dusseldorf At the start of the Frankfurt stock exchange, investors were cautious on Wednesday. In the first few minutes of trading, the German leading index was barely changed by 15,100 points.

“He dax so far it has successfully prepared against a major setback. However, positive momentum is missing for a further price increase,” explained analyst Thomas Altmann of QC Partners. On Tuesday, the Dax closed down 0.1 percent at 15,093 points.

Only a few impulses came from Asia on Wednesday: stock markets in China, Hong Kong, Singapore, Malaysia, South Korea and Taiwan remain closed for the Chinese New Year and won’t reopen until January 30. Japanese stock markets posted slight gains.

From the USA get mixed signals: The blue-chip Dow Jones index gained modestly, but the broader S&P 500 and the Nasdaq technology index lost some. Attention turned to continuing the reporting season.

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In Germany, too, many market participants are awaiting the release of more economic data and company balance sheets, due Wednesday. “So far, the company’s numbers haven’t been too bad, but investors aren’t too happy either,” said market strategist Christian Henke of trading house IG.

The focus is mainly on the manufacturer of electric cars. tesla and the American aircraft manufacturer Boeingboth presenting their numbers.

Investors are also awaiting the publication of the business climate index, which the Ifo Institute presents for the first time in the new year. Experts expect the barometer to rise to 90.2 points from 88.6 points in December.

The federal government also submits its annual economic report. According to initial information, the government is no longer planning a recession in 2023, but expects the economy to grow by 0.2 percent. Also, economists expect a slightly lower inflation rate of 6.0 percent.

Since the beginning of the year, the Dax has posted strong price gains: the leading index is up 8.4 percent overall. Market participants are counting on the economic development in Germany not to be as bad as initially feared.

Look at the graph technique.

The Dax continued to hold above the 15,000 point mark on Tuesday. This area remains in focus. The first stop-loss marks, which investors use to protect themselves against falling prices, are likely to be just below this level.

From a technical point of view, a healthy consolidation would be beneficial. There is additional technical support in the area around 14,800 points, as well as short-term support around the current price level of 14,980 points. On the positive side, technical resistance stands at 15,365 points.

Look at the euro and oil

Oil prices rose slightly in early trading on Wednesday. In the morning, a barrel (159 liters) of North Sea Brent for March delivery was priced at $86.52. That was 32 cents more than the day before. The price of a barrel for US-grade WTI rose 22 cents to $80.35.

The euro continued to trade near the $1.09 mark on Wednesday. In the morning, the common currency traded at $1.0895, slightly higher than the previous night. The exchange rate thus stands slightly below its highest level for about nine months. The European Central Bank had set the reference rate at $1.0858 the day before.

Look at the individual values

Rheinmetall: actions of rheinmetall increased about three percent. According to media reports, Germany will deliver the Leopard main battle tank, made by the armaments company, to Ukraine. “While the direct financial impact would be limited, it would create very positive sentiment for the stock,” a trader said.

More: Which stocks benefit from falling inflation

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