siemens Energy (ENR.DE) downgraded to "neutral" at Exane. Price target set at €22.00

Deutsche Telekom (DTE.DE) continues to recover from a recent correction that pushed share price down to support zone marked with 50% retracement of downward move launched in August 2021. Stock broke back above the 200-session moving average (purple line) and is now testing the resistance zone marked with 61.8% retracement (€17.20 area). In case it is cleared, attention will turn towards recent local highs in the €17.80 area. Source: xStation5

Share:
Back

DE30

DTE.DE

Join over 1 000 000 XTB Group Clients from around the world

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol Expiration date 25 October 2024
test_cookie Expiration date 24 October 2024
adobe_unique_id Expiration date 24 October 2025
__hssc Expiration date 24 October 2024
SESSID Expiration date 2 March 2024
__cf_bm Expiration date 24 October 2024
intercom-id-iojaybix Expiration date 21 July 2025
intercom-session-iojaybix Expiration date 31 October 2024
xtbCookiesSettings Expiration date 24 October 2025
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings Expiration date 24 October 2025
userPreviousBranchSymbol Expiration date 24 October 2025
TS5b68a4e1027
intercom-device-id-iojaybix Expiration date 21 July 2025
__cf_bm Expiration date 24 October 2024
__cfruid
__cfruid
__cf_bm Expiration date 24 October 2024
__cf_bm Expiration date 24 October 2024
_cfuvid
adobe_unique_id Expiration date 24 October 2025
_cfuvid
TS5b68a4e1027
xtbCookiesSettings Expiration date 24 October 2025
SERVERID
TS5b68a4e1027
__hssc Expiration date 24 October 2024
test_cookie Expiration date 1 March 2024
__cf_bm Expiration date 24 October 2024
_cfuvid
_cfuvid
__cf_bm Expiration date 24 October 2024
__cf_bm Expiration date 24 October 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid Expiration date 9 September 2022
_gat_UA-98728395-1 Expiration date 8 September 2022
_gat_UA-121192761-1 Expiration date 8 September 2022
_gcl_au Expiration date 22 January 2025
_ga_CBPL72L2EC Expiration date 24 October 2026
_ga Expiration date 24 October 2026
__hstc Expiration date 22 April 2025
__hssrc
_vwo_uuid_v2 Expiration date 25 October 2025
_ga_TC79BEJ20L Expiration date 24 October 2026
_vwo_uuid Expiration date 16 October 2025
_vwo_ds Expiration date 15 November 2024
_vwo_sn Expiration date 16 October 2024
_vis_opt_s Expiration date 24 January 2025
_vis_opt_test_cookie
af_id Expiration date 23 February 2025
afUserId Expiration date 25 January 2026
af_id Expiration date 24 January 2026
AF_SYNC Expiration date 1 February 2024
_ga Expiration date 24 October 2026
_gid Expiration date 25 October 2024
_ga_CBPL72L2EC Expiration date 24 October 2026
__hstc Expiration date 22 April 2025
__hssrc
_ga_TC79BEJ20L Expiration date 24 October 2026
_gcl_au Expiration date 22 January 2025
AnalyticsSyncHistory Expiration date 31 March 2024

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID Expiration date 18 November 2025
_omappvp Expiration date 6 October 2035
_omappvs Expiration date 24 October 2024
_uetsid Expiration date 25 October 2024
_uetvid Expiration date 18 November 2025
_fbp Expiration date 22 January 2025
fr Expiration date 7 December 2022
_ttp Expiration date 22 January 2025
_tt_enable_cookie Expiration date 22 January 2025
_ttp Expiration date 22 January 2025
hubspotutk Expiration date 22 April 2025
IDE Expiration date 10 November 2025
YSC
VISITOR_INFO1_LIVE Expiration date 22 April 2025
hubspotutk Expiration date 22 April 2025
_omappvp Expiration date 11 February 2035
_omappvs Expiration date 1 March 2024
_uetsid Expiration date 25 October 2024
_uetvid Expiration date 18 November 2025
_ttp Expiration date 22 January 2025
MUID Expiration date 18 November 2025
_fbp Expiration date 22 January 2025
_tt_enable_cookie Expiration date 22 January 2025
_ttp Expiration date 22 January 2025
li_sugr Expiration date 30 May 2024
guest_id_marketing Expiration date 24 October 2026
guest_id_ads Expiration date 24 October 2026
guest_id Expiration date 24 October 2026
muc_ads Expiration date 24 October 2026
VISITOR_PRIVACY_METADATA Expiration date 22 April 2025
MSPTC Expiration date 18 November 2025
IDE Expiration date 18 November 2025
MSPTC Expiration date 18 November 2025

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
bcookie Expiration date 24 October 2025
lidc Expiration date 25 October 2024
UserMatchHistory Expiration date 31 March 2024
bscookie Expiration date 1 March 2025
li_gc Expiration date 22 April 2025
bcookie Expiration date 24 October 2025
li_gc Expiration date 22 April 2025
lidc Expiration date 25 October 2024
personalization_id Expiration date 24 October 2026

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language