Wednesday’s session started with good data from China (trade balance better than expected). It didn’t improve situation on Shanghai Composite Index and Chinese stocks fell -2.42%, despite this European investors started session in good moods. German DAX started high with 110 pips of bullish gap. Optimism lasted for only 2 hours and session’s high at 10,165 pts was set on the first hour of trade. Data about industrial production in Eurozone was really weak. Bulls managed to keep gains for few more hours and DAX was above 10,000 pts. Before start of session in the US situation was very nervous. American indices were on green zone for only 30 minutes and decreases started.
European session ends hours before Wall Street end, so stocks will discount US decrease in the beginning of Thursday’s session. Europe ended around zero: German DAX -0.25%, British FTSE100 +0.28%, French CAC40 +0.30%. 19 out of 30 DAX companies lost, the most BMW -2.31%, Continental -2.14%. Good situation on companies from energy sector after recommendation from Deutsche Bank, E.ON +4.05%, RWE +3.58%.
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The beginning of Thursday’s session will be determined by mentioned news which happened after end of session. Decreases more than 3% are usual in China but not in Wall Street. NASDAQ -3.41%, S&P500 -2.5%, DOW -2.24%. We can predict influence on DAX, because DAX futures lost 200 pts at night. The closest supports: 9,660 pts, 9,420 pts. The closest resistances: 9,800 pts, 9,970 pts.
