Daily Analysis DAX40 - 3 Aug 2023

European shares experienced their third consecutive decline on Thursday, mainly influenced by elevated U.S. bond yields and disappointing earnings reports, dampening sentiment before the Bank of England's interest rate decision.

The German DAX index suffered the most significant losses, particularly due to Infineon's 9% drop after the chipmaker predicted a decrease in fourth-quarter revenue amid a mixed picture in the semiconductor market.

London Stock Exchange Group's shares fell 3.5% following the announcement of its first-half numbers.

However, there were some positive developments as well. Shares of Societe Generale, France's third-largest listed bank, surged 3%, and ING Groep, the largest Dutch bank, rose 1.4% after reporting better-than-expected quarterly earnings.

Anheuser-Busch InBev saw a nearly 2% climb after the world's largest brewer reported higher-than-expected second-quarter earnings and maintained its 2023 forecast, supported by China's gradual post-COVID recovery and strength elsewhere.

Globally, stocks faced pressure as U.S. bond yields reached nine-month peaks following robust private jobs data and Washington's announcement regarding the refunding of maturing debt.

DAX continues the selloff and the support level of 15800 is important followed by the 15500.

Resi Level 3	Resi Level 2	Resi Level 1	Suppo level 1	Suppo level 2	Suppo level 3
16600	16400	16200	15650	15400	15200