Positive economic data are pushing the stock market today, and Commerzbank shares are also there. In addition, the rotation continues towards the previous corona losers. The mark of five euros was easily exceeded today, the rally continues.
The publication of the preliminary purchasing managers’ indices this morning gave the markets new momentum. In the manufacturing sector, the mood was 57.9 points after 58.2 in the previous month. The service index fell to 46.2 from 49.5. Although sentiment has eased somewhat, the upward trend in manufacturing remains intact. Values above 50 indicate growth and vice versa. Given the current lockdown, it should not have surprised any market participant that the service index has fallen significantly.
Commerzbank
(WKN: CBK100)
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Since the break of the Corona downward trend, the share has no longer stopped. The medium-term upward trend that has existed since May has accelerated, the price is now next in front of the horizontal at EUR 5.35, after which the focus moves to the resistance at EUR 5.75. The lines at five euros and 4.86 euros serve as supports.
Investors do not give a piece out of hand.
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Note on conflicts of interest:
The Chairman of the Board of Management and majority owner of the publisher Börsenmedien AG, Mr Bernd Förtsch, has taken direct and indirect positions on the following financial instruments referred to in the publication or related derivatives that will benefit from any price development resulting from the publication: Commerzbank.
Commerzbank shares are in the SHAREHOLDER depot.
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With material from dpa-AFX.
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