Weak guidelines from the USA and mixed signals from the Asian trading centers are causing problems for the INDEXDB DAX in the middle of the week and should lead to losses in the opening phase.
Dax Index is currently at 10680, which is about 150 points lower than yesterday’s closing position. The Dax fell back below 10750 after a weak Wall Street session yesterday, moving the future back into the range 10400/10750
Last Monday’s ‘hanging man’ was confirmed as a top pattern yesterday with a decline. With this, the price has returned to the range and it seems that the upward outbreak has been a false one.
Wirecard, Eon, Deutsche Bank and MTU shares are among the biggest losers in the leading index on Wednesday. Technology stocks like SAP and Vonovia lose less than the overall market. The Lufthansa share also holds up well.
Deutsche Bank is pushing ahead with the job cuts temporarily put on hold by the Corona crisis. “If we continue to pursue our transformation program, we (…) will have to consistently cut costs further. Unfortunately, this also means that we have to implement the job cuts as planned,” emphasized CEO Christian Sewing in the written speech published in advance on Tuesday evening Annual General Meeting of the Frankfurt Dax Group. Germany’s largest money house is in the middle of a far-reaching renovation. By the end of 2022, the Executive Board plans to reduce the number of full-time positions in the Group by around 18,000 to 74,000 worldwide