- DAX gains at the end of the week
- Norma’s management plans to sell the Water Management unit
The end of the week on the European stock market brings gains for most of the stock indices listed on the Old Continent. Germany’s DAX is currently adding 0.47%, France’s CAC40 is up 0.26%, and Britain’s FTSE100 is losing 0.12%. Investor attention today focused on corporate news and inflation data.
Sentiment in the European stock market improved today. The largest declines today are seen primarily in the tech equipment and biotechnology sectors. In contrast, fashion and the financial sector are doing relatively well. Source: xStation5
Among the companies in the DAX index, the largest increases are currently seen in the stocks of MTU Aero Engines and Airbus. Source: Bloomberg Finance L.P.
DE40 (D1 interval)
The DAX broke above the 50-day exponential moving average (blue curve on the chart) a few days ago and tested another important resistance point, which was the local top of the session consolidation zone from the beginning of the second half of November. From a technical point of view, the DE40 appears to maintain its overall uptrend until the 100-day curve (purple curve) is broken on high volume, so it is worth looking now to see if the index manages to stay above this zone permanently. If such a scenario were to take place, it could mean an increase in the chances of a general continuation of the upward trend. On the other hand, staying between the previously mentioned exponentials may encourage the bearish side to break them and initiate a deeper downward correction.
Source: xStation5
News
Norma’s (NOEJ.DE) management plans to begin the process of selling its Water Management unit. The company plans to focus operations on its core industrial business. The company’s shares are gaining nearly 16% today following this news.
Delivery Hero SE (DHER.DE) has set the final price in Talabat Holding’s IPO at AED 1.60 per share, according to a statement, putting the deal on track to become the largest IPO in the technology sector this year. Delivery Hero will raise nearly AED 7.5 billion (about $2 billion) through the Talabat offering, selling 20% of the company’s shares.
European mining companies are gaining ground today as China’s steel industry showed some signs of improvement and hopes that Beijing will implement more stimulus before the end of the year. What’s more, sentiment in this market is supported by rising iron prices on exchanges for several days.
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