Solid News

DAX 30 Market Update

8/17/2022 1:35 PM

The leading index of the Frankfurt Stock Exchange DAX 30 is correcting upwards, trading at 13947.0 after the publication of positive reports from its components.

The day before, financial data were presented by the chemical-industrial group Henkel AG & Co. KGaA, having posted quarterly revenue of 5.64 billion euros, which exceeded the 5.36 billion euros expected by analysts. The EPS was 0.9126 euros, while the forecast was at the level of 0.8813 euros. In turn, one of the largest German food delivery services HelloFresh SE reported income of 1.96 billion euros, which was better than the projected 1.9 billion euros. The EPS figure also beat expectations, amounting to 0.35 euros per share. Finally, HelloFresh SE's main competitor, Delivery Hero SE, reaffirmed its financial targets for 2022, saying it expects turnover growth of around 7% in the third quarter.

Yesterday, an auction was held on the domestic bond market to place 5-year German treasury securities, the rate on which was 0.710%, which was much lower than the previous placement of 0.960%. In turn, the most popular 10-year government bonds are trading for the second week in a row around 0.965%, having slightly increased since the beginning of the month.

The growth leaders in the index are RWE AG (+2.69%), Porsche Automobil Holding SE (+2.60%), Continental AG (+2.59%), Covestro AG (+2.17%).

Among the leaders of the decline are Zalando SE (-2.16%), Qiagen NV (-1.61%), HelloFresh SE (-1.43%).


On the weekly chart of the asset, the price continues to attempt to consolidate in the uptrend, approaching the resistance line of the downward channel. Technical indicators have already reversed towards growth and issued a buy signal: the fast EMAs of the Alligator indicator are way above the signal line, and the histogram of the AO oscillator, having moved to the buy zone, is forming ascending bars.

Support levels: 13533.0, 12530.0. | Resistance levels: 14260.0, 15070.0.



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