Daily Analysis DAX40 - 19 July 2023
European shares experienced an increase on Wednesday, supported by positive news related to Kering and other notable companies. Kering saw a significant rise of 6.5% after announcing Jean-Francois Palus as the new CEO and president of Gucci during a transitional period, replacing Marco Bizzarri who will depart on September 23.
In addition, Dutch semiconductor equipment maker ASML reported better-than-expected second-quarter net profit of 1.9 billion euros ($2.13 billion) and raised its full-year sales forecasts. Handelsbanken and AB Volvo, both based in Sweden, also provided encouraging updates. Furthermore, Renault attracted attention following reports from Reuters that Nissan and the French carmaker are expected to make an announcement in the coming days regarding their restructured alliance.
The DAX came back toward the 16,200 level. In the short term, the DAX remains bullish due to the prevailing risk-on sentiment in the markets, Q2 earnings started positive and better than expected which may help the Dax reach the last high at 16400.
|
Resi Level 3 |
Resi Level 2 |
Resi Level 1 |
Suppo level 1 |
Suppo level 2 |
Suppo level 3 |
|
16800 |
16600 |
16370 |
15650 |
15400 |
15200 |