- DE30 is struggling to break out of 13,790
- Daimler Trucks (DTG.US) expects strong demand for 2023 despite fears of a recession
- Siemens (SIE.DE) reports the first quarterly loss in 12 years
Sentiment is mixed as the DE30 is up around 0.15% in European markets while the CAC40% and FTSE100% are down 0.12% and 0.35% respectively as investors read yesterday’s US inflation numbers process while gas prices in the old continent continue to rise.
DE30 fell after buyers failed to clear the recent high of 13,790 points and break the lower boundary of the ascending channel. If the sellers manage to stay in control there could be another downtrend towards the local support at 13,535. Source: Xstation 5
shares of Siemens (SIE.DE) The first-quarter loss in nearly 12 years fell 0.85% after a writedown at Siemens Energy by the machinery and technology group.
Siemens (SIE.DE) stock initially fell after weak quarterly results, but buyers were able to recoup a massive loss. However, as long as the price remains below the downtrend line, the underlying sentiment remains bearish. Source: Xstation 5
shares of Deutsche Telekom (DTE.DE) fell 0.4%, despite the company raising its full-year guidance for the second time and reporting solid core earnings for the quarter.
Daimler Trucks (DTG.US) The plan is to keep prices higher even as some costs begin to fall to offset last year’s lower profits. The company expects demand to remain strong next year despite concerns of a growing slowdown.
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