The DAX-30 index opened mixed this morning, just like most European indices. The market is trading above 12,200pts after bull traders defended the 13,190pts zone in early trading moves. The short-term bullish trend isn’t threatened yet, despite the recent consolidation phase, as prices remain inside their bullish channel so far.
The best performers are in the industrial sector with Infineon Technologies trading 6% higher following a strong 4Q report which beat estimates. The company’s share price went flying after the recent report showed a 4Q segment result margin of 15.1% (vs 14.4% expected) as well as an anticipation of 5% revenue growth for 2020, which strongly revived investors’ risk appetite towards the company.
Photo by Claudio Schwarz Purzlbaum.
Elsewhere, a similar situation has been observed on Deutsche Post after the company reported a 3Q EBIT of EU942M, which topped the highest estimations. In addition, investors welcomed the announcement made by CFO Melanie Kreis who said 3Q was good and progress towards the company’s full-year 2019 targets have been made.
