Dashboard

Solid News

DAX 40, German Stock Market Continues Its Uptrend

11/23/2022 1:07 PM

The Frankfurt Stock Exchange's leading index, the DAX 40, corrects higher to trade at 14480.0 on positive news from the corporate sector.

One of the leading energy companies in Europe, Enel S.p.A., announced its intention to sell up to 21.0 billion euros of its non-core assets to increase financial stability, as it plans to increase capital expenditures for the period from 2023 to 2025. In turn, shares of medical device maker Fresenius SE are rising as the company's management announced the placement of two tranches of bonds worth a total of 1.0 billion euros in order to raise the necessary funds for corporate-wide needs.

Macroeconomic statistics, in turn, do not contribute to the growth of DAX 40 quotes. In October, the German Producer Price Index lost 4.2% after rising 2.3% a month earlier, lowering the annual rate of growth to 34.5% from 45.8%. Today, data on business activity is expected to be published: current forecasts suggest a decline in the Services PMI to 46.2 points from 46.5 points a month earlier, and in the Manufacturing PMI to 45.0 points from 45.1 points.

The growth leaders in the index are Covestro AG (+4.54%), Siemens Energy AG (+2.44%), Brenntag SE (+2.07%), BASF SE (+1.75%).

Among the leaders of the decline are Zalando SE (-2.25%), Fresenius Medical Care (-1.67%), Vonovia SE (-1.64%).


On the daily chart of the asset, the price is trading above the resistance line of the descending channel, actively rising and reaching the highs of this spring.

Technical indicators maintain a steady buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO oscillator histogram, being deep in the buy zone, is forming new ascending bars.

Support levels: 14270.0, 13570.0. | Resistance levels: 14720.0, 15430.0.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024 SolidECN.com