European Stocks Bullish, Airbus Hits New All Time High
- Euphoric gains at the beginning of the week
- Is the burden of military support for Ukraine shifting to Europe? Rheinmetall shares gain 12%
- Airbus climbs to new historical highs
Overall market situation: European markets are trading significantly higher at the beginning of the week. The German DAX on the cash market is already gaining almost 1.6%. The main topic of the day is the negotiations between Ukraine and the US/European countries to conclude aid agreements for the country struggling with the armed conflict.
On the broader European market, we are seeing increases in the prices of shares of companies representing the main sectors of the economy. Source: xStation
The German DE40 index is gaining value today and is adding 1.5% intraday. The most important support for the index remains the 50-day EMA (blue line on the chart) and the support area of the consolidation zone near 21,230 points. Technically, the DE40 is still maintaining a stable upward trend. Source: xStation
Corporate news:
Investors’ attention today is primarily drawn to defense stocks. After Zelensky’s visit to the US, markets are coming to the conclusion that the focus of responsibility for stabilizing Ukraine will shift to Europe, and the Old Continent will have to drastically increase defense spending – in each of the analyzed scenarios.
British Prime Minister Keir Starmer and other European leaders used the security summit in London to demonstrate broad support for Ukraine.
European countries have significantly increased their defense spending in 2024. Source: Bloomberg Financial LP
You can find more information about this sector in our previous post.
Airbus SE (AIR.DE) reported an improvement in aircraft deliveries in February compared to a weak result in January, indicating progress in dealing with supplier challenges that have hampered production in Europe. The company likely delivered between 35 and 39 passenger planes last month, based on estimates from aviation consulting firm Cirium Ascend. Recall that January’s figure of 25 planes was even lower than rival Boeing Co., which has not happened recently.
Airbus shares hit new all-time highs. Source: xStation
Other news from individual DAX companies. Source: Bloomberg Financial LP
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