Solid News

DAX 30 Market Update

8/25/2022 2:12 PM

Quotes of the leading index of the Frankfurt Stock Exchange DAX 30 have slowed down their growth and are currently being corrected at around 13264.0 in anticipation of a meeting of the European Central Bank (ECB).

On September 8, the regulator will meet to make a decision on the interest rate. Now the value is 0.50% and this does not exert serious pressure on the stock market; however, if officials adjust the indicator upward to combat record inflation in the region, the situation may change, and the first prerequisites for this are already being observed. Thus, futures for the future interest rate in the EU assume an immediate adjustment of 1.00%, which was caused by a sharp increase in the price of gas, which reached up to 3.100 thousand dollars per thousand cubic meters on the London Intercontinental Exchange.

In the domestic bond market, growth slowed down somewhat, but this is not enough to mitigate the pressure on the stock index. The yield on 10-year German Treasuries is 1.3660%, just below the mid-summer peak of 1.700%.

The growth leaders in the index are Sartorius AG (+4.16%), Puma SE (+2.52%), Beiersdorf AG (+2.51%), Qiagen NV (+2.15%).

Among the leaders of the decline are HeidelbergCement AG (-2.71%), E.ON SE (-2.68%), Fresenius SE (-1.72%).

On the weekly chart of the asset, the price is trading within a Triangle pattern, approaching the support line. Technical indicators reversed towards decline: the fast Alligator indicator EMAs crossed the signal line from above, and the histogram of the AO oscillator moved to the sales area, forming descending bars.

Support levels: 13022.0, 12540.0. | Resistance levels: 13442.0, 13965.0.

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