US indices marked a pretty stellar session yesterday with the NASDAQ (US100 on xStation5) leading gains. The technological index picked by as much as 1.42%. Moreover, the SP500 (US500) climbed by 0.83% while the Dow Jones (US30) rose 0.68%. These upbeat moods impacted Asian indices as well which, in turn, affected the opening in European bourses. 

There are quite decent gains across the European indices with the CAC40 (FRA40) being the top performer. The French index gains 0.5%. Furthermore, the German DAX picks up 0.41%, the Eurostoxx50 (EU50) rises 0.46% and the British FTSE100 (UK100) climbs 0.45%.

However, in Asia there was volatile day as just the Japanese NIKKEI (JAP225) managed to close above the break even gaining 0.81%. Besides, the Shanghai Composite (HKComp), the Hang Seng (CHNComp) and the Australian S&P/ASX 200 ended their session lower losing 0.14%, 0.5% and 0.83% respectively. 

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 The German DAX trades higher following rosy session across the US as just four stocks lose their ground. Source: Bloomberg

Looking at the chart above one could notice that the best performing stock is ProSiebenStat (PSM.DE). The company is gaining momentum following reports that private-equity investor CVC Capital Partners is buying the firm’s online travel business Eltraveli in a deal valuing the unit at 508 million euros. According to the statement provided by CVC the online travel sector is dynamic and fast-growing, and Eltraveli is a clear front-runner due to its data-driven approach and highly scalable business model. 

In turn, the Deutsche Bank (DBK.DE) is rising after the report that Borislav Ivanov-Blakenburg, head of Deutsche Bank’s Ukrainian unit, may be named head of the bank in Russia. However, it has not been confirmed by the DB as of yet. 

Gains are being observed on Infineon Technologies (IFX.DE) as well as the company received “Supplier of the Year Award” by the Japanese automotive system supplier DENSO. DENSO said that the award given to the supplier demonstrates commitment to exceptional quality and logistics performance. 

On the other hand, we have Bayer (BAY.DE) as the company’s CEO Baumann sees potential for small pharma deals after Monsanto. However, Baumann thinks that there is no need for rush on pharma deals while he expresses upbeat attitude when it comes to finalizing acquisition of the Monsanto by year-end.

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The German DAX managed to reach new all time highs in early deals today following S&P and Dow Jones. Source: xStation5

The German DAX is continuing its upward momentum for over a month now. Along with S&P 500 (US500) and Dow Jones (US30) it managed to reach new all time highs in early deals today. An initial move originated from 12580 – 12527 support area and since then, the index has risen over 400 points. Vigorous reactions, circled in red, represents inexhaustible appetite for German stocks as the index makes new all time highs. The most recent move to the upside started between 12619 and 12659 being strong support now. Area embedded between 12751 and 12791 could be potential trading opportunity with the trend direction.